Trade Forex From Home - 10 Biggest Mistakes New Forex Traders Make (And How T...ForexTraining
Its a fact that 94% of new Forex traders fail. Read the '10 Biggest Mistakes New Traders Make' so you don't make them too. The report has been written by me, Annabel Meade from http://www.tradeforexfromhome.com. I educate people to work less and earn more trading the Forex market. How much would you like to earn working 15 hours or less per week?
Forex for beginner - how to get started in forex tradingoly1
Forex for beginner: How to get started in forex currency trading? What are the benefits and risk involve in trading forex? You should start with learning from the resources available online and open a demo account to start trading currency pairs.
Janis urste forex tips that will help you succeedjanisursteforex
Janis Urste Most excellent service provider. If you're feeling like you need to find a way to make some extra money then maybe Forex is for you. A lot of people want to get into Forex but feel that it's a challenging subject to learn, what you have to keep in mind is that the more knowledge you gain the better your chances are at being successful with Forex.
Trading can be the mind game in the financial market, a loss for a person can prove to be the profit of another. As the study suggests, almost 90% of people lose money in the market whereas only a few of the remaining people gain some profit. Originally posted at Yamarkets.com
Trade Forex From Home - 10 Biggest Mistakes New Forex Traders Make (And How T...ForexTraining
Its a fact that 94% of new Forex traders fail. Read the '10 Biggest Mistakes New Traders Make' so you don't make them too. The report has been written by me, Annabel Meade from http://www.tradeforexfromhome.com. I educate people to work less and earn more trading the Forex market. How much would you like to earn working 15 hours or less per week?
Forex for beginner - how to get started in forex tradingoly1
Forex for beginner: How to get started in forex currency trading? What are the benefits and risk involve in trading forex? You should start with learning from the resources available online and open a demo account to start trading currency pairs.
Janis urste forex tips that will help you succeedjanisursteforex
Janis Urste Most excellent service provider. If you're feeling like you need to find a way to make some extra money then maybe Forex is for you. A lot of people want to get into Forex but feel that it's a challenging subject to learn, what you have to keep in mind is that the more knowledge you gain the better your chances are at being successful with Forex.
Trading can be the mind game in the financial market, a loss for a person can prove to be the profit of another. As the study suggests, almost 90% of people lose money in the market whereas only a few of the remaining people gain some profit. Originally posted at Yamarkets.com
Many traders-beginners are sure, that success on Forex depends mainly on a trading strategy and risk management, and don't think about the psychological aspect of the trading. However, emotions may affect trading process very much. The psychology of the Forex trading really exists and it is one of the things that differs a successful trader from a losing one.
Trading plan is very important for you to be successful in forex trading.forex trading plan in pdf file. In this ebook will be cover on your plan to be successful forex trader, your trading goal, money management,your strategy and how you going to do your trading.
Generally speaking when new traders start trading, they do not place too much thought into their trades. Most new traders will either just buy or sell a currency pair because.....
By www.ProfitableTradingTips.com
Scalping in Day Trading
Traders who engage in rapid momentum trades are often scalping in day trading. These traders make their profit from the difference between bid and ask prices. Even in a flat market traders can profit from scalping in day trading. In order to successfully make a business out of scalping in day trading the trader needs to pay close attention to the market, always be aware of market fundamentals, and keep abreast of technical analysis. Despite the theoretical possibility of trading in an absolutely flat market the price of a stock constantly moves to some degree throughout the trading day. Thus when scalping in day trading one acts as a mini trend trader as well.
In and Out of Positions in a Hurry
There is a rhythm to scalping in day trading and it is fast. Traders seek to profit from the actions of traders to simply take the bid and ask prices of a stock. This strategy guarantees a profit if the trader acts quickly. It can result in losses if the stock price moves too quickly. As an example, Xyz Corporation has a bid price of $10.10 and ask price of $10.15. If the scalper can buy at the bid price and sell at the ask price he gains $0.05 per share, a small amount but a lot if repeated many times throughout the day. However, the market might move lower before he can complete his trade. Let’s say that the stock moves so that the bid price is now $9.90 and the ask price is $9.95. The trader who purchased for $10.10 now needs to sell at $9.95 if he wants to quickly exit his trade. The other choice is to continue the trade in hopes that the market will turn upward and not fall farther. This later course is anathema to scalping in day trading. When scalping a trader is never trying to outguess the market but simply helping to make the market and make repetitive small profits.
The Nature of Bid and Ask Prices
Bid and ask prices are available on markets across the world. By using this price system traders are able to execute trades immediately, so long as there are enough bid prices to match ask prices. The difference between bid and ask prices is called the spread. Gaining the spread on every trade is the goal when scalping in day trading. The ideal scalping trade would be instantaneous. Buy at the low price and sell at the high. Getting in and out in an instant would seem to be the ideal situation if dealing with absolutely static bid and ask prices. However, the market is never static so traders must look to market direction even when scalping in day trading. A successful scalper also engages in trend following in day trading.
Think of the Spread as a Bonus
Scalping in day trading takes advantage of market movement as well as the bid to ask spread. While trend traders use technical analysis to read market sentiment they attempt to ride out a trade to gain the maximum profit.
http://www.premiertraderuniversity.com/system - Free Trading System
The quick movement in prices makes it easy for traders to get sucked into taking trades outside their normal plan or at prices far worse than they really should. Even though the additional movement is likely to generate far more opportunities, somehow the fear of missing out (fomo) in trading seizes control of the trader and their subsequent decisions become rash.
Janis Urste Most excellent service provider. Currency trading can imply a lot of different types of trades depending upon whom you ask or talk to about it. We all know that it's what and when you trade that determines your profit or loss. Take some time to train yourself and work on your trading using the tips below.
Anyone who has started their journey in Forex trading must know that there is no shortcut in profitable trading. You must trade a proven forex trading strategy over and over so that across a series of trades, the strategies work well enough to produce an overall profit.
Let us show you some important Forex Trading Rules.
In the past year or so I have written two or three articles on this subject and, in addition, POSITION SIZING has featured within other articles important to Forex Trading.
this is breakout trading strategy to use. if you understand how the breakout works.you can gain up to 100pips 200pips.
.
if you understand market trending and break out. you can make money with forex.
.
Nordnet, NGM, BNP Paribas, CitiFirst ja Commerzbank järjestivät Trader Tour -seminaarin, jossa kerroimme mm. miten hyödynnät erilaisia viputuotteita omissa sijoituksissasi. Lisäksi seminaareissa sai katsauksen nykyisestä markkinatilanteesta.
Many traders-beginners are sure, that success on Forex depends mainly on a trading strategy and risk management, and don't think about the psychological aspect of the trading. However, emotions may affect trading process very much. The psychology of the Forex trading really exists and it is one of the things that differs a successful trader from a losing one.
Trading plan is very important for you to be successful in forex trading.forex trading plan in pdf file. In this ebook will be cover on your plan to be successful forex trader, your trading goal, money management,your strategy and how you going to do your trading.
Generally speaking when new traders start trading, they do not place too much thought into their trades. Most new traders will either just buy or sell a currency pair because.....
By www.ProfitableTradingTips.com
Scalping in Day Trading
Traders who engage in rapid momentum trades are often scalping in day trading. These traders make their profit from the difference between bid and ask prices. Even in a flat market traders can profit from scalping in day trading. In order to successfully make a business out of scalping in day trading the trader needs to pay close attention to the market, always be aware of market fundamentals, and keep abreast of technical analysis. Despite the theoretical possibility of trading in an absolutely flat market the price of a stock constantly moves to some degree throughout the trading day. Thus when scalping in day trading one acts as a mini trend trader as well.
In and Out of Positions in a Hurry
There is a rhythm to scalping in day trading and it is fast. Traders seek to profit from the actions of traders to simply take the bid and ask prices of a stock. This strategy guarantees a profit if the trader acts quickly. It can result in losses if the stock price moves too quickly. As an example, Xyz Corporation has a bid price of $10.10 and ask price of $10.15. If the scalper can buy at the bid price and sell at the ask price he gains $0.05 per share, a small amount but a lot if repeated many times throughout the day. However, the market might move lower before he can complete his trade. Let’s say that the stock moves so that the bid price is now $9.90 and the ask price is $9.95. The trader who purchased for $10.10 now needs to sell at $9.95 if he wants to quickly exit his trade. The other choice is to continue the trade in hopes that the market will turn upward and not fall farther. This later course is anathema to scalping in day trading. When scalping a trader is never trying to outguess the market but simply helping to make the market and make repetitive small profits.
The Nature of Bid and Ask Prices
Bid and ask prices are available on markets across the world. By using this price system traders are able to execute trades immediately, so long as there are enough bid prices to match ask prices. The difference between bid and ask prices is called the spread. Gaining the spread on every trade is the goal when scalping in day trading. The ideal scalping trade would be instantaneous. Buy at the low price and sell at the high. Getting in and out in an instant would seem to be the ideal situation if dealing with absolutely static bid and ask prices. However, the market is never static so traders must look to market direction even when scalping in day trading. A successful scalper also engages in trend following in day trading.
Think of the Spread as a Bonus
Scalping in day trading takes advantage of market movement as well as the bid to ask spread. While trend traders use technical analysis to read market sentiment they attempt to ride out a trade to gain the maximum profit.
http://www.premiertraderuniversity.com/system - Free Trading System
The quick movement in prices makes it easy for traders to get sucked into taking trades outside their normal plan or at prices far worse than they really should. Even though the additional movement is likely to generate far more opportunities, somehow the fear of missing out (fomo) in trading seizes control of the trader and their subsequent decisions become rash.
Janis Urste Most excellent service provider. Currency trading can imply a lot of different types of trades depending upon whom you ask or talk to about it. We all know that it's what and when you trade that determines your profit or loss. Take some time to train yourself and work on your trading using the tips below.
Anyone who has started their journey in Forex trading must know that there is no shortcut in profitable trading. You must trade a proven forex trading strategy over and over so that across a series of trades, the strategies work well enough to produce an overall profit.
Let us show you some important Forex Trading Rules.
In the past year or so I have written two or three articles on this subject and, in addition, POSITION SIZING has featured within other articles important to Forex Trading.
this is breakout trading strategy to use. if you understand how the breakout works.you can gain up to 100pips 200pips.
.
if you understand market trending and break out. you can make money with forex.
.
Nordnet, NGM, BNP Paribas, CitiFirst ja Commerzbank järjestivät Trader Tour -seminaarin, jossa kerroimme mm. miten hyödynnät erilaisia viputuotteita omissa sijoituksissasi. Lisäksi seminaareissa sai katsauksen nykyisestä markkinatilanteesta.
Introducing Forex Fortunes Guide:- Create the Mindset Your Need Trade like a Pro. Inside this eBook, you will discover the topics about the mindset and trading, how to trade on the forex, have realistic expectations, understand the power of patience, be organized in your approach to the markets, why emotional management is critical read more
Create the mindset your need Trade like a Pro. Inside this book you will discover the topics about the mindset and trading, how to trade on the forex, have realistic expectation, understand the power of patience, be organized in your approach to the markets, why emotional management is critical to trading success, over complicating forex trading can easily induce emotional trading, how price action trading will cure emotional trading problems and the winning traits of a forex trader.
Inside this ebook you will discover about the mindset and trading how to trade on forex, have realistic expectations and have the power of patience be organised in the approach to the market etc.
Today I'll give you the forex fortune guide, with the help of this guide you can learn forex trading in a very simple way and analyze the data professionally.
"Triumph Scalper" operates excellently on its own! But "Triumph Scalper Assistant" is created exclusively to reduce the amount of time you spend and increase your benefit. “Triumph Scalper Assistant” captures the best moments to enter BUY or SELL trades that are generated by the “Triumph Scalper” and allows you to open an order with a few clicks.
The aim of this book is to give readers a brief overview on Forex
markets from the means through which traders can develop the
proper mindset when trading, how to trade on the Forex market, why
emotional management is critical to successfully trading on the Forex
market, to discussing some of the favorable qualities a good Forex
trader should posses. These aspects of Forex trading will be discussed in depth in the other chapters that follow but for now, we tackle the basics pertaining to Forex trading as a money making entity.
The aim of this book is to give readers a brief overview on Forex
markets from the means through which traders can develop the
proper mindset when trading, how to trade on the Forex market, why
emotional management is critical to successfully trading on the Forex
market, to discussing some of the favorable qualities a good Forex
trader should posses. These aspects of Forex trading will be discussed
in depth in the other chapters that follow but for now, we tackle the
basics pertaining to Forex trading as a money making entity.
Get all the info you need here.
Forex or (Nadex) Binary Options, or without a doubt exchanging general, ought to think of it as a highlight purchase a participation to (BOTS) procedure advancement room. Notwithstanding your experience level, you would now be able to participate and start gaining from other astounding individuals. The general purpose of this assistance is to attempt to interface similar people together to shape a group of thoughts to help out everybody improve. Any individual who has exchanged for almost any timeframe realizes exchanging is HARD, VERY HARD. It requires some investment to create procedures and attempt to figure out how to control hazard. We help out by offering a local area in which individuals can share their encounters and what they are really going after to diminish an opportunity to gain proficiency with these significant exercises.
Introducing Forex Fortune guide create the mindset you need to trade like a pro, inside the sea book you'll discover the topics about the mindset and trading how to trade on the Forex have realistic expectations understand the power of paces be organized in your approach to the Marcus why emotional management is critical to trading success over complicating Forex trading can easily induce emotional trading how price action trading will cure emotional trading problem and the winning traits of a Forex Trader
The aim of this book is to give readers a brief overview on Forex
markets from the means through which traders can develop the
proper mindset when trading, how to trade on the Forex market, why
emotional management is critical to successfully trading on the Forex
market, to discussing some of the favorable qualities a good Forex
trader should posses. These aspects of Forex trading will be discussed
in depth in the other chapters that follow but for now, we tackle the
basics pertaining to Forex trading as a money making entity.
Get all the info you need here.
Janis Urste Expert tips provider.Deciding to trade with Forex (the Foreign Exchange Market) is more of something you do because you hear about the platform, rather than something you aspire to do on your own. That’s because no one really sets out to trade money, but everyone is enticed when they hear that two-trillion dollars changes hands daily via Forex. Read up on these Forex tips and see if this market is right for you.
Knowing the trend is crucial. Sure, you have experienced times when you entered the trade and waited during the choppy zone while some other pair was making a solid move. Trading the market that turns up and down and takes back all the profits during a series of losses feels like a slow torture...
Forex Trendy is a software solution to avoid trading during uncertain market periods. Instead, pick the best trending pair at the current time.
It uses no indicators, but the trend is determined by pure price action.
It quickly scans 34 Forex pairs on all time frames from minute to monthly. That's 34 x 9 = 306 charts. Forex Trendy analyzes all the charts for you every second! This way, you get the best trending pair and time frame at any time you want.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
1. ==== ====
For Trading in forex markets check this out :
http://tradernews.org/category/commodities/
==== ====
Why do hundreds of thousands online traders and investors trade the forex market every day,
and how do they make money doing it?
This two-part report clearly and simply details essential tips on how to avoid typical pitfalls and
start making more money in your forex trading.
Trade pairs, not currencies - Like any relationship, you have to know both sides. Success or
failure in forex trading depends upon being right about both currencies and how they impact one
another, not just one.
Knowledge is Power - When starting out trading forex online, it is essential that you understand
the basics of this market if you want to make the most of your investments.
The main forex influencer is global news and events. For example, say an ECB statement is
released on European interest rates which typically will cause a flurry of activity. Most newcomers
react violently to news like this and close their positions and subsequently miss out on some of
the best trading opportunities by waiting until the market calms down. The potential in the forex
market is in the volatility, not in its tranquility.
Unambitious trading - Many new traders will place very tight orders in order to take very small
profits. This is not a sustainable approach because although you may be profitable in the short
run (if you are lucky), you risk losing in the longer term as you have to recover the difference
between the bid and the ask price before you can make any profit and this is much more difficult
when you make small trades than when you make larger ones.
Over-cautious trading - Like the trader who tries to take small incremental profits all the time, the
trader who places tight stop losses with a retail forex broker is doomed. As we stated above, you
have to give your position a fair chance to demonstrate its ability to produce. If you don't place
reasonable stop losses that allow your trade to do so, you will always end up undercutting
yourself and losing a small piece of your deposit with every trade.
2. Independence - If you are new to forex, you will either decide to trade your own money or to have
a broker trade it for you. So far, so good. But your risk of losing increases exponentially if you
either of these two things:
Interfere with what your broker is doing on your behalf (as his strategy might require a long
gestation period);
Seek advice from too many sources - multiple input will only result in multiple losses. Take a
position, ride with it and then analyse the outcome - by yourself, for yourself.
Tiny margins - Margin trading is one of the biggest advantages in trading forex as it allows you to
trade amounts far larger than the total of your deposits. However, it can also be dangerous to
novice traders as it can appeal to the greed factor that destroys many forex traders. The best
guideline is to increase your leverage in line with your experience and success.
No strategy - The aim of making money is not a trading strategy. A strategy is your map for how
you plan to make money. Your strategy details the approach you are going to take, which
currencies you are going to trade and how you will manage your risk. Without a strategy, you may
become one of the 90% of new traders that lose their money.
Trading Off-Peak Hours - Professional FX traders, option traders, and hedge funds posses a
huge advantage over small retail traders during off-peak hours (between 2200 CET and 1000
CET) as they can hedge their positions and move them around when there is far small trade
volume is going through (meaning their risk is smaller). The best advice for trading during off peak
hours is simple - don't.
The only way is up/down - When the market is on its way up, the market is on its way up. When
the market is going down, the market is going down. That's it. There are many systems which
analyse past trends, but none that can accurately predict the future. But if you acknowledge to
yourself that all that is happening at any time is that the market is simply moving, you'll be
amazed at how hard it is to blame anyone else.
Trade on the news - Most of the really big market moves occur around news time. Trading volume
is high and the moves are significant; this means there is no better time to trade than when news
is released. This is when the big players adjust their positions and prices change resulting in a
serious currency flow.
3. Exiting Trades - If you place a trade and it's not working out for you, get out. Don't compound your
mistake by staying in and hoping for a reversal. If you're in a winning trade, don't talk yourself out
of the position because you're bored or want to relieve stress; stress is a natural part of trading;
get used to it.
Don't trade too short-term - If you are aiming to make less than 20 points profit, don't undertake
the trade. The spread you are trading on will make the odds against you far too high.
Don't be smart - The most successful traders I know keep their trading simple. They don't analyse
all day or research historical trends and track web logs and their results are excellent.
Tops and Bottoms - There are no real "bargains" in trading foreign exchange. Trade in the
direction the price is going in and you're results will be almost guaranteed to improve.
Ignoring the technicals- Understanding whether the market is over-extended long or short is a key
indicator of price action. Spikes occur in the market when it is moving all one way.
Emotional Trading - Without that all-important strategy, you're trades essentially are thoughts only
and thoughts are emotions and a very poor foundation for trading. When most of us are upset and
emotional, we don't tend to make the wisest decisions. Don't let your emotions sway you.
Confidence - Confidence comes from successful trading. If you lose money early in your trading
career it's very difficult to regain it; the trick is not to go off half-cocked; learn the business before
you trade. Remember, knowledge is power.
The second and final part of this report clearly and simply details more essential tips on how to
avoid the pitfalls and start making more money in your forex trading.
Take it like a man - If you decide to ride a loss, you are simply displaying stupidity and cowardice.
It takes guts to accept your loss and wait for tomorrow to try again. Sticking to a bad position ruins
lots of traders - permanently. Try to remember that the market often behaves illogically, so don't
4. get commit to any one trade; it's just a trade. One good trade will not make you a trading success;
it's ongoing regular performance over months and years that makes a good trader.
Focus - Fantasising about possible profits and then "spending" them before you have realised
them is no good. Focus on your current position(s) and place reasonable stop losses at the time
you do the trade. Then sit back and enjoy the ride - you have no real control from now on, the
market will do what it wants to do.
Don't trust demos - Demo trading often causes new traders to learn bad habits. These bad habits,
which can be very dangerous in the long run, come about because you are playing with virtual
money. Once you know how your broker's system works, start trading small amounts and only
take the risk you can afford to win or lose.
Stick to the strategy - When you make money on a well thought-out strategic trade, don't go and
lose half of it next time on a fancy; stick to your strategy and invest profits on the next trade that
matches your long-term goals.
Trade today - Most successful day traders are highly focused on what's happening in the short-
term, not what may happen over the next month. If you're trading with 40 to 60-point stops focus
on what's happening today as the market will probably move too quickly to consider the long-
term future. However, the long-term trends are not unimportant; they will not always help you
though if you're trading intraday.
The clues are in the details - The bottom line on your account balance doesn't tell the whole
story. Consider individual trade details; analyse your losses and the telling losing streaks.
Generally, traders that make money without suffering significant daily losses have the best
chance of sustaining positive performance in the long term.
Simulated Results - Be very careful and wary about infamous "black box" systems. These so-
called trading signal systems do not often explain exactly how the trade signals they generate are
produced. Typically, these systems only show their track record of extraordinary results -
historical results. Successfully predicting future trade scenarios is altogether more complex. The
high-speed algorithmic capabilities of these systems provide significant retrospective trading
systems, not ones which will help you trade effectively in the future.
5. Get to know one cross at a time - Each currency pair is unique, and has a unique way of moving
in the marketplace. The forces which cause the pair to move up and down are individual to each
cross, so study them and learn from your experience and apply your learning to one cross at a
time.
Risk Reward - If you put a 20 point stop and a 50 point profit your chances of winning are
probably about 1-3 against you. In fact, given the spread you're trading on, it's more likely to be 1-
4. Play the odds the market gives you.
Trading for Wrong Reasons - Don't trade if you are bored, unsure or reacting on a whim. The
reason that you are bored in the first place is probably because there is no trade to make in the
first place. If you are unsure, it's probably because you can't see the trade to make, so don't make
one.
Zen Trading- Even when you have taken a position in the markets, you should try and think as
you would if you hadn't taken one. This level of detachment is essential if you want to retain your
clarity of mind and avoid succumbing to emotional impulses and therefore increasing the
likelihood of incurring losses. To achieve this, you need to cultivate a calm and relaxed outlook.
Trade in brief periods of no more than a few hours at a time and accept that once the trade has
been made, it's out of your hands.
Determination - Once you have decided to place a trade, stick to it and let it run its course. This
means that if your stop loss is close to being triggered, let it trigger. If you move your stop midway
through a trade's life, you are more than likely to suffer worse moves against you. Your
determination must be show itself when you acknowledge that you got it wrong, so get out.
Short-term Moving Average Crossovers - This is one of the most dangerous trade scenarios for
non professional traders. When the short-term moving average crosses the longer-term moving
average it only means that the average price in the short run is equal to the average price in the
longer run. This is neither a bullish nor bearish indication, so don't fall into the trap of believing it
is one.
Stochastic - Another dangerous scenario. When it first signals an exhausted condition that's when
the big spike in the "exhausted" currency cross tends to occur. My advice is to buy on the first
6. sign of an overbought cross and then sell on the first sign of an oversold one. This approach
means that you'll be with the trend and have successfully identified a positive move that still has
some way to go. So if percentage K and percentage D are both crossing 80, then buy! (This is the
same on sell side, where you sell at 20).
One cross is all that counts - EURUSD seems to be trading higher, so you buy GBPUSD because
it appears not to have moved yet. This is dangerous. Focus on one cross at a time - if EURUSD
looks good to you, then just buy EURUSD.
Wrong Broker - A lot of FOREX brokers are in business only to make money from yours. Read
forums, blogs and chats around the net to get an unbiased opinion before you choose your
broker.
Too bullish - Trading statistics show that 90% of most traders will fail at some point. Being too
bullish about your trading aptitude can be fatal to your long-term success. You can always learn
more about trading the markets, even if you are currently successful in your trades. Stay modest,
and keep your eyes open for new ideas and bad habits you might be falling in to.
Interpret forex news yourself - Learn to read the source documents of forex news and events -
don't rely on the interpretations of news media or others.
Article Source:
http://EzineArticles.com/?expert=John_Gaines
==== ====
For Trading in forex markets check this out :
http://tradernews.org/category/commodities/
==== ====