Forex Trading Strategies - 3 Forex Strategy Tips For Beginners

If you are just starting to look into forex trading strategies as a way to generate extra income, make certain you start on the right path. Although the rewards can be massive, Forex is fraught with risk and the possibility of losing your initial investment. To start your journey on the right foot, here are three tips to help you get started.
Tip #1: Read Up
Before you decide to take another step into the world of forex and trading strategies, get your hands on a few top books on the topic at your library or over at Amazon. Become familiar with the terminology used and the basics of fx trading. Visit currency exchange websites and see if you can understand everything you are reading. If not, refer back to your books until you have a good grasp of the language used and the basics of trading.
Tip #2: Develop Your Strategy Using Forex Trading Signal Software
Invest in one or two of the popular software programs that help you with your trading strategy, such as Forex Killer. Do not use these programs to trade with real money on a live account yet. Instead, use the programs to get a deeper feel for the market, and to create a trading strategy for yourself ahead of time, before you begin risking money. Keep in mind, the cost for these types of programs are very small compared to the much larger investment you'll have to make once you are trading for real. Make certain you use these to develop your profitable strategy now.
Tip #3: Practice Trading On A Demo Account
Now you are ready to start getting some hands-on experience trading - still without risking any money. Most forex trading companies will provide you with a demo account of their trading platform. That way you can practice trading in a virtual environment without any risk of losing money. Stick with trading on a demo account until you completely understand what you are doing and your strategy is proving profitable for you. There is no reason to risk any actual money until you've proved yourself successful on a demo account.
Bonus Tip: Once you are trading on the demo accounts or on live accounts, you'll want to stay on top of the market by interacting with others active in the field. A free forex forum and chat room is a good place to go: http://www.freeforexforums.com

Forex Trading Profit Making Tips

I'm going to share with you some of my forex trading profit making tips. These tips should help you aid in turning your online trading into a real business, you can support yourself on. There are more people than ever before working from home making a living. You should definitely take advantage of it.
How do I become a confident trader?
Well, you obviously can't tell yourself to be a confident trader. It doesn't work that way. It takes time and positive experience to become a confident trader. But you can do the next best thing, act confident. Act confident even if you don't feel confident on the inside. A confident trader is sure of their work. They know it's right and they make trades based on it. They don't hesitate on making a trade. They don't ask for other people's opinions on a trade. They just make the trade. After they make the trade, they don't sit around stressing at every little move it makes. Allow the trade to run it's course, so it at least has some time to perform.
How important is news?
News is very important. There is so much news out there that I couldn't tell you which ones will affect the market and which ones won't. Typically anything affecting the economy will affect the currency market. If the news is positive, typically the response in the currency market is positive. The same is true for negative news. It will also be negative in the currency market.
Is there an alternative to hiring a staff?
Yes, automated software is the solution. Instead of hiring someone to sit in front of the computer and watch trades, you can get Forex Killer software to continuously watch the trades and make the most profitable decision for it. This saves money and makes you money.
The automated software of Forex Killer will give you an immediate edge in the market. Make trades that work for your profit line. For more information on the Forex Killer software, check out Forex Charting Software.

Knowledge is 'No Risk' Currency Trading

Currency trading is a popular investment and can be turned to your favor if you follow some simple tips that govern currency movements. You must follow the macroeconomic situation of the country whose currency you are dealing in. Look into the latest economic data. There are many policy decisions and political changes that affect the currency. Technical aspects like equity markets, bank interests and international trades also have an effect on the currency movements.
Our worlds money policy allows for free and open exchange of currencies at market rates for most US and European trading partners. By looking at the exchange rates, and searching foreign and international news, people currency trading are hoping that currency valuations will go in the direction they're anticipating in the future.
It is important to take a look at the risks involved. You have to manage them and decide if you are willing to accept them. In the beginning of any trade analyze your capacity to lose. In case you cannot take the loss it is better you do not trade it. You should not risk more than you can afford to loose. You should also start using options such as stop losses or limit orders in order to control your loses. It is a wise idea to concentrate on certain pair of currencies while you are into currency trading. Commit yourself to a steady research and analysis of a chosen few rather than spreading your concentration on too many. Things that you might look at while doing currency trading are: Liquidity of the currency, transaction costs, and volatility of the currency.
As a thumb rule main currencies have a high liquidity, low transaction costs and lower volatility. The currencies of emerging markets have poor liquidity and high volatility. You must always have a plan or a strategy for trading. It is good to plan but you have to implement that plan for an effective trading. The markets are so volatile in forex trading that trading can prove to quite a nightmare if you get shaken by the movements. Therefore do not look at the short positions, rather, go for the long positions. Traders make money on a long term basis and not by making short-term trades. You have to be very focused and up-to-date in case you are looking at short-term positions. Thus conduct researches; as much as you can.
You must have the news of the latest events in the currency trading world. Check the prices of the currencies every hour. These days there are many service providers who give online help. They can provide you with the updated information. You can use this information to gauge your trading positions.
Take care of your feelings while you are dealing in currency trading. This is because that there are times when you will feel low as you have missed an opportunity or have lost money. These factors can affect your future trading plans. You have to stay firm and keep your emotions at bay to shrewdly conduct currency trading business.
Finding the best information on forex trading can be hard. Rick Williamson researches forex information at Forexebookstore.com.

Forex Trading Tips

Foreign Exchange Trading better known as FOREX trading is the buying and selling of currencies from different nations. With different factors involved in this trading and its fast paced nature, it is best that you find simple ways to give you a head start in the industry.
The main purpose of getting involve in FOREX trading, just like every form of trade, is the opportunity to buy one currency low, and to be able to sell another currency high. The simplest tip you can get is to always remember to buy low and sell high. There is no point in engaging a trade if you will not profit from it.
In FOREX trading, each currency is given a three letter code like the American (United States of America) dollar has the code USD, European Euro is assigned EUR, Australia Dollars is AUD, China, Yuan Renminbi is CNY, Chile, Pesos is CLP, Philippines, Peso is PHP, so on and so forth. Because many currencies like dollars and peso have the same names, it is important that you know the code of the country’s currency you are trading with. If a currency has the same code, it means that they have the same currency, just like the European Euro that is a standard across Europe, which is given the code EUR. Whether it is Réunion, Europe or Saint-Martin, Euro has the same code--EUR.
It is also important to pay attention to the trading hours on the market you intend to trade with. Since this is a global industry, many of the markets open and close at different hours. The market in Sydney, Australia opens at 4:00 pm. Tokyo, Japan opens at 7. :00 pm, Singapore and Hong Kong markets open at the same time at 9:00 pm. Frankfurt and London opens at 2:00 and 3:00 am, respectively for the European market. New York opens at 4:00 am. All these times are based on Eastern Standard Time.
Forex Trading provides detailed information on Forex Trading, Online Forex Trading, Forex Trading Tips, Forex Trading Hours and more. Forex Trading is affiliated with Forex Day Trading Systems.

Making a Living in Forex Trading

Often people ask me if it is really possible to make a living trading the Forex market. I would have to say that it is definitely not possible to merely make a living unless you have no idea of what simple trading money management is. If you are successful in Forex trading and you understand what money management is, you will not just make a living but will create wealth relatively quickly. So I often tell people that if you are looking for a job, you might want to try Wal Mart. I hear they are hiring part time employees.
A good tool that can help you to understand how this works is a calculator. They can be purchased at most local stores for as little as $5.00. Then you might want to open a Forex trading demo account and place a trade. Observe what happens to the digits that display the profit or loss and get an idea of what the value of a PIP is in your account. Then you can develop a purely hypothetical trading plan.
After you have learned a little about how Forex trading works you should start to get an idea of what is a realistic expectation for results in PIPS over a given period of time. Then decide what a prudent risk management plan would be. Some say no more than 2% of your capital is a good number. That number is of course, based on a false industry belief that it is not possible to have a high win to loss ratio in Forex trading. Regardless, it is a good conservative number. Then simply start off with a number that represents the amount of capital you plan to start with and project what would happen if you were successful with a realistic win to loss ratio. How many PIPS will you earn? Win to loss ratio is the number of winning trades vs. the number of losing ones. Risk to reward ratio represents the average number of PIPS per loss vs. the average number of PIPS per winning trade. What will your average net gain be per day or per month? What will that do to your capital?
The next step is to note the amount of money you need to meet your living expenses. When the amount of your monthly profits is at least twice as much as the amount you need to live, begin taking out 50% of your monthly profits. From that point on you will make a living AND your trading account will increase each month while the amount you take out will also increase every month from that point on. What could be better than that?
Learn Currency Trading

The Best Forex Trading Software Offers

As forex trading software has been lauded in some circles as being the future of forex trading, the best forex trading software excels in the two areas of forex trading which measure profit and success more than anywhere: accuracy and timing.
Arguably the most power feature associated with the best forex trading software is the trend indicator. While most of these programs will have a different name for it, the purpose is essentially always the same. Forex programs keep a tireless and vigilante watch over the market. They constantly take in and dissect the data from the market. Trend indicators in the program take this information and run it through complex mathematical algorithms to generate predictions as to where exactly areas of the market will go next so that you the trader can trade early and ahead of the curve to fully profit and take advantage of a trend.
The best part about trend indicators is that the best forex trading software publishers test their indicators for months and sometimes even years before they are released to traders. They are tested within the confines of real campaigns and refined until they are as accurate and correct as possible. Many traders swear by the tips which they receive from their trend indicators.
Through constant and free updates from their publishers, the best forex trading software remains as fresh and up to date as the market itself. If you want the most accurate and precise information affecting your trading, there is honestly no substitute for the forex trading programs.
The best forex trading software also affords you the opportunity to trade much more timely. As I already mentioned, these programs keep a constant watch over the market. Using the same basic process to . This is much more sophisticated than stop loss and take profit, because instead of setting limits, you can stop a bad and waning trade at the ground level before it costs you. Stop loss and take profit protocols are still available through most of these programs, however, if you'd rather just set limits.
Start your path to financial independence and begin earning some reliable and guaranteed income today. Visit http://www.forexautotradingreviewed.com for in depth reviews on the leading forex trading programs available today.

Methods of Profitable Forex Trading

I wanted to take the time to share with you a little about methods of profitable forex trading. This is a huge market with a lot of money moving around in a day. There is a big potential for an ordinary Joe to get some of that money, but before you can do that, you need to learn foundation of quality trading. I hope to share that information with you.
The first thing you need to get under control is what I like to call the "inner gambler". You've seen gambling destroy people's lives. This type of person lives inside of all of us. They're fixed on the emotional high of winning and feel they can win back losses. You need to make sure that this person never sees the light of day. You do this by controlling your emotions and making decisions based on logic. If you seem to be getting gut feelings or stressed out, you're allowing that gambler to surface. Stick to cold calculated moves and you'll be on your way to profiting.
The next thing I'm going to share is the need to understanding a good buy. We are obsessed in our culture of finding the best for the cheapest price. The thing is we are consumers, so we're not intending to trade. The key to profiting in forex is finding the exit or sell price. That is what determines profits. When you find currencies that you could trade that you expect to go up 15%, it doesn't matter how much it costs. All that matters is the exit price.
The ultimate way to generate profits in the forex market is by using the Forex Tracer. It is a tool that can find the most profitable trades and make them on your behalf. It is a hands free way of profiting. Check out the Forex Tracer Review.

Your Main Enemy in Forex Trading

Have you ever felt that you are always in the wrong position while trading Forex? When you place a SELL order the market goes BULL, and when you place BUY order the market goes BEARISH. You are not alone. One time or another we will experience such depressing instances. The thing is, we don't understand what really went wrong.
The main enemy for us is ourselves, believe it or not. You are the enemy. You are the one who makes the wrong call. You are the one who makes the wrong order.
Unfortunately most of us concentrate too much on technique. We spend countless hours doing research and back testing. We spend thousands of dollars for books, reference materials, program and system. But we forget about ourselves. We forget to teach and control our behavior while in front of the trading platform. The keep repeating the same mistake over and over again. We forget about our trading plan. We don't even remember our trading rules. What a pity.
Two main enemies inside us are greed and fear. All of us have this virus is us. We are "infected".
One of the best way to control our greed and fear is to discipline ourselves, follow our trading plan and trading rules. Simply if the condition is not right, just shutdown our trading platform. If we meet our target, just shutdown our trading platform. Don't give a second though.
To simplify the process, our trading plan and trading rules need to be comprehensive. Everything must be very clear. Our trading plan for example must indicate on what condition we can enter our order. For example, our system clearly indicate that we shall only go for SELL on GBPUSD. That is our trading plan. So during actual trading hours we should stick to our trading plan. Only SELL for GPBUSD, never place order against that. If the market go BULL just call it a day.
In most cases trading against our trading plan will result in disaster. During trading period our mind are in a very stressful situation. Decision made during that period will simply be spontaneous. Meaning, we won't really aware what are we doing. We never put enough though in our decision. In simple term we never really use our brain for the decision. You can expect what will be the consequences. So next time before your trading session get your trading plan and rules ready and stick to it. Never make a spontaneous decision in front of your trading platform.
Learn Forex trading the right way. Visit http://www.forexstudy.net for a comprehensive Forex resources.

Common Mistakes In Forex Trading

When you view the statistics of successful forex trading, it can be pretty depressing. Stats show that only 95% of forex traders are making any money. With so many trading forex, why is this? Here is a look at common mistakes newer (and some seasoned) forex traders make that cause them to lose money.
1. Get Rich Quick mentality. You have probably seen the late night infomercials about how easy and profitable it is to trade forex. Well, it is easy to actually trade, but difficult to trade well. Opening an funding an account can take as little as 24 hours and you can be up and trading. People will open up a broker account, fund it and start trading without knowing what they are doing. A good course of study on the currency pairs and how they tend to work with each other is a must before you start any live trading. You must be educated in forex to trade profitably. You can't just go on gut feeling. Forex trading should be done for the long haul. You are going to have those months where you are not in the positive, but a good trader will have more positive months than negative ones
2. Trading for the wrong reasons. Yes, there is a high associated with making a huge profit from one trade. However, do not treat forex trading like a day at the race track. You should not trade for the excitement of trading. Not to mention that there is a lot of time to be spent just waiting for the correct trade to come along. Also, don't start forex trading because you think it only requires a few minutes a day to make money. Even if you are scalping the market (making small quick trades), it takes time for those trades to develop and some days are just bad days to be sitting there waiting.
3. Not using a stop loss. This is where emotion comes into play. You should have a clear exit strategy when you enter a trade. Decide how many pips you are looking for and what your loss limit will be. If it is 50 pips, set your stop loss so that you are automatically triggered out of the trade when that many pips are lost. It is too easy for a novice trader to say "Well, it has to start coming back soon, I'll just wait a few more pips" and then end up getting a margin call because they are now down 250 pips waiting for the trade to turn around. Be disciplined and set those stop loss targets. There are always going to be new trades happening.
4. Jumping from strategy to strategy. Strategies take time to develop and time to personalize to your own trading style. That is why a demo account is important to practice. Once you have learned your strategy and how to adapt it to changing conditions - stick with it! New traders will sometimes bounce from one person's strategy to another, without giving any of them a chance to develop. One bad trade does not a bad strategy make.
5. Emotional involvement in your trades. Turning off your emotions is a critical tool in trading forex successfully. Not just the down emotions, but the up emotions as well. Have a strategy to get in and out of trades. Resist the impulse to trade, feeling like you are on a wave of good luck. And conversely - don't keep trading if you are down out of desperation.
Following these tips will help you be part of the 5% of successful traders out there, rather than the majority that do not succeed.
Michael Russell
Your Independent guide to Forex Trading

The Forex Trading System That Makes the Most Sense For a Person Just Starting in the FX Markets

A majority of new people that decide to enter the currency markets are aware of the fact that one of the tools they need to trade with is a Forex trading system. However they are usually not completely up to speed on which currency trading system will help them facilitate the process of becoming a highly lucrative trader. In far too many circumstances they are under the impression that an automated Forex trading system can actually make them money by itself. This is simply not the case.
All automated Forex trading systems allow the user to turn off the automation process of trading for them. This is the only way these systems should be used. These are tremendous pieces of software that are sold at relatively inexpensive prices do to the fact they are sold by the millions world wide. The function that they are useful for is an information control providers. To properly trade the Forex markets a trader must be aware of millions pieces of data being constantly produced. Thus, it is not possible for a human being to collect those statistics, much less weed out the irrelevant information and focus on what is important.
All professional Forex traders have two types of Forex trading systems working on their computer while they are trading. These are a signal based system and a trend based system. The basic Forex program utilized by many highly profitable professional currency traders is to follow the way a currency is moving or its trend line. While this is happening they are scanning there RSS news feeds looking for relevant reports that might cause a particular trend line to change. If a news report is detected they will then focus in on there signal based software waiting for conformation that orders for they particular currency are increasing. When all they of there main indicators are providing the same information this is an exceptional buying opportunity.
The Forex trading system for the new investor is one that provides both trend lines for a currency and a signal if that trend line is changing. There are a few products on the market that perform both functions. If you are not happy with the quality of the products that provide both of these critical features it is possible to purchase separate systems specifically designed for each purpose. One bit of warning though, if you have not taken the time to learn currency trading from A to Z it really does not matter how sophisticated your software is, you will not become a profitable trader.
We have researched, tested & reviewed 100s of Forex Courses, Software Systems and Brokerage Firms which we only list our TOP 10 to help you LEARN FOREX TRADING. For 100s of FREE FOREX TUTORIALS please visit LEARN CURRENCY TRADING. Good Luck! I look forward to seeing you on the trading floor making money! William R. Alheim, Jr., CPA, MA

The Currency Exchange is the Largest World Market

Possibly the most appealing point about this form of trading (for those involved in it) is the fact it goes on 24 hours a day. The day could be ending for someone trading on the New York exchange but in Tokyo a new day is only beginning and our US trader would only have to switch exchanges to carry on trading around the clock.
This market is often referred to as the foreign exchange, currency market, forex or FX market and is active anywhere one currency is traded for another and includes trading between large banks, central banks, currency speculators, multinational corporations, governments and other financial markets and institutions. Individuals or ‘retail traders’ as they are known in the market may not trade directly themselves as they must participate indirectly through brokers or banks and they are by far the smallest sector of this massive market.
Because of the size of this market and because there are no limitations made on what currencies you have to trade, it appeals to many people to want to get involved in this form of trading. Over and above this one can make money when trading on currencies that are gaining in value and make money on falling currencies too. Add to the fact that when trading through brokerages you will be allowed to trade in amounts equal to ten times the amount of money you have on deposit – that is to say if one has $1000 on deposit you can trade in amounts up to $10,000 and profit on that as if your were investing $10,000. To show you this point more clearly: if you made a 1% (and this is a much exaggerated example), you could make a $100 gain on your $1000 on deposit. Add all these benefits together and many people think they are into a money making machine. However, be careful because all trades must be finalized at the end of trading each after each trading period and one can’t lose their $1000 one day and be able to carry the loss over to the next day in the hope of turning things around.
The other point that appeals to so many people is the fact one does not have to trade for hours on end each day because the currencies are always moving up or down against some other currencies. However, the point to remember is that one really is “playing against” other traders and so you will always have winners and losers in this game of currency exchange. Many believe there is a fortune to be made for the individual in this form of making money and for a very small percentage of those involved there is and they do make a fortune.
One could say with the advent of the Internet currency exchange has become the gold rush of our times for the individual and that is true in more ways than one. You see the ones who really made money in the gold rush were not the miners but those who supported the miners by supplying them with the tools, food, recreation and all else that is needed to fuel a boom of that nature.
The real winners of the currency exchange will be the businesses supporting the individual currency traders including people offering advice and even training people to become traders in this booming market, not the traders themselves because over 90% of them will fall by the wayside.
Michael Russell Your Independent guide to Currency Exchange

Start Trading Like the Pros With Forex Trader Software

An increasing number of forex traders are using automated software to do a lot of the gritty work for them. The number of traders who use forex trading software with their campaigns has jumped 7% in the last three years to show that the forex market is going increasingly automated. Why do they do it? In a word, it's more accurate. It's more accurate in a few ways.
The most obvious of these ways is the fact that forex trader software comes with signal generation. This more or less analyzes the market's trends and changes, past and present, to piece together what will happen next in any given set of forex pairs. You can then trade these forex pairs accordingly and ahead of the curve. The best of these programs are incredibly accurate, many of the top traders swear by them. In fact, many of the former and current top traders and experts are typically the co-publishers behind these programs. They are programmed using precise mathematical algorithms to eliminate human error and instead rely strictly on cold, calculated numbers to give you the most precise predictions.
To fully take advantage of "tips" or predictions, you've got to be able to react at a seconds notice. As this is near impossible, another benefit of forex trader software is that it can be completely automated. In other words, you just steer the program in the direction you want it to go, and it's off. You can focus your attention to other things from your day job to spending more time with your family. This is especially handy when you consider the fact that the forex market keeps much longer hours than the traditional stock exchange. It practically never closes, save for a few twilight hours over the weekend. When you approach things this way, there is no substitute from using forex trader software if you truly want to be successful in this market.
All in all, forex trader software makes for a reliable source of income. As there are a number of competing programs in this industry, it helps to be able to separate the leaders from the lemons. Visit http://www.forexautotradingreviewed.com for in depth reviews and comparisons on the leading forex trader software available today.

Tips to Become One Of The Top Currency Traders

I'm going to share with you some tips to help you become one of the top currency traders. This is a great business to get involved in. It's exciting and never before has the little guy been allowed in to compete against the largest banks and firms.

• Avoid Emotions: This is the last place you want your emotions to come out. Emotions are the key to changing this from a businessman to a gambler. You don't want to be a gambler. The most common emotions that come out are gut feelings and a "need" to do something. Gut feelings are obviously the last thing you want to follow. You want to stick with hard facts and numbers. You want to be calculated because that is what information you go on. Gut feelings might work now and than, but you're going to do far better doing a logical analysis than going with your gut. As well, needs come from many different reasons, but if you ever feel a need or obligation to trade, you should probably take a break.
• Cut Your Losses: This is a fine art most people can't do properly. You will have bad trades, just like everyone else. It's just part of this business. It's really not that big of a deal. It becomes a problem when you end up losing too much money when you didn't have too. Cutting your losses can be a difficult task. You always have that thought running around in the back of your head, "it will go back up". The best solution I've found for this problem is to decide a point, before you make the trade, that you will sell if it goes down. This is an objective point. You don't have to worry about emotions. If it hits it, sell, if not, hold onto it.
• Software: Having software like Forex Killer gives you a very profitable asset. Software acts just like an employee. You can set it up to watch trades for or do analysis of currencies to find profitable trends. It's a great tool to have and every trader should have it.

The automated software of Forex Killer will give you an immediate edge in the market. Make trades that work for your profit line. For more information on the Forex Killer software, check out Forex Charting Software.

Forex Trading - An Introduction to Using Signals As Trading Tools

Prices in Forex trading are the most unpredictable of any investment class. They change more and faster (commonly) than equities, bonds and even commodities (though they can be crazy too!) This gives non day traders a dilemma - As you can't sit by a monitor all day looking for price moves in real-time you risk losing a lot of money on open trades or not getting into good short window ones. But there is an answer - Use signals and signal services.
Forex signals are buy and sell indicators based on technical analysis. Technical analysis uses historical price and volume data to statistically analyze trends. The aim is to zero in, with a explicit probability, the odds of future price movements.
A signal may be as simple as 'Buy euros now at 1.1901'. Those signals are presented in any number of ways, by email, SMS text message to a mobile phone, IM message etc. Some are just flashing text and/or icons on trader software. The software integrates built-in algorithmic rule sets that use technical analysis formulas and aggregate that data with current market data to produce a trade signal.
For instance, one generally practiced technical indicator is something called MACD (Moving Average Convergence/Divergence). Without getting in particulars here, it uses the moving average - the change in an average price over time. A signal can be triggered when the value of MACD crosses above or below a pre-set trigger threshold. Buy when it moves up over the line, then sell when it crosses below.
Some signal services allow clients to automate the process of Forex trading even further. You can leave standing orders that when a certain signal is generated, carry out the recommendation. You get an email recommending 'Buy euros now at 1.1901' and the broker auto enters the order to do exactly that.
As with any investment instrument, it has to be used intelligently in order to avoid disasters. Totally automating buy and sell instructions is very very risky and can amount to automatically LOSING money. Using a signal service can make your life easier, but never abandon your investments entirely to an automated service.
If you plan to do that, you may as well simply turn your investments over to a broker with the instruction: 'Maximize my returns, but keep the risk down to a reasonable level'. Sensible, but not helpful if you want to control your destiny.
Signal services are certainly useful, however. They can relieve investors of the need to continually monitor prices. They can simplify the sometimes bewildering complexity of charts. They can aid the investor make more informed decisions about when to sell or buy and at what price.
All that comes at a price, of course. Signal services range from $50-$250 per month, though some are cheaper and a few are more. Only the individual investor can decide whether the cost is justified. As with any trading service, if you make more than it costs than you would without it, that's profitable.
But, buyer beware. There are dozens of firms that will be happy to take your money. Whether their analysis, and as a result, their signals, are worth anything is an educational experience in its own right.
At minimum, investors should use order types that help control risk. Stop-loss orders, limit orders and other common types are an essential means of limiting losses and timing buy and sell orders. That technique, commonly employed in stock trading, is even more critical in the volatile world of Forex.
From London, Nick now lives in Stockholm with wife Lena and Gunnar a Border Terrier. He likes long forest and lakes walks, is learning Swedish and loves making money from investments that are as cunning as a fox and go up even when the markets go down! He runs http://www.forexcommodityonline.com which is all about forex trading and systems.

Lack Of Forex Education A Major Cause Of Failure

Lack of thorough Forex education can be costly.
Some new traders open a mini-account and immediately throw $5,000 at it, jump in and get their feet wet. Within 3 months or less the account is finished.
What happened?
There is a lot of hype surrounding the Forex! The internet is full of claims that you can turn a few hundred dollars into tens of thousands within months or 1 or 2 years.
With the most rudimentary information, new traders are sometimes encouraged to begin trading long before they are qualified.
Regretfully, some get-rich-quick merchants merely teach a little technical analysis and basic concepts in the Forex education they offer and miss what amounts to the most crucial part of Forex education: Mental and emotional discipline.
Aspects Of Forex Education
So in brief, here is how the various aspects of a thorough Forex education could be prioritized in increasing order of importance:
1. Forex terminology and trading mechanics
2. Learning how to read charts
3. Learning how to use the online trading software
4. Learning a variety of technical indicators
5. Learning a handful of proven strategies employing those technical indicators
6. Practicing in a demo account
7. Opening a mini account (still viewed as a practice account)
8. Strict risk management
9. Developing mental discipline and control of emotions through experience
Let's take a look at this list a little more closely.
Notice the items of lesser importance have to do with the mechanics of trading. Most Forex education packages spend ample time on the mechanics.
But the most crucial aspects, the factors that can make or break a Forex trader are the last two, items 8 and 9.
Risk Management
Forex education must include a detailed explanation of risk management rules to be of any value.
You need to know how to calculate risk reward ratios and which trades your equity will allow and which ones you need to avoid.
Estimates vary as to what is the optimal risk percentage on any one trade. Some very conservative traders may suggest no more than 1%. As a general rule, 2% seems to be a reasonable figure allowing for a series of losing trades without putting the account in jeopardy.
More liberal traders even suggest 5% but in my view that is dangerous. Image the hit on your mental energies if you get 5 or 6 losing trades in a row if you trade with that kind of risk.
An effective Forex education will devote a serious amount of time to discussing risk management.
Mental Discipline
There is a reason why this is the most crucial factor of all. Most traders fail, not because they don't have a good trading strategy, but because they lack the mental discipline to follow it.
The Forex can take an undisciplined trader on an emotional merry-go-round and empty the account at the same time.
That is why any Forex educational package of value will spend considerable time offering strategies and guidelines on how to keep mental focus and emotions in check.
Some Forex education package are put together by individuals associated with online brokers who don't actually trade themselves. Avoid them.
Go With Professionals
If you are going to invest in Forex education, go to the professionals. Do a little research and make sure the people teaching you are seasoned traders themselves, preferably with years of experience.
So when contemplating the Forex, don't be in a rush. Take your time, research, identify a good mentor, and be thorough in your Forex education. Eventually, you may be in the small percentage of traders who make a substantial income from currency trading.
If you are looking for a comprehensive Forex education with mentoring from professionals check this:
http://www.vitalstop.com/Forex/forex-education.html
For a free pivot point calculator, Fibonacci calculator and the best free economic calendars click here:
http://www.vitalstop.com/Forex/tools.html
For a free candle & chart pattern recognition reference tool click here:
http://www.vitalstop.com/Forex/Candle-Chart-Patterns

Currency Day Trading- The 20 Day Plan

Currency day trading requires discipline and sticking to a strategy. If you have been struggling to make consistent profits, rather than looking at your strategy however, you need to pay close attention to your daily habits.
Here is a 20 day currency day trading plan which you should do for 4 trading weeks of 5 days each.
Establishing these habits will make a huge difference to your currency day trading results:
THE START ROUTINE
Step 1
At the start of each day you need to prepare the mind. Use visualization techniques and see and feel yourself following your strategy.
You only trade when there is a real opportunity. You carefully calculate your entry point, stop and limit levels. Almost mechanically you enter the trade.
You let the trade run and check back every hour or two and detach yourself emotionally from what is happening.
You take a loss as part of the deal and a gain as part of the deal avoiding extremes in emotions from joy to despair.
Playing through this sequence in your mind helps you start with the proper mental discipline.
Step 2

• You now fire up your charts and do a top down analysis. You take a look at the daily chart, then the 4 hour, then the 1 hour to get the big picture.
• You calculate your pivot points and draw them on your 15 minute or 1 hour chart
• You mark yesterday's high and low on the 1 hour chart.
• You take note of where price is in relation to the 200 EMA on the higher time frames to give you an idea of price direction.

Now you have done your preparation and your charts are prepared you can now start looking for trading opportunities.
THE TRADING ROUTINE
As you approach your trade and before pulling the trigger you make a conscious effort to relax. You monitor your breathing and you monitor your self-talk. No doubts, just confident, mechanical action is required here.
Once your trade is in you trust your technical indicators and just let the trade run. Yes price will move backwards and forwards, testing your resolve. You might get rewarded soon, or you may have to wait some hours for price to reach your target.
If after some time price has still not done what you expected and there is a volatile economic report on the horizon you now have to make a decision as to whether to take out the trade or at least move up your stop to minimize loss or protect some profit.
Again this is all done mechanically, in a controlled calm state of mind as you constantly remind yourself of the characteristics of the professional trader. Stay in control, don't panic, don't engage in any wild, impetuous actions.
THE REVIEW ROUTINE
At the end of the trading day you conduct a review and an analysis.
How did you handle your currency day trading session?

• Were you stressed at any point? Why? Did you engage in any destructive behavior such as moving stops, or adding to losing positions thinking price would turn?
• How can you avoid such behavior patterns in the future?
• If your trade(s) resulted in gains, what did you do right?
• If your trade(s) resulted in losses, what did you do wrong?
• Was the loss due to an error in technical judgment or a lapse in mental and emotional discipline?
• What steps can you take, or what reminders do you need to keep in front of you, to avoid this next time?

NOW APPLY
For the next 4 weeks apply this 3 step routine to your currency day trading. It will take discipline and resolve.
However, to do otherwise is to keep on doing the things you are doing and expect a different result!
To get out of a non-productive currency day trading pattern, action and analysis are required. Use the daily 3 step plan above to embed these productive habits into your mind and see the difference after 1 month!
Do you know the important lesson Mohammed Ali teaches us about Forex trading? Read it here:
http://www.vitalstop.com/Forex/Advisor/forex-online-trading-mohammed-ali.htm
For a free pivot point calculator, Fibonacci calculator and the best free economic calendars click here:
http://www.vitalstop.com/Forex/tools.html
See how to use trendlines to get an optimum trade entry point:
http://www.vitalstop.com/Forex/trendline.html

Benefits of Regulated Forex Brokers

Getting involved in the Forex market can be a very exciting time in an investor's life. Even if you have never taken part in this type of trading before, it is a relatively easy thing for you to learn the basics, although there is always going to be something that you will be able to improve on. The Forex market is available five days a week on a 24 hour a day schedule so it makes it one of the most accessible forms of trading that is available. Even with all of this, however, many people don't realize that the Forex market is not open to the public. In order for you to begin trading, you must go through one of the regulated Forex brokers that are available.
Choosing a broker is a very important part of making sure that the trades that you are going to make will be successful. Although many of the regulated Forex brokers are able to give you advice as far as the trades that you make, many times they are just there in order to help you to place the trades on the market. That is because there are a lot of software programs that are available which help individuals to be able to recognize trends and indicators within the Forex market that will identify successful trading patterns. Even so, it is still possible for you to talk to your broker in order to get advice, especially if you're just starting out.
Even if you use one of the online Forex trading systems, there is still going to be regulated Forex brokers who are behind it all. These are the people that actually make the trades and have the authority to set up the systems which will allow you to buy and sell within the Forex market. Most people don't give much thought to this entire process and they just use whatever system is available. Going with one of the regulated Forex brokers that is going to be around for the long term, however, can help you to avoid some sticky situations that may happen to you in the future. After all, the last thing that you would want to have happen is for your broker to decide to disappear on you or perhaps claim bankruptcy in the middle of making one of these trades for you.
Get my FREE Guide to Forex Trading E-book.
Discover more articles, resources, and product reviews at my personal blog. --> FreeDailyForecastForex.Com

Forex Trading For Beginners

The Foreign Exchange is proving to be an exciting area of investment for the individual investor. As opposed to the earlier scenarios involving secretive hedge funds and the fact that Forex was meant only for large financial institutions, multinational companies, or banks, today virtually anyone can add online Forex trading to their portfolios. The convenience of online trading and attractive liquidity of this largest financial market in the world makes it an interesting choice for first time investors.
If you are planning to invest in Forex, it is vitally important that you are aware of the basics of the currency trading, and know how different the Forex markets are from stock markets, futures and other investment options. There is no governing body that controls and monitors Forex trading, and there is no guarantee that you will be paid your profits; investors trade with each other on a credit agreement system. The Forex market is one of the most volatile markets, always in a state of flux, which can be a good thing if you trade at the most opportune moments. In general, all online currency trading is done via Forex brokers, who employ trading tools, analytic modes, and real time data to facilitate currency trading for you. Choosing a good Forex broker is definitely an important parameter that you will have to consider before you jump on to the Forex bandwagon.
When it comes to currency trading, all Forex transactions are done in terms of currency pairs. Currency pairs, like USD/JPY, EUR/USD, etc, are indicative of the two currencies of US dollar and the Japanese Yen, and the Euro and the US dollar respectively. Essentially, you can either buy or sell one currency in terms of the other. The Exchange Rate is the ratio of one currency in the terms of another. This expresses the value of one currency against the value of the other. The first currency in this ratio is the base currency, and the second called the quote currency or the counter currency. So in a pair of USD/JPY the US Dollar is the base currency, while the JPY is the quote currency.
Spot Forex is traded as one currency, in relation to a second currency. If a trader thinks the dollar will rise in relation to the Euro, s/he would sell the EUR/USD, which means s/he would sell the Euros in units of the US Dollars. The currency pairs are given a trade name, for example the EUR/USD is called a 'Euro', and the GBP/USD is called the 'Cable'. Investors should look at the possible rise of one currency's value against the other, so as to sell off the base currency.
To read more how to make money on autopilot, click here: Forex Autopilot Review. John Drummond works from home. He writes often on business, trading, and finances. There is more than one forex trading software. To read John Drummond's review of the 2 best ones, click here: Automatic Forex Trading Software.

The Number One Forex Trading Strategy

The Number One Forex Trading Strategy is .. actually a combination of strategies. The truth is that there a number of ways to really do well on a consistent basis in the Forex market. instead of loading you up with some non-existent "holy grail," I would rather provide you with real, proven and reliable Forex trading strategy. Here is the plan:
First, get your trading head on straight. You would be shocked at how many traders come to the currency market with all sorts of distractions and issues in their heads. How on earth can you make a wise decision in this frame of mind. It is actually, a good idea to review some monetary current events and data along with some basic trading principles about a half-hour prior to actually trading. I know this sounds monotonous but trust me, it is what the winners do.
Second, use your technical analysis tools properly. Trade on the Forex market with proven technical indicators. I like to start off with the 200 day moving average. This is the standard by which the "big money" judges the worthiness or timeliness of currencies for trading against another. It is obviously not the end- all- be- all but it is a great place to start. I then move on to the indicators that show me if a currency is severely over bought or over sold. If this is the case and the currency lines up with the 200 day moving average then I start to become very interested. Here is an example: The dollar is trading above the 200 day moving average. It is severely over sold. Now I am very interested in confirming this. How?
Third, use a reliable Forex trading software program with proven results and a positive reputation. I need clear and reliable signals from my software program and if these line up with the aforementioned indicators than I am feeling confident and ready to gain some significant pips. By the way, I have provided a link below for an objective review of the three leading software programs, I think it will help.
This method I just laid out is not pie-in-the-sky but it is proven and will more than likely make a winner out of you on the Forex market.
Get an Objective Review of the Most Popular Forex Trading Software Programs. Number One Forex Trading Strategy is the place to visit.
See What Forex Trading Software REALLY Works! forex-trading-system-review.com is the place to visit.

A Few Forex Basics

The term Forex is short for foreign currency exchange market, and it refers to the direct trading of foreign currencies. Forex is actually a virtual network of currency dealers who are connected by means of telecommunications. This interbank market was originally created in 1971 when international trade changed from fixed to floating exchange rates. The Forex market is open 24 hours a day and the currency exchange operations are continued through working days of the week.
Forex is a worldwide market, so when you are sleeping in the United States, dealers in Europe can be trading currencies with their Japanese counterparts. It is the largest financial market in the world, with the equivalent of over $3-4 trillion changing hands every day whereas traded volume on the stock markets is only 500 billion US dollars. Forex is part of the bank-to-bank currency market which is known as the 24-hour interbank market.
Forex trading is becoming more popular every day and it is an exciting and fast-growing marketplace. Transactions are conducted within seconds online and the markets move quickly and take new directions all the time. Forex markets are not based in one place meaning there isn't some large building on Wall Street where a load of people shout and waive dollar bills in an effort to get other people to buy them. Trading System Software to help investors in the foreign exchange market has been around for a long time, but just recently it has become extremely popular.
Trading Forex has become really accessible for the private investor because of the World Wide Web, and can be a recession proof business, but it must be noted that Forex is not a means of getting rich quick and executing foreign exchange orders with this aim in mind could well end in financial hardship. Trading in online Forex means that when you are investing in foreign exchange, you are buying one currency and at the same time selling another currency. Trading occurs over the telephone and through computer terminals at thousands of established locations, as well as within home-based trading businesses worldwide.
This article contains fairly basic information, but then I am sure there are many people in the world who don't even know what Forex is, so I haven't gone into any complex strategies here. In the foreign exchange trading markets there is always a risk that a trade will turn against you, and I must stress that the best way to learn the Forex market is to get some experience with live hands on trading. The single best way to learn how to trade in the Forex markets is to have a go.
Discover a lot more about Foreign Exchange Trading at forex trading.

Trade Reliably and Smarter - Forex Auto Trade

If you are looking to be successful in the forex market, you should consider beginning to forex auto trade. This entails using some sort of program in conjunction with your trading campaign. There are a few different types of auto traders which you can choose from.
Some forex auto trade programs are completely automated programs which handle every aspect of your trading for you without you having to do anything beyond entering some simple guidance data in terms of what you want to trade and accomplish through the program. They analyze the market and at the slightest indication that you stand to lose money, they trade away in your favor to always best profit or benefit you.
Other programs require more from you and rather than trading independently of you, they generate signals for you or basically act as tip makers so that you know what and when to trade to benefit and profit the best. The upside with these programs is that they are among the most accurate ways to trade available in this a business in which success is measured by accuracy. Many traders chose to forex auto trade purely for the signal generation associated with it and won't trade any other way. These programs additionally completely eliminate any chance for human error, instead relying on cold, calculated, and tested mathematical algorithms which take every aspect of the market into account.
The best way to forex auto trade typically is a combination of the two, with a strong emphasis on signal generation. Oftentimes, programs which are completely automated and do all the work for you don't offer very good signal generations, and more than that, they tend to make the trader lazy and you don't learn a thing about the market. Ideally, you'll become a better trader through the program as you'll be trading more accurate and you'll gain a sense of how the market changes and reacts to different things, but you'll still have basic safety nets such as stop loss and take profit protocols in the software intact so that the program will still help ensure that you'll land on the winning side of the vast majority of your trades.
If you're interested in earning some real and reliable income, visit http://www.forexautotradingreviewed.com for in depth reviews on the leading software to forex auto trade with and don't wait another day before you begin carving out your niche to financial independence.

Learn How to Successfully Handle a Forex Managed Account With the Help of Robotic Software

If you are one of the many who have just started taking interest in the potential monetary returns of trading in the FOREX market, then the first thing before you do anything else is to learn about how to successfully trade FOREX on autopilot.
Sure, you can try doing it using a very hands-on approach but that would set you back instead of taking you further.
Many traders use autopilot systems that basically does all the trading for them, day in and day out. So you can go do what you want or need to do and not worry about not making any money at all. However, don't think that just because you have this autopilot system you can forget about learning the basics of trading FOREX.
That is a big no, no. You would still need to learn and understand how the market ebbs and flows. Why? That's because it's one, if not, the only way to be truly successful in trading currencies in the FOREX market. Of course there are plenty of reliable autopilot systems like the Forex Tracer and the Forex Funnel which are both effective and efficient in searching for the best possible trades.
After learning the basics of Forex trading, another thing you should consider is to get more information as well as to familiarize yourself with the numerous techniques and strategies used in trading and you can do that through getting into "clubs" such as Forex Brotherhood that would provide you with all the information you need.
The best part about these clubs is that you get information from the best of the best in the industry so you are guaranteed that whatever strategy or technique you will learn has been tried and tested.
I personally started out with this remarkable and easy to use automated trading software named Forex-Brotherhood. And amazingly, it made my work so simpler and make my Forex trading so hassle free that now I Literally earn money on auto pilot after 1-2 months of set up. You can Check this and some other great software and it reviews - http://revenueboosterz.com/forexsoftwarereview.html
To know more about Forex trading and automated software click here FOREXROBOTREVIEWS

A Guide to Swiss Banking - Part 1

In this guide, you will learn about the benefits of Swiss banking. You will also discover how to open a Swiss bank account, and how to use it for investment and savings purposes.
Introduction
Swiss bank accounts provide strict privacy, total confidentiality and are also tax-free.
With a Swiss bank account you can also earn interest in the currency you wish to hold your account in (USD, CHF and EUR). You can also receive an international credit card and a numbered account if you choose.
Typical Swiss bank account clients
Typical Swiss bank account clients come from all walks of life, from international consultants and sales representatives to expatriates and computer programmers. In fact, anyone seeking to gain financially (possibly through trading in the capital markets, the sale of real estate, inheritance, or an insurance policy), or who wants to protect their estate in the event of divorce or inheritance, can take advantage of the benefits of Swiss banking.
Does it cost anything to open my Swiss bank account?
Opening a Swiss bank account is often free of charge.
Which documents do I need to open a Swiss account?
Opening a Swiss bank account has never been easier.
Before you arrive in Switzerland, you will be asked you to bring with you some of the following documents:

Passport You might also be asked to send an authenticated copy of your passport’s photo page, showing your passport number, before you arrive. Financial background These documents show what you do for a living, for example a copy of a current bank statement, contract of employment or tax return. The exact documents required depend on the nature of your professional life. Origin of deposits These documents show the financial origin of your deposit. For example if you are depositing funds from the sale of a house, you might be asked to send proof of the sale, a copy of the real estate agent’s listing, or similar. Personal Information You are usually requested to provide only basic personal information.This information is required in compliance with Swiss anti-money-laundering laws and to understand your banking needs. All your information should be held in strict confidence.

Swiss bank accounts for US residents
If you live in the US you can still open a Swiss bank account. However, there are some considerations.
You should not invest in any US securities from your Swiss bank account if you want to keep this account private. Also, you cannot invest in most investment funds such as mutual funds.
Security deposit
To obtain a credit card for your Swiss bank account, you will be required to make a security deposit. Depending on the bank you choose, this deposit can be as much as 1.5 to 2 times your monthly credit limit. For example, if you have a maximum monthly limit of USD 5,000, you will be asked to deposit anything from USD 7,500 to USD 10,000. This security is held in another account at the bank and invested in a fund. Your deposit will be returned to you when you cancel your credit card and pay any outstanding bills.
Question 1: Can I get a credit card without a security deposit?
No. No bank will agree to issue a card without a security deposit.

Question 2: Can the security deposit be used to pay credit card bills?
No. Bills are sent to you, and you must pay them separately. If this is inconvenient, you can always authorise your bank to debit the amount from your account and they will hold the bill until the next time you visit the branch.
In the next installment, we deal with making deposits to and withdrawals from your Swiss bank account.
John Gaines
Forex trading systems

Losing Money In Forex - Invest In Automated Forex Robots For Profitable Trades

Many people have become very successful in the business of Foreign exchange. And it is without a doubt that Foreign exchange is the most profitable business in the market today that is why many people are eager to join in the bandwagon thinking that Forex is a goldmine when it comes to earning big in this business.
While there are those who succeeded in this business there are those that are loosing money in Forex and even their entire savings for that matter. So what are the trade secrets of this people that make it big in the Forex business, their secret is by being well-informed and having the proper tools that will aid them in trading successfully.
Of course they have their own share of loses but they are able to take that risk, stand up and minimize their loses, also they have invested in software that is an automated forex robot to give them profitable trades.
This Forex robot gives them accurate data, real time market liquidity movements, charts and data all over the world which will enable them to think what the best move for their investments is and these forex robots could be programmed according to the strategies you wish to execute in your trading.
It can also be set to automatically trade according to the market data that it has collected. This automated forex robots also alerts its user for any market changes all over the world. This robot makes trading easier because you are able to see the world's current trend without leaving your home or office. Thus increasing your chances to earn big.
I personally started out with this remarkable and easy to use automated trading software named Forex-Funnel. And amazingly, it made my work so simpler and make my Forex trading so hassle free that now I Literally earn money on auto pilot after 1-2 months of set up. You can Check this and some other great software and it reviews - http://revenueboosterz.com/forexsoftwarereview.html
To know more about Forex trading and automated software click here Robotics Forex software Reviews.

Forex Automated Software - Why Do They NEVER Produce the Gains They Claim When You Trade

You have seen the ads $100 get you an income for life 90% accuracy and you get financial freedom and never have to worry again however the reality is very different for one specific reason...
The track records look great but there not real and that's the catch.
It always seems odd to me, someone can claim they can make you money, when the only evidence they have is a simulated track record on past data.
Let me ask you Question:
I am going to give you all the data for say the last 10 years, so you know EXACTLY what prices have done. Now go and execute trading signals and buy and sell wherever you wish and see if you can make a profit - Could you do that?
Sure you could, anyone could - but the problem is, in the real world you DON'T know the price in advance and of course trading then is much harder.
It's hard to believe that people take these track records seriously but they do. Normal sensible, people, n everyday life, let their greed get the better of them and fall for the clever copy, buy the system and then they get taught some manners by the market.
The systems may sound convincing but if everyone could get 7 figure income profits for an outlay of a night down the bar, no one would work and everyone would be a trader.
So if you are thinking of investing $100 or so in a forex trading system with a simulated track record, take my advice - spend the money up the bar, at least you will get some enjoyment for your investment.
You Can Make Money Though!
Of course you can but like in all areas of life where there are big gains to be made you need to put in some effort.
You need to learn the basics and get confidence in what you are doing. Forex trading offers incredible rewards for people who are prepared to work hard, so get the right forex education, be sensible and you could make a lot of money.
You get nothing in life unless you put in effort and no expert forex trading advisor is going to lead you to riches. Ignore the hype, do the work you need to and enjoy currency trading success.
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Automated Forex Robots - Easy Money?

Perhaps you heard about such term as Forex. It is abbreviation in fact, and it stands for foreign currency exchange. I suppose you also heard about the possibility of earning pretty good money doing forex in Internet. There are a lot of benefits to trade currencies in Forex online, for example, it is open for trade 24/7 all over the world. FX market is extremely saturated with money. But did you know that it is possible to earn money on autopilot, using so called automated forex robots.
Automated forex robots just search and pick up signals, when to close or open your trades, by analyzing past trading data. The best ones are really precise in their calculations. Everything is done on autopilot. Although the money you will earn from automated forex robots depends on your trading skill, but generally, even for a newbie, who is only starting his forex journey, it is possible to earn pretty good sums of money.
There are many automated forex systems, but not all of them are worth the money they cost. Some automated forex robots could cost you up to ten thousand dollars and are not really worth a cent. The best automated forex robots are usually very expensive and are private only, which means only limited group of users can buy it. But there are also robots, which are available to public and do not cost that much. It is hard to find such programs, but it is possible and I am using one.
You can get a free report on automated forex robots and read my complete review of Forex Tracer on my website. To check it out just click this link http://www.automatedforex.info

Day Trading Basics - Selecting A Broker

You may wonder if you really need a broker. The answer is yes. If you intend to day trade, then you must have a broker. And it doesn't matter whether you are trading stocks, futures, forex, or options: unless you are a member of the exchange, you won't be able to place your orders without a broker.
Stock-, futures-, and options-brokers are required to pass different tests in order to obtain their licenses. These tests ensure that the broker knows his business and will be able to support you if needed.
In most cases, brokers earn their money from commissions on sales. When you instruct your broker to buy or sell, they earn a set percentage of the transaction. Many brokers charge a flat 'per transaction' fee.
There are two types of brokers: full-service brokers and discount brokers.
Full-service brokers can usually offer more types of investments, may provide you with investment advice, and are usually paid in commissions.
Discount brokers typically do not offer any advice or research; they just do as you ask them to do, without all of the bells and whistles.
So, the biggest decision you must make when it come to brokers is whether you want a full-service broker or a discount broker.
If you are new to investing, you may need to go with a full-service broker in order to ensure that you are making wise investments. They can offer you the skills that you lack at this point. However, if you are already knowledgeable about the market you want to trade, then all you really need is a discount broker to make your trades for you.
Selecting the right broker can be a tedious battle for most traders. There are more than a hundred online brokers today and additional choices are becoming available all the time.
You'll need to double your diligence if you're looking for a forex trading broker. Since the foreign exchange market is worth trillions of dollars, it offers lucrative opportunities for brokers to set up their firms online. And since the foreign exchange market is decentralized, it can be hard to identify quality brokers amongst all of the unscrupulous brokers with fraudulent practices.
Your chances of finding an honest and reliable forex trading broker will dramatically increase if you use the following guidelines:
- Always request references that you can actually speak with.
- Do a check with the local regulatory agencies and make sure that the forex trading broker is registered. For U.S.-based brokers, see if they are registered as Futures Commission Merchants (FCM) with the Commodity Futures Trading Commission (CFTC), and registered with the National Futures Association (NFA).
- Compare the account details, such as the minimum deposit required, leverage, spreads, and so on. Ask them specifically if commissions are chargeable, lot fees, etc. This is to ensure that you do not incur hidden costs. Some sneaky brokers will deliberately give you an impression that they are the cheapest to use, but in actual fact, they'll hit you where it hurts when it comes to hidden charges.
- The trading platform needs to be user-friendly. Many traders, especially first-timers, find it challenging to navigate trading software. Just making sense of the charts and currency prices can be a challenge. So, if there are demo accounts, try them.
These are just a few recommendations, but they should help immensely. Remember, this broker or brokerage is going to be your teammate when it comes to making you a wealthy person. So be picky and be cautious.
Markus Heitkoetter is a professional day trading coach and author of "The Complete Guide to Day Trading," which lays out the art of day trading in a practical hands-on approach. For more information on Heitkoetter's day trading manual, please visit http://www.thecompleteguidetodaytrading.com

Penny Stocks Profits - Money Management

Penny stocks, and day trading in general, are attractive because profits can be realized in a short amount of time. Unfortunately, that short-term profit often puts traders into a short-term mindset. And when it comes to money management and goal setting, short term thinking can be devastating.
The very reason for day trading is to make a greater profit than might be possible in any other investment vehicle. And it certainly can be if done correctly. But if the mindset is only for the short-term goal of getting rich quick, then you can be guaranteed, disaster looms ahead.
To truly cash in on penny stocks profits, one must have a longer term outlook. Now, I'm not talking about the time period of a trade. I'm talking about the overall plan and expectations. Not trade-by-trade. Not even week-by-week. But how about developing a life-time system? (Sort of like a developing a life-time mindset of eating healthy as opposed to crash diets.)
Two Aspects of Trading
Let's examine two aspects of trading. The first is when to get in and when to get out of the market. When to pull the trigger, where to set the trailing stops, when to make the exits. To help you in these decisions, there are trading systems, software, newsletters, hot lines, trading reports, and the list goes on. These are all tremendous helps. (See below for some of the better ones available.)
But the second aspect often goes begging - and it is a decision made every time a trade is executed. That decision is: how much of your capital are you going to risk on one trade? This decision often has more to do with your success than knowledge of the market itself.
Your decision of how much you are willing to risk must be made way ahead of the moment you pull the trigger to make your trade.
A Simple Example.
One trader followed the advice of a trading service (perhaps much like Marl, the Stock Trading Robot). For a year this trader made trades according to the advice given. At the end of the year his account reached $27,000. The next year, he pulled in $15,000. He now was in profits for $42,000. Pretty good, right?
Trader number two used the same service. Contrary to trader number one, this trader applied conservative money management principles. His first year netted him $63,000. (If you're slow with math, that is a 233% increase over trader number one.) The second year, he continued in his conservative pattern and brought in $113,000. His total profits added up to $176,000. A whopping 419% more than trader number one.
The third year showed a downturn in the trading service and there was a loss of $15,000. Trader number one wound up with a profit of $27,000 for the three years. Trader number two, however, stood at $102,000 in total profits. Hence trader number one wound up giving back all his profits.
The question is, which trader would you rather be?
What Can Money Management Do For You?

1. Keep you from being wiped out.
2. Allow you to approach system trading with a plan and the ability to continue trading even if the system fails miserably.
3. Increase your profits five- to tenfold (500 percent to 1,000 percent) without increasing your overall risk of the account. (It may even decrease the overall percent at risk in the account.)
4. Protect your profits should the system fail you.

There are three vital questions that every trader must ask regarding money management:

1. What is the goal of your account?
2. What is the total risk you are willing to take to achieve that goal?
3. What are the available resources to achieve your goal without violating your risk tolerance levels?

With every penny stock day trader the answers will be different. What is right for you might not be right for your trading buddy.
Understanding money management will allow you apply the principles to your trading to accomplish your goals - without violating your risk tolerance levels.
Three Simple Tips in Money Management:

1. Limit Order: Know how to place a limit order when buying stock. No surprises. You buy only at the exact price you specify, usually somewhere between the bid and ask price on your screen.
2. Stop-loss market order: Immediately after you buy, place your stop-loss market sell order with your online broker. This 30-second act of typing in symbol, price, shares, and the time period during which you want this order in place will automatically sell your stock later, at the price you have predetermined should the market take a surprise nosedive.
3. Sell order: Decide on the price at which you'd like to sell. Don't get greedy. (Greed and fear are the twin killers in trading. Keep greed glands in check at all times.) Keep that number written down on a piece of paper and keep it close at hand. If the stock zooms up further, you can always buy back in for $8 or $10 or $30 commissions. That better than losing your entire investment.

Online day trading is a tremendous opportunity to grow your cash reserves. But please educate yourself along the way. Just as a person can self-educate in the areas of finance and the Internet, you can learn how to safely profit by day trading penny stocks.
In the area of money management ask yourself:

1. Are you strong enough to create a plan of action and stick with it?
2. Are you strong enough to walk away when winning? (Hint: Emotions are dangerous to your trading health.)

We've all read the statistics that approximately 70% of all traders lose money. Isn't it ironic that in the trading industry, more than 70% of all traders ignore money management. Hmmm. Could it be coincidence?
Only you can determine if this venture is for you. And if it is, be wise enough to include prudent money management into your trading system.
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Managed Forex - How to Manage Your Forex Trading

Money changes everything. This line from a song takes a pitch on how money affects man. People from all walks of life - poor or rich - think of numerous ways on how to earn money or even how to grow them into million bucks. We are not survived by love alone, money still matters.
One of the most-sought after money-making investments nowadays is the popular forex trading. You watch them in the news, read them in the papers, see them in the movies - everybody's talking about it, and you don't even know a thing that people really do get rich from a well-managed forex trading.
If you are a novice, we are providing you with guidelines on how to start with forex and have a successfully managed forex trading all throughout.
Knowledge is Power. The most successful businessman in the world is the man who has gained true knowledge and master of the business. You can't engage your money at once just because people are telling you this is how you do it. If ever their opinions matter, it is your opinion that matters the most. Search for numerous information about the business. Read them thoroughly and learn them by heart. Try joining seminars or workshops, watching online videos and tutorials, and don't stop until you know you have gathered more than enough information.
Right Trading System at your doorstep. Before finally making a choice on which broker you have decided to put your money on, study all the different systems of brokers and do some sort of charting or auto trades on the computer.
Work out your Trading Plans. Get your objectives, market strategies, point of investment and expected return on investments sorted out. If you have not finalized these details, then do not try to jump into the water yet. You will likely lose whatever you have invested. If in case you have a well-managed forex plan ahead of time and still failed to profit from the business, do not fret for there is always room for improvements on everything. Find out where you have mistakenly set your plans.
Managing your money. In every business or investment, there are always possible risks or dangers. Learn how to manage your money and protect it from losing terribly. As I have mentioned earlier, set your objectives on your profits and set protective indicators on when to make a stop. Because if you lose everything at once, you might miss a great chance along the way since you have no capital anymore. Also, try managing your personal expenses with it.
Everything is learned thru discipline. Especially if you are about to target a well-managed forex trading success from the beginning, it is important that you learn the art of discipline. Do not be moved by your emotions along the way; do trade with your trading plan at hand.
Once you have discovered the right formula to a well-managed forex trading, forex business can really be a smart and beneficial move to grow that capital in hand.
John Callingham shows you which managed forex techniques, systems, and strategies actually work and which ones do NOT. Learn how to profit off of rising world currencies at http://www.ForexReviewInsider.com

Mini Forex Trading - Learn the Tricks and Skills Needed to Succeed on Forex Trading

Mini forex trading is an advisable way to start trading the forex if you are staring with a small sum of money. You can test various forex trading systems without a lot o risk, keep good records on your trades and the result, and refine your trading techniques. Mini forex trading is a great way to get a feel for forex trading and learn the tricks and skills needed to succeed without having to go to great expense. Why not try mini forex trading now and see just how easy it is to profit with forex trading. Mini forex trading is designed to allow investors to experience forex trading with minimal capital risk of loss.
Mini Forex trading offers so many benefits to small traders. Apart from very small amounts of capital, one can start quickly and with expert guidance. Mini trading was designed for individuals or group of people starting out in the trade market that are unable to invest a large sum of money. In fact, mini forex trading is advisable for beginners that are new to the forex trade market to allow them to first get a feel. Mini forex trading accounts that cost a few hundred dollars allow you to trade in a real market environment without exposing yourself to too much risk. It's advisable to open a mini forex account first to gain valuable skills and experience before getting a regular trading account.
Mini Forex Trading for instance is specially designed for people who are just recently engaging to currency trading. The capital that these people have is also limited. Mini forex trading is a great way of feeling that I can get to learn the tricks and techniques that can and want to succeed, the foreign exchange transactions without having to spend too big.
Investing a mere $250 will get any potential investor a mini Forex trading account with very nice leverage! Investing of any kind is difficult to master and it is the people that are able to come close to mastery in financial trading that are able to live the really good lives. Therefore it is important that you keep at Forex trading if you want to make it a long term viable strategy of yours to become financially free; do not give up on it no matter what happens.
Traders are not limited to only trading one lot at a time, so these accounts are ideal for increasing exposure as trading confidence builds. To make an equivalent trade to one standard lot, a trader can just trade 10 mini lots. Traders show different prices because they "read" the market in a different way; they have different opportunity and different interests. A broker who has more than one price on one or both parties will automatically optimize the price.That means, the broker will always show the highest bid and the lowest offer.
For more information on Mini Forex Trading visit our site: All You Need to Know About UK mini forex trading.

Forex Day Trading Training Tips For Forex Traders Wanting To Win More

There are many Forex day trading training tips that will help Forex day traders of any level secure more winning trades and more Forex profits. This article will discuss some Forex day trading training tips that the professional Forex traders use to generate more Forex winning trades than losses. Keep reading to get access to a $100,000.00 simulated trading account.
Forex Day Trading Training Tip 1: Don't second guess your indicators. You must believe in them and what they are telling you at all times. Be brave enough to listen to them and analyze the clues that they are giving you.
Forex Day Trading Training Tip 2: Don't listen to anyone else about Forex day trading unless they are proven to be successful Forex day traders. The bottom line is it's your money, not anyone else's. You have no obligation to listen to anyone else.
Forex Day Trading Training Tip 3: Stay positive at all times and focus on your Forex day trading success whenever you trade. Understand right now that you will make mistakes, I guarantee it. Everyone has and everyone will and anyone who tells you they've never made a mistake is lying! The important thing is always to accept you've made a mistake, analyze it and immediately move on from it and learn from it.
Forex Day Trading Training Tip 4: Remember at all times that generally speaking, currencies always trade well. Always look for clues, for VERY convincing evidence that price has made up its mind and follow its lead.
Forex Day Trading Training Tip 5: As the saying goes, practice makes perfect and nowhere is that more obvious than on the Forex trading platform. Practice, practice, practice, and continue your Forex trading education constantly forever. You can never know too much.
Forex Day Trading Training Tip 6: Never ever take trades in between pivot points. That area is dead man's land and MUST be avoided at all costs. There's no need to ever go there. There are enough clues and signals to avoid the area indefinitely.
Forex Day Trading Training Tip 7: Don't be scared away from the Forex market because you think it's too risky. The Forex market is the most financial liquid market in the world - how does $1.5 TRILLION every day in the US sound?
Forex Day Trading Training Tip 8: Always keep a look out for combinations of patterns as well as obvious price patterns.
Forex Day Trading Training Tip 9: You must always follow the price's lead as it always determines which set of pivot points it will work with.
Forex Day Trading Training Tip 10: You don't have to be greedy. If you want to exit with some profits then do so.
I have discussed some essentials and fundamentals of Forex day trading training. The fact is that only 10 percent of Forex traders are generally consistently successful. To learn how to start your Forex trading career in the select 10 percent and remain there I strongly suggest you visit the website below.
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Forex Auto Pilot Complaints - Is It a Scam?

Forex Auto Pilot, an automatic forex trading software created by Marcus Leary, is one of the most popular currency trading softwares in the world today. It has been used by thousands of people and overall enjoys positive reviews. However, not everything is perfect with this software. There are some common complaints about Forex Auto Pilot which it will be good for you to know about before you decide to get it and start using it.
Forex AutoPilot Complaints
1. The software doesn't run on MAC computers. Forex AutoPilot was designed for PC's which run on Windows, so it won't run on MAC by itself. However, there is a Free software you can download which can emulate Windows on your MAC and which will allow you to run Forexautopilot without any difficulty. I know because I talked about it with the Forex Autopilot team myself.
2. The software is difficult to understand - It is true that some people find Forex Autopilot to be a bit complicated at first. But consider what this software does: it trades for you automatically. Of course it will be a bit hard to understand. Every software has its own learning curve. What you need to do is spend the first 2 weeks trading with a demo account until you grasp exactly what the software does.
3. The software doesn't always profit, it loses sometimes - No software is 100% foolproof, and you still need to trade with stop loss prices like you normally do. What Forex Autopilot does is to eliminate part of the risk and save you a whole lot of time. You need to examine its performance over time, and it will most likely make you more money than you normally do.
I hope this summary of common Forex Auto Pilot complaints has been useful to you. Overall, many people recommend this software in spite of these complaints. The decision is yours to make.
To read more about this software, click here: ForexAutoPilot Reviews.
John Drummond works from home. He writes often on business, trading, and finances. There is more than one forex trading software. To read John Drummond's review of the 2 best ones, click here: Automatic Forex Trading Softwares.

A Brief Look at the Fascinating World of Forex Exchange Rates

One of the primary methods of making a profit on the foreign exchange or the Forex market is to be able to purchase and sell currencies in such a way that whatever fluctuations there may be in the prices will end up helping you to earn a tidy profit. Therefore, understanding the meaning and nature of foreign exchange rates is crucial to your success in Forex trading and though it might, on the surface, appear to be a simple matter that anybody can learn, in reality it isn't all that straightforward a subject and therefore requires some in-depth knowledge prior to a person being able to succeed in Forex trading.
A Rich History
Actually, there is a rich history behind the foreign exchange rates so you need to understand the importance of understanding why things happen the way that they do on the Forex market and also educate yourself in making the right decisions so that you can capitalize on your knowledge.
So, to actually comprehend foreign exchange rates, you must be certain of what they in fact really are A definition of foreign exchange rates would be that they are the value of one currency as it relates to a second currency.
Therefore, when the exchange rate between two different currencies is listed as being a first currency fetching 1.20 of the second currency, then the foreign exchange rate is 1:1.2. Additionally, you will also need to comprehend why currencies have values that are different and this can be best explained by the fact that after the valuation of currencies throughout the world moved away from 'gold standards', the prices of currencies started to be pegged against the US dollar, and other currencies fluctuated upwards or downwards as they related to this currency in a range of not more than a single percentage.
Hence, this was the start of foreign exchange rates and it was commonly referred to as fixed exchange rate. Since these changes in the method that the trade is carried out in recent times, both the fixed exchange rates and the gold standard have been abandoned so the forex exchange rates are now typically known as fluctuating exchange rates.
In reality it means that presently forex exchange rates are influenced by the forces of the market and when demand for a specific currency exceeds its supply then the Forex exchange rates will end up going higher for the currency being demanded, and the opposite would occur should the demand decrease.
Now that the US dollar is the base currency in Forex trading, the US government merely prints additional dollars and then sells these new dollars to various countries in the form of debts, though due to rising oil prices as well as stronger world economies, currently the US dollar is losing its vice like grip as the predominant currency of the world which is eroding the exchange rates of the dollar and the United States closest trading allies are affected as well.
Listen to Korbin Newlyn as he shares his insights as an expert author and an avid writer in the field of finance. If you would like to learn more go to Forex Trading advice and at Forex Broker tips.