Tuesday, March 24, 2009

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.

Treasury Secretary Timothy Geithner testifies on Capitol Hill in Washington, Tuesday, March 24, 2009, before a House Financial Services Committee hearing on AIG.  (AP Photo/Pablo Martinez Monsivais)Reuters - The Obama administration on Tuesday mounted a full-scale push for government authority to shut down troubled institutions like insurer AIG to avoid the need for future bailouts.

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Friday, March 13, 2009

Benefits of Forex Trading - Strategies and Flexibility

One of the benefits of Forex trading market is that you are not limited to selling short or long which in turn means that there are less restrictions. With the ability to choose to sell at any given time regardless of whether the market has fallen or risen for one country's currency gives the trader huge potential for a large profit margin.

Benefits of Forex

  • Flexibility
  • Leverage
  • Below a 1% change in currency most days

Unlike most markets Forex market is 24 hours a day and never sleeps. You do not have to wait for the market to open which means you can trade at all hours of the day. This also means you can respond quickly to however the world's latest movements and news might affect market trends. Another benefit of Forex is that because it is up and running 24/7 it makes trading more flexible for the part-time trader so that he can still work another full-time job. By taking advantage of this luxury and individual can trade in his free time and not be hassled by the thought of limited hours.

What allures more people than anything in the Forex market is the tremendous leverage one can gain. This means that an individual can control a huge amount of money with very little money invested. An example of this would be if a trader had put $,1000 into a 150:1 Forex account he would have the potential purchasing power of $150,000 in the currency market.

Best of all the Forex market tends to be a lot safer than other markets like the stock market. Stocks can easily fluctuate by 10% on any given day whereas most major currencies within Forex only fluctuate by 1%. This means for the timid investor Forex is a perfect opportunity for a learning experience and does not require you to have a huge investment nor does it require you to be a daredevil. The risk is comparably low.

Unfortunately one of the downsides for most novice traders that they will come across in Forex is that it has a high learning curve. This often means that it will take a while before the novice trader gains the experience and knowledge necessary to enjoy the full prosperity of the Forex market and their investments. Luckily this is no longer the case. Expert traders are now willing to share their advice, knowledge, and help beginning Forex trader's understand the market and make lots of money. One of the best 20+ year expert veteran Forex trader who is offering his help and is by far one of the best ones out there coaching is Jason Alan Jankovsky at the Forex Brotherhood

Reuters - Ford Motor Co has granted Chief Executive Alan Mulally options to buy 5 million shares in the automaker under a long-term incentive plan, it said in a U.S. regulatory filing on Friday.

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Wednesday, March 11, 2009

Which Courses in Currency Trading Should I Use?

There are tons of courses in currency trading out there. How do you know which one to choose? Well it really depends on what it is you're looking for. If you're brand new to currency trading and want to find out the basics or if you have experience and are looking to learn how to profitably trade the markets?

If you're a beginner to forex and what to understand the first steps of trading forex, then a couple of options are babypips.com or any number of great forex forums like forex factory. Babypips has a ton of great mini courses in currency trading. They have a new lesson almost everyday. Their approach is both very accessible and fun. It's just a perfect place to quickly learn the basics of currency trading. Another great place to learn are forums like Forex Factory. It can be a little daunting and is not as well organized as Babypips but there is a mountain of information on some of the basics of trading.

If you are a seasoned veteran of forex trading and still struggling along, then you are probably looking for something more advanced. You've struggled with the markets and are looking for a solution. I'd recommend trying to understand price action. Try to find courses in currency trading that focus on trading without indicators. I know this may sound strange considering everywhere you look, people are talking about trading systems with stochastics, MACD, moving averages and many other lagging indicators. But if you can understand the underlying reasons of price movement by looking at a naked chart, then you'll have an advantage over 95% of the trading public.

Forex trading success is much easier once you understand what you're looking at.

Make sure to check out my honest, unbiased reviews of forex trading courses.

Disgraced Wall Street financier Bernard Madoff (C) leaves US Federal Court after a hearing on March 10, 2009 in New York. Madoff's victims are set to confront the alleged swindler when he pleads guilty Thursday, but recovering the 177 billion dollars Madoff allegedly stole will be harder.(AFP/File/Stan Honda)Reuters - Stocks rose for a second day on Wednesday after JP Morgan Chase's chief executive said his bank was profitable in January and February, echoing comments by Citigroup's CEO a day earlier.

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Sunday, March 8, 2009

Best Forex Trading Software

The best Forex trading software on the market is the Forex Killer and I want to talk about it. When it first came out it was looked at with a lot of criticism, not because of its quality, but from other products on the market that turned out to be duds. Even with the criticism at the start, the greatness of this product prevailed, even appearing on CNN.

A great feature of this software is that it is an independent program, meaning it doesn't use it's own special date feeds. You can manually add your own and use that. It is very easy to import such data as SignalSoftware, DealBook360, and MetaTrader4.

When you first start using this software leave all the settings as default, especially if you're new to Forex. The software is very useful, it's just like anything, you need to learn how to use it properly. If you add in an extensive leverage value, you may find that your currency has already been traded off by the time it turns around and becomes profitable for you.

Lastly, from my own person use with this software, I've had more profitable trades with up and coming currencies. For example I had a good run with the Canadian dollar that has rose from 63 cents US to parity with the US dollar. I've also had great success with the Japanese Yen that is continuing to climb against the US dollar.

I've had to say the best Forex trading software that I use is the Forex Killer. It will help you process the enormous amount of data that comes with currency trading.

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.

Reuters - Goldman Sachs' chief executive said he opposed the full nationalization of banks, but thought government stakes could be sensible in extreme situations, in an interview with German weekly Welt am Sonntag.

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Wednesday, March 4, 2009

Who Offers the Best Currency Trading Training?

Currency trading training can be found in a ton of different venues. Ever since forex has become the popular and less expensive alternative to day trading stocks, traders have been looking for currency trading training. The problem is that there are so many trading courses online. How can one possibly decipher the reputable training programs from all the garbage that's out there? It seems like everybody has a trading system. How do you know which ones are worth your time and money?

First off, if you see a trading system that requires a lot of indicators (stochastics, MACD, etc...) to use, run the other way quickly. If you go to free forex forums, you can find literally thousands of trading systems that use basic indicators. Its nothing new. And not to sound cynical, but they are all pretty much the same. You are using technical indicators, which represent past information, to guess which way the market is going to turn. How can you trust a seller who trades the market with these tools? It's kind of like being taught how to ride a bike from somebody who is still using training wheels. It just doesn't make any sense.

Also try to find currency trading training that offers a money back guarantee. Let's face it, no matter how good the training might be, it just may not work for you, for whatever the reason. You want to know that you can request your money back. No questions asked. No harm, no foul.

To find out how I had forex trading success just trading price action, make sure to check out LearnForexDirectory.com to see forex education reviews

Reuters - New York state's top legal officer issued subpoenas on Wednesday to seven executives who received tens of millions of dollars in 2008 pay from Merrill Lynch & Co before it was taken over by Bank of America , a person familiar with the investigation said.

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Saturday, February 28, 2009

Currency Swing Trading - Why Novices Can Build Big Profits With This Method

Currency swing trading is the perfect method for a novice to use because it overcomes the main barrier that most traders have when trying to achieve currency trading success...

It overcomes the problem of discipline. Most traders lack discipline and it's the big difference between success and failure and swing trading requires very little as profits and losses come quickly. It also overcomes the impatience of most traders who like to trade.

Before we continue you might say well, forex day trading requires even less because the moves are shorter but the problem you have with day trading is it simply doesn't work.

Why?

Because all moves within a day are random and you can never get the odds on your side and you will eventually lose.

You get a lot of vendors telling you that you can make money day trading but look at their track records - there all simulations in hindsight and that means nothing.

Swing trading is easier than long term trend following from both a discipline point of view and a patience point of view but can be just as profitable.

You're Aim

You are looking for reactions within the major trends when prices get over bought and oversold and trading into these levels and a swing trading based upon the following will work.

You simply need to use trend lines and Bollinger Bands - the latter tells you the volatility and is a great tool. Check our other articles for more details. When prices become overbought and oversold and testing resistance or support you have a potential trade.

Confirm the Move

Before it gets to this level you need to check the strength of price it should weaken into resistance and strengthen into support ( never guess always wait for confirmation), you check the strength of price with momentum oscillators and two great ones to use are the stochastic and RSI.

You're Stop

If they support your view you trade and your stop goes behind the support or resistance level tested.

Hit and Run

You should take your profit early and not trail a stop and your profit should be taken in when the price moves toward the next level of support or resistance. Currency swing trading profits disappear quickly, so you simply take them early or "hit and run and bank"

Simple but Effective

Now the above is a simple currency swing trading system I have used for 20 years or so and it's worked well for me and can for you and you can pile up triple digit profits. Don't be put off by its simplicity all the best systems are and this means they are robust with fewer elements to break.

You can learn to swing trade in a week or so and it will take you less than 30 minutes to apply. It's fun, exciting and can and does make big profits - try swing trading and you maybe glad you did.

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AP - The formula for a financially successful retirement used to be straightforward: Work for decades for one employer and then live happily ever after on the pension, Social Security and whatever personal savings you were able to amass.

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Monday, February 23, 2009

Forex Market Analysis

I'm going to take the time to talk to you about forex market analysis. There is a lot of money to be made in this market which is pretty evident by the fact that there are three trillion dollars moving around each day. This obviously attracts new people to this market looking for a quick buck. The problem is that the market isn't nice to new people. These people end up losing their money pretty quickly because they didn't sit down and learn the basics of trading in this market. I'm going to share with you a little of what I've learned during my time which should help you out.

You're going to have a chance to do trading at anytime you want. It's a global market, so there is trading to be done at anytime of the day. The problem is that it isn't always profitable at all times. There are times where the market is very chaotic and erratic, which makes it an extremely poor time to do your trading. You typically have the peak hour, which is the busy times and off peak hours, which is the slower times. Surprisingly it is the slower times that are chaotic because there isn't enough volume to have a stable supply and demand. Stick with peak hours for trading.

Having the proper tools to get the job done is an important part of forex market analysis. I use the 10 Minute Forex Wealth Builder because it is an automated software tool that is designed to do analysis all day long. It can turn out to be a very valuable and profitable tool for all traders out there.

Learn more about the 10 Minute Forex Wealth Builder.

Reuters - There was a time when a tumble below $10 in the share price of a company in the Dow Jones industrial average (.DJI) meant ignominy.

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Friday, February 20, 2009

Forex Trading Systems - Using Computers for Profit

Today the computer you have on your desk is much more powerful than Mission Control Houston that helped man land on the moon. Powerful computers have changed our lives for the better and here we will look at their affect in forex trading and the application of forex trading systems by traders for profit.

So how useful are computers in forex trading?

The role of computers is very often misunderstood by forex traders.

Computers have enhanced our lives in many areas and help us solve complicated problems there is the belief forex trading systems can be created to trade forex markets automatically.

There are a number of forex trading systems for sale that promise to do just that - and most of them fail.

There are two reasons for this failure:

1. The System is to Complicated

Its tempting to make a system complicated and many traders do they figure the more elements it contains the better its chances of success however the complete reverse is true.

The more rules and parameters you cram into a trading system the more elements there are to break in the brutal ever changing markets - it's a fact simple systems work best as they are more robust and this has always been so.

2. Curve fitting

Many systems that fail in real time trading actually work in hindsight when their tested on data and the reason for this is curve fitting. Curve fitting is simply bending the rules of the trading system to fit the data. When the first rules don't work the trader simply bends them until they do. This is a bit like shooting at door with a shotgun and then after the event, drawing a chalk circle around each one to make it a bulls-eye!

Keep in mind that any segment of data is going to be different as the markets are not scientific in terms of their movement so the appliance of science is of limited use.

The above mistakes are often made in tandem and complexity or trying to be clever testing data and bending a system won't help you make money.

Here is another startling fact:

50 years ago 95% of traders lost and today the ratio remains the same - this is despite all the advances in computers forecasting and market data retrieval. It's pretty clear that the application of computers has made no real difference to the success of traders.

Many traders think the application of science and computers can help in all areas of life and in many they can but in forex markets this is not so.

Computers make your life easier but they cannot be relied upon to give you success.

Just as in the past a simple system will beat a complicated one and that is never going to change as forex is a game of odds not certainties.

Yes computers are helpful but the real key to trading is finding a simple forex trading system, understanding it and applying it with discipline.

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A man walks past a Citibank branch downtown Washington, February 20, 2009. (Yuri Gripas/Reuters)Reuters - Bears could have the upper hand again next week if Wall Street fails to get assurance that major banks can be rescued without being seized by the U.S. government.

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Sunday, February 15, 2009

I Was Once New to Forex Trading Online Too!

So you're new to Forex Trading online?

Chances are you're here because you need to make money. This could be brought about by a desperate need to pay the bills, a desire to find a new line of work or perhaps for a fortunate few, "play" around in an investment medium.

Most newcomers to trading start out with one (or both) of the first two needs, I did too! The internet marketing community understands this which is why you'll find so many programmes, search links and products online. Several sources offer Forex Trading tips and the promise of making loads of money quickly. Start trading in 15 minutes some say! How can you pass up such an opportunity when you're desperate?

If you've spent a little time looking into trading online, you've no doubt run the "forex trading scam" search and found many warning signs out there! Can you ignore the advice that if it sounds too good to be true, it usually is? Well I'd like to answer some of these questions for you:

  • Yes lots of money can be made through Forex Trading online. Trillions of dollars are traded across the globe, every day. Trades can be made in seconds and you can be part of it.
  • Yes you can trade within a few minutes, as some platforms offer quick and easy start up processes. Other more established dealers require a more detailed approach and contractual documentation needs to be submitted.
  • Yes, if it sounds too good to be true it usually is! This rule also applies to Forex trading. Whilst money can be made, and lots of it, it simply is not as easy as it sounds. There is substantial risk involved but this is has always been the case for high return investments.
There's a thrill to risk and danger in a fast paced environment. Forex trading online offers you all of this and can therefore become almost addictive. But you need a clear mind before entering this space. You need to take time to understand the market and the tools used by traders, which from my experience, makes this activity less suited to the desperate.

You see, I was desperate once too! I needed to make money quickly and did not therefore have time to study the business extensively. Quick gains came my way but not in the form of cash! My gains were in education and learning. Yes, I learnt that if you do not respect the industry and think that anyone can just walk in and make money, you're lucky if you come out ahead!

I was forced to step out and make my desperately needed cash in Internet Marketing first. Once I was settled and my desperation removed, I managed to get back to Forex Trading with great financial success.

There are many valuable tools and Forex Trading online information available. My advice to those of you, who are new, is to take the time to learn and remember that nothing comes easy! You've got to do the time!

Reuters - Merrill Lynch is shifting a majority of its contracts from troubled Indian software firm Satyam Computer Services Ltd to rival Tata Consultancy Services , the Economic Times reported on Monday.

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Thursday, February 12, 2009

Forex Trading - An Introduction Into A World Wide Market

It is crucial to be aware of specific issues happening in the world, particularly if they have the potential to offer benefits, such as Forex trading. Essentially, the Forex market is a non-stop cash market where currencies of various nations are traded. It is somewhat similar to a stock market, with Forex trading these foreign currencies are continually being bought and sold throughout both local and global markets.

There are numerous rewards that are extended to private and potential investors within Forex trading, including a giant liquid market making it simple to trade the majority of currencies, volatile markets offering numerous profit opportunities, the capability to profit from both rising and falling markets, and leveraged trading with low margin requirements.

The Details

When it comes to Forex trading, one of the most significant things to bear in mind is what the basic investor's goal is here. Simply speaking, the goal is to make a profit from movements in foreign currency. When trading currencies it is crucial that an investor only make trades when they have an expectation the currency that they are purchasing to increase in value relative to the currency that they will be selling, otherwise there no gain will result.

The exchange rates are continually fluctuating in Forex trading and it is important for all investors to remain on top of these types of changes and be mindful of them. There are numerous resources that are available to help in this regard, both on the internet as well as off, and any of these will really work well provided that they are continually being updated and not just once a day.

The Differences

There are numerous important differences when comparing Forex trading and other stock market trading. Firstly, unlike the trading of basic stocks, futures or options, this kind of currency trading does not happen on a regulated exchange. It is not regulated by any governing body and so there is a great deal more freedom with this specific kind of trading.

Forex is the biggest financial market throughout the world and the retail Forex market is strictly a speculative market and investors need to be mindful of this. There are no physical exchanges of currencies actually ever taking place, but instead all trades that are placed here exist merely as entries in a computer and are then netted out dependant upon the market price.

Forex is decidedly a market worth looking into, though it is crucial that any possible investor first be trained and aware on what it necessitates and what is expected of them here. Otherwise significant loss will in all likelihood result.

Listen to Korbin Newlyn as he shares his insights as an expert author and an avid writer in the field of finance and investment. If you would like to learn more go to Forex Quote advice and at Forex Trading System tips.

A foreclosure sign sits on top of a sale placard outside a home on the market in the south Denver suburb of Littleton, Colo., on Tuesday, Dec. 23, 2008. To those on the front lines of the housing crisis, the Obama administration's plan to spend $50 billion to combat foreclosures was a welcome change in the government's approach. But the plan won't be unveiled for at least a week and might not be enough to prevent the housing market's troubles from mushrooming further. (AP Photo/David Zalubowski)AP - Rates on 30-year-fixed mortgages fell this week, offering homeowners a chance to refinance their loans, Freddie Mac said Thursday.

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Monday, February 9, 2009

Trading Advice For Motivated Forex Traders

I'm here to give advice to help all the motivated forex traders out there that are probably not doing as good as they deserve to be. I hope this advice should help you out and it should be applied as daily tasks.

What is the most important thing I should do?

Besides constantly learning, you need to develop a routine. A routine is the most profitable thing you can do because it becomes tasks you do that require no thought on your part. You just "do it". Like brushing your teeth for example. That is a routine. You don't think about it. You just go and do it. It doesn't matter if you had a rough day at work or you're tired, you do it. Same thing applies here.

Routines don't consume your mental energy. Your mental energy needs to be conserved as much as possible because this is energy that ends up tiring you out and making you lazy. Each day should be mainly routine. You shouldn't have to wake up and figure out what you need to do. That expends energy. When you finally get that routine going, you'll start making money. The great thing about it is that you still have that mental energy and you can use it to tweak your routine to be more profitable.

What is the best tool I should have?

You definitely need to get your hands on an automated software like Forex Killer. The reason is simple, you're just one person. The days are long in forex and like most people, you probably won't feel comfortable leaving thousands of dollars in the market while you're not watching. With Forex Killer you can set in variables that force it to sell if you experience so much of a loss. You can also set it to sell once you meet a specific profit. It's a great tool, especially when you still have your day job.

For more information on the Forex Killer software, check out Forex Charting Software.

A trader works on the floor of the New York Stock Exchange, February 2, 2009. (Brendan McDermid/Reuters)Reuters - More than 1,000 U.S. banks, or one in eight lenders, may fail in the next three to five years as commercial loan losses rise, compounding problems from record mortgage delinquencies and soaring home equity loan defaults, RBC Capital Markets said on Monday.

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Friday, February 6, 2009

Forex Day Trading and Scalping Systems - A Great Way to Wipe Your Trading Account Quickly

I see day traders and forex scalpers selling trading systems online claiming profits but look at the track record closely and you will see, there not real at all - In fact they have never been traded and the profits are paper ones - they all have this disclaimer on them....

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

Umm, so they all have the above on which means, they have never been traded in the brutal hard world of forex trading and of course, trading without knowing the prices ( rather than simulating backwards knowing them) is the real world of trading and much harder.

Day trading doesn't work however marketing organizations create great copy to sell the concept and the nave or lazy trader, thinks he is going to make a regular income, with 90% accuracy etc.

He sits back with a cold beer and thinks he will never have to work hard again, of course he gets rewarded but - with an equity wipe out.

When I was a broker, we loved day traders - why?

As you probably know most brokers take the other side of the trade, so they win when the client losses.

No day trader EVER won when I was there and I saw maybe 20,000 client accounts. Also, the other myth is forex brokers hunt day traders stop - nope. They don't need to bother, the day trader always has his stop within normal random volatility so the market takes him out, the broker doesn't need to help.

So why doesn't day trading work?

Think about the huge mass of people who trade each day and they all have different skills, trading systems, and aims and to think, you can work out what this diverse group, of emotional beings is going to do, in a few hours is futile and dommed to failure.

All volatility is random in daily time frames so how on earth can you get the odds on your side?

You cant - so don't attempt it.

If you want to win at forex trading, learn how to trade longer term and you will find the data helps you calculate the odds and gives you a chance to win and win big gains.

If you want to win at forex trading, you need to trade the odds - so forget day trading and scalping, trade longer term and enjoy currency trading success.

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Visitors walk past computer screens showing stock index at the Korea Stock Exchange in Seoul. Asian and European stock markets have risen as investors shrugged off gloomy company results to concentrate on overnight Wall Street gains and a huge US economic stimulus plan.(AFP/Jung Yeon-Je)AFP - Asian and European stock markets rose Friday as investors shrugged off gloomy company results to concentrate on overnight Wall Street gains and a huge US economic stimulus plan, traders said.

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Thursday, February 5, 2009

Forex Day Trading- Two Step Trend Analysis

If you approach forex day trading by just looking at the 5 minute and 15 minute charts there is a strong possibility your account will evaporate sooner rather than later.

In order to get a feel for the market and an indication of the current trend it is necessary to do an analysis by looking at multiple charts on different time frames starting with higher level charts first.

Rather than having the charts cluttered with numerous indicators and signals which can cause signal paralysis, I recommend just two:

1. MACD (with default settings)

2. 200 EMA (Exponential Moving Average)

Now examine your charts using a top down approach:

  • Daily
  • 4 Hour
  • 1 Hour

As you check each chart take note of these two factors:

  1. Has MACD crossed down or up and is it above or below the water line?
  2. Is price above or below the 200 EMA?

While it is not crucial to have them all lined up on these three time frames for successful forex day trading, if you want to be a cautious trader and go for high probability trades then certainly MACD on the 4 hour chart and 1 hour chart should be in agreement as also should price in relation to the 200 EMA.

The daily chart can be useful in seeing the larger picture and for noting key levels of support and resistance. They stand out on a daily chart so if price is within 100 pips of a crucial level of support or resistance as seen on the daily chart, make a note of the figure.

Then scale down to the lower time frames and see if this level matches with other indicators such as pivot points or Fibonacci levels.

Once you have done this groundwork, NOW you can look at the 15 minute and 5 minute charts for a suitable entry point.

Remember, for successful Forex day trading you need to adhere to the No. 1 commandment: Buy The Dips and Sell the Rallies!

So avoid chasing the market and going with the flow. Instead, wait for price to come the level you want, set your entry order, and let price pull you into the trade.

The Danger With Lower Time Frames

Just concentrating on the 15 minute and 5 minute charts will not give you the bigger picture. You could see what looks like a perfectly good trade and set your stops and limits only to find you get blown out within a few minutes.

By looking at the higher time frame you would probably have seen you were close to a key support or resistance level and either not gone into the trade or adjusted your stops and limits accordingly.

For the novice, Forex day trading can involve a huge learning curve. Include this simple daily top down analysis approach to your trading and protect yourself against making trades you wish you didn't!

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A newly sold home at a new housing subdivision is seen in San Marcos, California in this August 20, 2007 file photo. U.S. mortgage rates jumped to their highest levels since December in the latest week, complicating government efforts to bring mortgage rates down to levels that will spur demand and help the hard-hit housing market begin to recover. (Mike Blake/Reuters)Reuters - U.S. mortgage rates jumped to their highest levels since December in the latest week, complicating government efforts to bring mortgage rates down to levels that will spur demand and help the hard-hit housing market begin to recover.

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Monday, February 2, 2009

Currency Trading Charts - Traders Advice

Currency trading charts display the current and previous exchange rate for each currency. The real trick is knowing when to make an educated decisions on when to close a transaction in the foreign exchange market.

New technology has led to currency trading 'robots', which process all the vital information within the foreign exchange market. Detailed figures are stored and displayed as a currency trading chart. The 'robots' make mathematical predictions on any changes in the market.

Recently, software advancements allow these programs to enter and exit deals, with complete automation. Now you can trade currency while you sleep. With a simple PC and an internet connection, you can setup a business that requires very little maintenance.

Any software that produces accurate trading charts and predictions can be a vital resource for any home currency trading business. It's not going to be perfect for everyone; many professional traders do not rely completely on software 'robots', but it can be a large part of their organization.

Are you not completely confident in trading currency yet? Neither was I when I first started as a trader. If you're a beginner you can get a real benefit from currency trading software. Demo trade accounts allow you to trade with 'fake' money, as if it was your own personal investment.

When those figures start to rise, your confidence starts to build, a real campaign might now be an option. The majority of forex software is covered with a 60-day guarantee, this home business strategy is low risk and now possible for absolutely anyone.

Look how millionaires use forex software to run a business with low maintenance - Click Here!

A trader works on the floor of the New York Stock Exchange, February 2, 2009. (Brendan McDermid/Reuters)Reuters - The Dow Jones and S&P 500 indexes ended lower on Monday as uncertainty about the Obama administration's plan to stem bank losses hit financial shares and a bleak outlook by Macy's fueled worries the U.S. recession is worsening.

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Wednesday, January 28, 2009

Day Trading - Trade, Don't Gamble

There is one thing in common among winners and losers in any gambling game- they will continue to gamble regardless of what happens. And what are the commonalities between gambling and day trading? Simple, there are losers and winners, most of them are gamblers.

Despite the fact that gambling and trading are two very different things; many traders seem to behave as gamblers instead of day traders. In gambling the winner would like to believe that he has an unstoppable streak of good luck and will try to ride his momentum until he gives all his winnings back to the casino. The loser, on the other hand, will try to get out of their bad luck by risking all his money in belief that he will be able to win back all the money he's lost. In trading unsuccessful traders work in this manner.

True trading is not like gambling though. Unfortunately, most traders who have not reached maturity tend to act in this manner and over trade for the same objective as a gambler.

Theoretically, day traders should be able to get over the practices of a gambler. He must try to evolve from this point until he becomes a strategist. This can only be achieved though through developing the necessary skills, the discriminatory attitude and the realization that the market moves in a certain way and this way should be discovered.

There are no secrets to day trading though. Everyone should realize that the behavior of the market is a bit predictable by using indicators and patterns which have existed before. Everyone should also recognize the truth that the market works in a psychological way and one must only develop keenness to this reality. Also, everyone should acknowledge that skills take time to develop and once they start to build-up, the trader will also start to become more efficient in the trade.

Over-trading does not work in this business. Those who practice this technique either have no sufficient knowledge in this field or have not out grown the common attitudes of the amateurs which depend highly on their priorities.

The most common reasons why amateurs over trade are a) they trade to confirm that they are good and that their system works, b) they are stretching their limits to prove that they can make profits whenever possible, c) they try to get off with the emotional burden especially when they are losing their trade by selling or re-entering the market if the signs are good enough for them, and d) just like the gambler they only want to take advantage of their luck to win back their losses.

Miodrag Trajkovic is an expert on information related to Day Trading, Day Trading Mistakes, Day Trading Strategies, Online Day Trading and Day Trading Systems. For more information visit his website http://daytrading.explore-me.com

AP - Pennsylvania has joined a settlement with Countrywide Financial Corp. that makes available as much as $155 million to help keep thousands of state residents in their homes.

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Friday, January 23, 2009

Forex Trading Guide For Beginners

This is my official forex trading guide for beginners. I want to help all the new people to this business become better and more profitable traders. It really isn't that difficult to learn, you just need to remain open minded and not over complicate things in your head.

The first piece of a advice you need to take to heart is controlling your emotions. We as humans are emotional. It's part of our instinct that are designed to help us survive, but this is forex trading. Emotion in this business is detrimental to your wellbeing. Your emotions can leave your bank account empty if you're not smart about it. All the gut feelings you have, no matter how right they feel, need to be ignored. You need to turn from an emotional creature into one of logic. The only moves you make are the ones where you crunch the numbers and they look good.

The next thing you need to understand is about the concept of a "good buy". As consumers, we're always looking for a good buy. You have to remember we are in the business of trading. It's not the buying price that counts, it's the exit price that counts. It doesn't matter how cheap a currency is if there is no foreseeable exit. Why buy if you can't sell for more later? There is no reason. Understanding and identify where a currency will exit is how to bargain shop.

Lastly, you should get software like Forex Killer since it is a pivotal tool for all traders. It can help automate your trades, so you don't have to sit in front of the computer watching currency graphs all day. You can free up your time for doing more profitable things.

For more information on the Forex Killer software, check out Forex Charting Software.

Jeffrey R. Immelt, chairman and chief executive of General Electric leads a discussion with business leaders at an Ecomagination news conference at Universal Studios in Los Angeles, California May 24, 2007. (Fred Prouser/Reuters)Reuters - General Electric Co reported a 44 percent drop in quarterly profit on weakness at GE Capital and its lighting and appliance units, and warned that 2009 would be "extremely difficult."

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Friday, January 16, 2009

Forex Raptor Has NEVER Had A Single Losing Month So Far

Forex trading has a great popularity that has been increasing in recent years due to its great qualities as one of the leading capital markets in the world. This is a market you can trade day or night, from anywhere in the world and you just need a few bucks to get started. But the most important thing once you have decided to enter the Forex Market is how profitable you are. The most profitable the closer you will be to be free from the nine-to-five race that most have to face every day.

As it was mentioned before, it's common knowledge that Trading Forex is a great way to make money online but before you start earning those precious "pips" you will need a plan and a good trading system that will put you into the money. Entering the forex market without a plan is like inviting troubles to knock at your doors and the possibilities that you lose money trading will be awfully high.

So now you know you need a plan and a system, but what system? Here what I can say is that the more mechanical the system the better for you the trader. You need to eliminate the psychological factor from your trading and of course you need a system that "knows" how the forex market behaves. This is what the "Forex Raptor" does. With this great system you won't need a continuous monitoring of the charts, this means you can forget about watching the charts for hours a day. Simply install this software and it will identify the good trades for you.

It is worth mentioning that practically all the traders that start using the system will start trading the same day they installed it in their hard drives, even those with no prior experience.

With the Forex Raptor you won't need to buy a $5000 high ticket Forex seminar, all you need to know is here...

You can have direct access to the Forex Raptor at my new blog:

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A Yahoo! sign is seen in New York's Times Square, November 18, 2008. (Brendan McDermid/Reuters)Reuters - Microsoft Corp Chief Executive Steve Ballmer and Yahoo Inc Chairman Roy Bostock met in New York this week, according to media reports.

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Sunday, January 11, 2009

The Economy May Be Down - But Forex Trading is Hot!

The economy is doing bad right now. The stock market isn't going strong and gas prices are through the roof, but there are still areas that have untapped potential to make you money. One of those areas is the forex market and it is hotter then ever. If you have been looking for some type of financial relief in these tough times, the forex market is your answer.

As I mentioned earlier, times are hard for many people and they are trying to find ways to make life more easier for themselves. Many times any extra income can be the difference between living comfortably and having to work harder to make ends meat. Did you know that you can be trading forex from the comfort of your own home and bringing in more money then you do at your day job?

This is not a stretch of the imagination, it is actually possible. You can actually do forex trading on complete autopilot with the help of an expert advisor. A forex expert advisor is a robot that you run that will buy and sell for you automatically. It is programmed to make you profits and will not make any errors otherwise. In case you were wondering, you don't have to be a forex expert to run one of these forex robots. They are quite easy to install and people are normally up and running in 5 minutes.

So if you are looking for a extra few bucks to help you get by in these tough times, give forex trading a try. You can practice for free before getting real money involved. Once you are comfortable let the forex robot do all the work for you and watch your money multiply on it's own!

Looking for the best forex trading robot? Look no further: The-Forex-Tracer.com

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Friday, January 9, 2009

Using Currency Trading Software As a Tool to Increase Profits

If you're in the Forex trading market, one of the things that can take your training to the next level is currency trading software. The software works similar to the way a signal provider did in the past, but it can be timelier and can give you much quicker and more in-sync information. In addition, it can be better and more accurate than signal providers, since data provided by signal providers can be uneven depending on who you get it from.

For this reason, this type of software can be a good alternative to a signal provider. Good software can help you base your trades on accurate information it's conveniently provided for you in easy to read format. That said, it should be noted that you are still going to have to do your own homework and learn the ins and outs of the Forex trading market, whether you use software or not.

To do this, set up demo account with the Forex broker you choose and learn about different types of analysis, both technical and fundamental analysis. Technical analysis focuses on how a particular currency is doing in terms of its past history, and therefore how it is likely to continue to perform for at least the short term. Fundamental analysis looks at a particular currency self based upon its country's own economic, political and social stability and health.

When you trade in Forex, you are betting that one particular currency in a pair you choose is going to do better than another. The way you determine which pair to choose and which currency will do better is by performing the previous types of analysis and by looking at all of the data presented to you.

As you do this, of course, you can use currency trading software to help watch and manage data for your trades. Again, software can be a good "crutch" to help you manage your trades properly, but you're still going to have to know your own data well enough and trust your own gut instinct enough to make informed decisions. You should never depend on your software to the point where you don't analyze and follow your own instincts yourself. The software is only meant as a tool to help you decide what should be done on a particular trade.

If you do decide to use currency trading software, do so right from the beginning, when you first set up your demo account. This will help you become familiar with it so that you have it right with you when you begin to do trades in earnest. You can try out a couple of different types of software before you decide on the one they think is right for you. There are a couple of different brands that come highly recommended, with three of the most popular ones reviewed at our web site.

Can you make a lot of money in the Forex market? The answer is yes, you can, with a caveat. You have to know what you're doing and you have to have the emotional and psychological stability to be able to handle trades dispassionately, buying and selling based upon what your data rather than your emotions tell you. That means that you have to be able to get out of a trade that is still doing well if your data tells you that this should happen, and you have to be to get out of the trade that's doing poorly without worrying about whether or not you can make your money back. The best Forex brokers do lose on trades sometimes, but they know when to get in, when to hold, and when to get out. And while some people do trade in Forex full-time, many others simply trade on the side for a little extra money, and for fun.

Again, currency trading software can help you manage your data such that it's available to you all in one place and easily discernible; this can help you figure out what to do more quickly than you might otherwise be able to. However, remember that it's only a tool and your own best judgment is still what's going to make or break your success as a Forex trader.

For more insights and additional information about how to maximize the usage of Currency Trading Software as well as seeing a review of the three leading currency trading software programs, please visit our web site at http://www.forexcurrencysystems.com

In this file photo traffic is seen on Tropicana Avenue in Las Vegas, Nevada, in front of the MGM Grand, June 15, 2004. (Ethan Miller/Reuters)Reuters - MGM Mirage said on Friday it would write down the value of the Mandalay Resort Group, the casino company it bought in 2005 for about $5 billion.

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Thursday, January 8, 2009

Starters Guide To Forex Trading

Having a proper starters guide to forex trading can help you out since this can be a business where your money can disappear quickly if you don't watch it.

What are demo accounts?

These are just accounts on your trading platform that allow you to do trades that aren't real. It's basically a simulator of the forex trading experience. As a beginner, this is probably your best tool. The first thing it does is allow you to learn the trading platform. You get to learn what all the buttons do and make mistakes, without having to worry. You also get to test your skills on currencies graphs, to see if you can make any money. When you're confident from using the demo account, you can move onto doing trades with your own money.

What is margin trading?

If you've been looking at brokers, you've probably noticed margin trading and it probably confused you. The idea is that you put in a deposit and you get to leverage the brokers money in trades. Depending on the account, you can get 100 times the amount you put in as a deposit. For example, at 100 times, if you put in $1000, you could trade $100,000.

I know that sounds too good to be true, but the broker will protect them self. If you start losing anywhere near your original deposit, your broker will cut you off and exit the trades, so they don't end up losing money. The extra money that you trade with allow you to make more money per trade, so that's why it is useful. When starting out, go slow with these types of accounts. Only use 15-20% of what is available. This way you get leverage, but you don't have a huge risk of losing more than your deposit.

These are great ways to learn forex trading online. I'm currently giving a 7 day free forex training course. Newbies and experienced are all welcome. If you're interested in participating, check out the Casual Forex Trader.

The Palm website is seen on the Palm Pre smartphone at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada January 8, 2009. Palm Inc took the wraps off its overhauled mobile operating system and introduced the Pre touch-screen phone, hoping the move can help it win back customers from rivals like Nokia and Apple. Shares of Palm jumped more than 15 percent to $3.80 on the news. (Rick Wilking/Reuters)Reuters - Palm Inc overhauled its mobile operating system and introduced a new touch-screen phone, sending its shares soaring 35 percent as investors hoped the moves can help win back customers from rivals such as Apple Inc .

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Monday, January 5, 2009

Day Trading Stocks

Most of the people believe that day trading and gambling are the same thing. But very few actually know the difference. Can you forecast the kind of cards youll receive while playing black jack? No. you cant. But, in day trading, the moves of market are anticipated in advance. So how the two are same? It is important to understand that there are calculated and well thought risks that are bared unlike the instincts working in any of the gambling games.

In literal terms, day trading refers to the buying and selling of stocks in the same trading day before stock market is closed. The other name for day trading is intra-day trading and the traders who practice day trading is known as day traders.

As such, day trading is not a childs play. It involves great amount of brains to be utilized to earn better returns. The procedure to enter into the world of day trading, however, is quiet simple. The online trading facility has made it easy for any person to access stocks and trade in stocks. Presence of online brokers and brokerage firms further facilitates stock trading.

Choosing from many options available among stockbrokers tend to open a trading account and thus can start with your day trading venture. However, it should be noted that these brokers work for the commission that you have to pay with each transaction, thus, lower the commission, better for the trader.

Well, it is pointless to say that trading in stocks is quiet risky as all of us are aware of this fact. But, a thorough research work, intelligent broker and some techniques can get you through this risk sail with positive returns. Here are few guidelines that are to be followed for better results in day trading.

  1. Trading in right direction: it is the first step for success in day trading world. Always buy when market is going up and sell when market is going down. However, exceptions are always entailed due to individual performances of companys shares in the stock market . Many a times a company share may fall in spite of the growth in the market. Hence, it is advisable to sell that kind of share unless a boom is expected in that particular venture.

  2. Decide upon your sense levels: it involves deciding upon the amounts of your share prices. To avoid bankruptcy it is the best option to opt for. Sometimes, getting emotional or hoping to get the conditions better worsen the situations. For example, a lot of 100 shares at the rate $50 per share is purchased. It may go up to $56 per share and starts falling. You should develop your own rates at which you would like to sell this share in the market say $52 else you may incur loss by selling at 45$, in hope of the improvement in this share. Hence, deciding in advance about the prices to be sold tends you to be on a safer side.

  3. Integrate your investments: always divide your investments into groups of equity Midcap and largecap. Your portfolio must be strong enough to have a combination of various investments. Integration of investments avoids you from heavy losses.

  4. Invest your savings and save your investments: it is necessary to maintain a pre-decided level of initial investment. Do not trade with all the profits you make. Learn to trade with proportions that help to avoid making losses and bankruptcy.

  5. Be an above average trader: being consistent and playing safe tends to raise the level above average. Dont get disheartened in case of losses. Take it as a part of game. Learn from every failure. However, the case should not be so that a day trader learn and learn and get bankrupt by the time he is ready to exploit his knowledge.

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U.S. President-elect Barack Obama speaks at a news conference in Chicago, where he introduced his economic team, in this December 18, 2008 file photo. (Jeff Haynes/Files/Reuters)Reuters - Cautious New Year optimism rippled through Asian and European stock markets on Monday as investors waited for news of tax cutting plans in Germany and the United States.

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