By Scott T Walker
Currency trading can get interesting once you understand the various forex trading strategies that enable you to profit from this market. Though these strategies may differ in effectiveness depending on individual goals and investor personalities and thus may vary from person to person, there are some that can be used by anyone eager to increase his or her profitability. If you are interested to make money from the lucrative foreign exchange market, here are some effective forex trading strategies that may come handy:
Breakout Trading
This is touted as the one of the most effective and profitable forex trading strategies and its simplicity has made it very popular. If you participate in this kind of trade, you have to monitor the charts and note the breakouts. Trading break outs will not require any kind of prediction. However, as in other strategies, all break outs may not be equally rewarding. Therefore patience is required and it is absolutely justified if you wait for the right breaks.
Carry Trade
This is another of the more lucrative and talked about forex trading strategies. Carry trade is a concept by which you will simply use or carry the changes in the interest rates of two different currencies for better gain in the future. You will have to analyze and check the exact benefit that a possible change in the exchange rate of currencies can bring you. Many traders prefer a currency that has the chance of gaining a higher interest rate. Calculating the interest rate differential of currencies is also important while choosing a specific currency.
Forex News Trading
While strategizing your forex trade, you may also like to put enough emphasis on the trading of news that may influence the market. However, before trading the news, you would do better to understand whether their impact would be long term or short term. Forex news traders normally place their trades just before or after important news has been released, thus taking advantage of the reaction to these news.
It is important for you to do your homework in choosing forex trading strategies based on your objectives and personality. Remember that not all strategies suit all personalities. For example, if you dislike looking at charts, you might want to consider forex news trading compared to breakout trading. Also, it's important to keep your choices open and not follow a certain technique too religiously. Forex trading strategies can change over time and should be altered if necessary.
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Article Source: http://EzineArticles.com
Thursday, July 15, 2010
Tuesday, July 13, 2010
The Best Forex Trading Robot
By Hugh Thornburg
Forex trading robots, as their name describes, are software scripts designed to trade the forex markets on your behalf. These are also known as "expert advisor" scripts, and are now extremely popular on the Internet. If you're looking to use one of these robots to help you make more money from forex, or even to help you start out in this lucrative trade, then it's important you're able to use the "best" robot out there.
There are a lot of forex trading robots which claim to be profitable & effective, but the fact is that precious few will actually make you any money. Like many "make money" opportunities, forex trading is rife with snakeoil salesmen & scammers, all looking for a quick buck. Thankfully, there are certain ways to see if a forex robot is actually going to work for you... but it's always good to know what to look for in the best one. The best forex robot is simply the script that's able to identify the largest number of profitable trades, in the most consistent manor.
Forex robots are actually designed around a certain "system" or "strategy" that should profit. We've found that all the best forex robots are designed by successful traders, who put their own profitable strategy (that they spent many years & $1,000's testing), into the system. The robot will then use this strategy to identify any profitable trades that are available, "advising" you on what action you should take.
The best forex robots are obviously the ones which make you money. However, there's another hidden element behind the "automated profit" that you need to take into consideration. We've found that all the best robots come with a myriad of support documentation & communities, which add just as much value to the package than the robot script itself. The level of support that lies behind the program is actually one of the greatest factors you should look for - as it not only allows you to network with successful traders, but will also give you the ability to see how the robot works in its entirety.
Click Here For ProForexRobot !
We've tested a lot of forex trading robots, but have one called "FAP Turbo" is the best. This is a very popular robot, which has been designed by a multi-millionaire trader called "Marcus Leary". Leary is known throughout the forex trading world as being a "founding father" of the "forex robot" industry, and his latest creation, FAP Turbo is simply helping many more traders to make the most profit. We tested this on a demo account, and found it made $30,000 in 90 days without any intervention from us. This kind of success has also been duplicated around the Internet, with 100's of YouTube videos showing similar results.
From our experience, the [http://www.forextradingtricks.com]best forex trading robot is one called [http://www.forextradingtricks.com/fapturbo_review.html]FAP Turbo
Article Source: http://EzineArticles.com
Forex trading robots, as their name describes, are software scripts designed to trade the forex markets on your behalf. These are also known as "expert advisor" scripts, and are now extremely popular on the Internet. If you're looking to use one of these robots to help you make more money from forex, or even to help you start out in this lucrative trade, then it's important you're able to use the "best" robot out there.
There are a lot of forex trading robots which claim to be profitable & effective, but the fact is that precious few will actually make you any money. Like many "make money" opportunities, forex trading is rife with snakeoil salesmen & scammers, all looking for a quick buck. Thankfully, there are certain ways to see if a forex robot is actually going to work for you... but it's always good to know what to look for in the best one. The best forex robot is simply the script that's able to identify the largest number of profitable trades, in the most consistent manor.
Forex robots are actually designed around a certain "system" or "strategy" that should profit. We've found that all the best forex robots are designed by successful traders, who put their own profitable strategy (that they spent many years & $1,000's testing), into the system. The robot will then use this strategy to identify any profitable trades that are available, "advising" you on what action you should take.
The best forex robots are obviously the ones which make you money. However, there's another hidden element behind the "automated profit" that you need to take into consideration. We've found that all the best robots come with a myriad of support documentation & communities, which add just as much value to the package than the robot script itself. The level of support that lies behind the program is actually one of the greatest factors you should look for - as it not only allows you to network with successful traders, but will also give you the ability to see how the robot works in its entirety.
Click Here For ProForexRobot !
We've tested a lot of forex trading robots, but have one called "FAP Turbo" is the best. This is a very popular robot, which has been designed by a multi-millionaire trader called "Marcus Leary". Leary is known throughout the forex trading world as being a "founding father" of the "forex robot" industry, and his latest creation, FAP Turbo is simply helping many more traders to make the most profit. We tested this on a demo account, and found it made $30,000 in 90 days without any intervention from us. This kind of success has also been duplicated around the Internet, with 100's of YouTube videos showing similar results.
From our experience, the [http://www.forextradingtricks.com]best forex trading robot is one called [http://www.forextradingtricks.com/fapturbo_review.html]FAP Turbo
Article Source: http://EzineArticles.com
Friday, July 9, 2010
3 Tips For Currency Trading Success
By Frank D. Miller
Currency trading is a fantastic way to invest your money or earn an income from home. A growing number of people are using this form of exchange to make money and invest their cash with lower risk involved than other volatile markets. The advantage of trading currencies through markets like Forex is you get access to the market 24 hours a day and can monitor your progress and stats in real time.
The basic symbols of trading currencies are simple, for example, USD = United States dollars, GBP = Great Britain pound and so forth. There are symbols for every country and they're often shown in comparison to one another, for example: USD/EUR = $1.09. Here are a few solid tips to help make your trading in currencies a success.
Tip #1 - Make sure you identify your financial goals for trading in currencies. Do you have a daily or yearly goal you hope to achieve? Write it down and focus on achieving it. If you're brand new to trading in Forex and currencies then don't be overly ambitious and stay realistic, but don't be afraid to go outside of your comfort zone a bit either.
Tip #2 - Educate yourself as much as possible on how the markets work. There is a relatively large learning curve for Forex and currency trading so knowing the ins and outs is vital to being successful. Don't go in over your head before you get a chance to learn the basics and even some intermediate level strategies. This will save you a lot of headache and stress in the long run.
Tip #3 - Make a commitment to becoming profitable. Trading in currencies isn't for the timid or weak hearted and if you don't have the commitment to stick with it until you're successful you'll get trampled. Since trading in Forex markets for a gain is a competitive and often frustrating experience at first many people just give up. If you do this you'll fail and never become profitable but if you refuse to give up you can only succeed.
If you plan on sticking with currency trading and being successful then it's suggested you take advantage of some of the online courses and software programs that can help make it a lot easier by relieving repetitive and manual tasks. These can help supplement your efforts in trading currencies and bring you success faster with less stress and frustration.
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Article Source: http://EzineArticles.com
Currency trading is a fantastic way to invest your money or earn an income from home. A growing number of people are using this form of exchange to make money and invest their cash with lower risk involved than other volatile markets. The advantage of trading currencies through markets like Forex is you get access to the market 24 hours a day and can monitor your progress and stats in real time.
The basic symbols of trading currencies are simple, for example, USD = United States dollars, GBP = Great Britain pound and so forth. There are symbols for every country and they're often shown in comparison to one another, for example: USD/EUR = $1.09. Here are a few solid tips to help make your trading in currencies a success.
Tip #1 - Make sure you identify your financial goals for trading in currencies. Do you have a daily or yearly goal you hope to achieve? Write it down and focus on achieving it. If you're brand new to trading in Forex and currencies then don't be overly ambitious and stay realistic, but don't be afraid to go outside of your comfort zone a bit either.
Tip #2 - Educate yourself as much as possible on how the markets work. There is a relatively large learning curve for Forex and currency trading so knowing the ins and outs is vital to being successful. Don't go in over your head before you get a chance to learn the basics and even some intermediate level strategies. This will save you a lot of headache and stress in the long run.
Tip #3 - Make a commitment to becoming profitable. Trading in currencies isn't for the timid or weak hearted and if you don't have the commitment to stick with it until you're successful you'll get trampled. Since trading in Forex markets for a gain is a competitive and often frustrating experience at first many people just give up. If you do this you'll fail and never become profitable but if you refuse to give up you can only succeed.
If you plan on sticking with currency trading and being successful then it's suggested you take advantage of some of the online courses and software programs that can help make it a lot easier by relieving repetitive and manual tasks. These can help supplement your efforts in trading currencies and bring you success faster with less stress and frustration.
Click Here For ProForexRobot - Market Shaker!!
Off shore banking is the best way to protect your money and keep it safe. To learn more about how you can get [http://www.theoffshorebankaccount.com/Offshore-Accounts/Off-Shore-Banking.html]off shore banking accounts, click on the following link: [http://www.theoffshorebankaccount.com]Offshore Bank Account. There's no better way to protect your money and keep it safe.
Article Source: http://EzineArticles.com
Saturday, July 3, 2010
Forex Trading Guides Can Guide You to Success
By Michael P Southall
How Can Forex Trading Guides Help You
Forex or the foreign exchange market is the place where the purchase and sale of foreign currencies take place. The transactions are done by individuals as well as companies as per the prevailing market rates. And there is no third party interference in this trade. Dealings are done directly between the two parties concerned. Therefore, it is referred to as "over-the-counter system". The system is decentralized, which means that it can be operated from anywhere in the world. There are many forex trading guides available, which will be of immense use to those who are unversed in this field.
By and large, forex is used to purchase actual international currencies. Forex has several advantages like the use of leverage and long trading hours around the world because of the different time zones. It is very important to go through forex trading guides before you make an investment, in order to avoid possible losses. Let us consider some useful tips.
Know the Market Well
The main point emphasized by most forex trading guides is to get to know the market well. Before you put your first foot forward, it is very important to familiarize yourself with the terms, conditions and the nature of the forex market. You should know when the market is active and when it becomes dull. More knowledge is in no way going to harm you. You could at least minimize losses if not maximize profits.
So equip yourself with knowledge before you start your foray into forex gather as much information as possible about the market. This can keep you and your company on the safe side. Try to read as many forex trading guides as possible. And also do some dummy runs. If possible, take up a professional course on the subject.
Take Up Lessons
In addition to reading forex trading guides, it is good to take up a course on the topic. Taking up a course will help you in gaining in-depth knowledge about the fundamentals of the system and also its functions.
Opt for an authentic course which is usually inexpensive. And don't get carried away by those false claims that certain prospectuses make, like making you a millionaire overnight. Those are mere scams. So be careful!
Steel Yourself
You need to put in the effort if you want to tread the market smoothly. You should be prepared, before you enter the market, only then will you be able to make profits. Forex trading guides do not have the magic wand that will turn you into a profit machine, you have to do your bit. If you multiply a thousand by zero you are sure to get a zero! So work hard, if you want results.
The market is never static. It keeps on changing. It has its own rules. So you should be well prepared if you want to be successful. You should be a good decision maker if you want to take advantage of the tips and tricks given in forex trading guides. Decision making is critical and you need to prepare well.
Click Here For Forex Kagi - Certified Forex Trading.!
Michael P Southall started his business with forays into forex and got mauled badly by the market forces, losing all his capital. Without letting the past to dominate his life, he studied the nuances of the forex market, its effects and counter effects, patterns and movements, deeply, and arrived at a system that rarely failed. For the convenience of his friends and other forex novices, struggling like him in the beginning stages, Michael opened a website... [http://www.forexmoneyexpert.com]Forex Trading Guides Visit Michael's website for more free tips and advice. Go here... [http://forexmoneyexpert.com/How-To-Trade-Forex.html]How To Trade Forex.
Article Source: http://EzineArticles.com
How Can Forex Trading Guides Help You
Forex or the foreign exchange market is the place where the purchase and sale of foreign currencies take place. The transactions are done by individuals as well as companies as per the prevailing market rates. And there is no third party interference in this trade. Dealings are done directly between the two parties concerned. Therefore, it is referred to as "over-the-counter system". The system is decentralized, which means that it can be operated from anywhere in the world. There are many forex trading guides available, which will be of immense use to those who are unversed in this field.
By and large, forex is used to purchase actual international currencies. Forex has several advantages like the use of leverage and long trading hours around the world because of the different time zones. It is very important to go through forex trading guides before you make an investment, in order to avoid possible losses. Let us consider some useful tips.
Know the Market Well
The main point emphasized by most forex trading guides is to get to know the market well. Before you put your first foot forward, it is very important to familiarize yourself with the terms, conditions and the nature of the forex market. You should know when the market is active and when it becomes dull. More knowledge is in no way going to harm you. You could at least minimize losses if not maximize profits.
So equip yourself with knowledge before you start your foray into forex gather as much information as possible about the market. This can keep you and your company on the safe side. Try to read as many forex trading guides as possible. And also do some dummy runs. If possible, take up a professional course on the subject.
Take Up Lessons
In addition to reading forex trading guides, it is good to take up a course on the topic. Taking up a course will help you in gaining in-depth knowledge about the fundamentals of the system and also its functions.
Opt for an authentic course which is usually inexpensive. And don't get carried away by those false claims that certain prospectuses make, like making you a millionaire overnight. Those are mere scams. So be careful!
Steel Yourself
You need to put in the effort if you want to tread the market smoothly. You should be prepared, before you enter the market, only then will you be able to make profits. Forex trading guides do not have the magic wand that will turn you into a profit machine, you have to do your bit. If you multiply a thousand by zero you are sure to get a zero! So work hard, if you want results.
The market is never static. It keeps on changing. It has its own rules. So you should be well prepared if you want to be successful. You should be a good decision maker if you want to take advantage of the tips and tricks given in forex trading guides. Decision making is critical and you need to prepare well.
Click Here For Forex Kagi - Certified Forex Trading.!
Michael P Southall started his business with forays into forex and got mauled badly by the market forces, losing all his capital. Without letting the past to dominate his life, he studied the nuances of the forex market, its effects and counter effects, patterns and movements, deeply, and arrived at a system that rarely failed. For the convenience of his friends and other forex novices, struggling like him in the beginning stages, Michael opened a website... [http://www.forexmoneyexpert.com]Forex Trading Guides Visit Michael's website for more free tips and advice. Go here... [http://forexmoneyexpert.com/How-To-Trade-Forex.html]How To Trade Forex.
Article Source: http://EzineArticles.com
Thursday, July 1, 2010
The Simplest Way to Earn in Forex
By Timothy Stevens
There are no rules that govern how you can go about your trading in Forex. The only limit to the quality and complexity of strategies is the traders' ingenuity; thus, the range of strategies in Forex trading begins with the most basic ones and continues to the highly intricate kinds. It is also true that most people are under the impression that the more complicated a strategy, the more effective it is, but that is not always the case. Experienced traders know for sure that simple trading techniques frequently snag the bigger pots, and what follows is the simplest yet very much effective way to make those investments generate some income.
To begin your Forex market adventure, choose either the EUR/USD or GBP/USD trade. Then choose two indicators, weighted MA and simple MA, preferably WMA 20 and MA 30. After that, all you have to do is to wait for the open price to go below the WMA 20 and MA 30, and for the price to go below the pivot point. When they do, that is the sell signal and the trade must be placed. This is a condition that does not frequently occur, but is absolutely sure to make you some bucks wealthier. On the other hand, the buy signal is when the price closes and opens higher than the two indicators, and is also beyond the pivot point.
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Perhaps the greatest drawback of this strategy is that it takes a lot of time since it capitalizes in prefect timing, but it is still definitely worth a try. Waiting is a virtue in Forex trading anyway.
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Article Source: http://EzineArticles.com
There are no rules that govern how you can go about your trading in Forex. The only limit to the quality and complexity of strategies is the traders' ingenuity; thus, the range of strategies in Forex trading begins with the most basic ones and continues to the highly intricate kinds. It is also true that most people are under the impression that the more complicated a strategy, the more effective it is, but that is not always the case. Experienced traders know for sure that simple trading techniques frequently snag the bigger pots, and what follows is the simplest yet very much effective way to make those investments generate some income.
To begin your Forex market adventure, choose either the EUR/USD or GBP/USD trade. Then choose two indicators, weighted MA and simple MA, preferably WMA 20 and MA 30. After that, all you have to do is to wait for the open price to go below the WMA 20 and MA 30, and for the price to go below the pivot point. When they do, that is the sell signal and the trade must be placed. This is a condition that does not frequently occur, but is absolutely sure to make you some bucks wealthier. On the other hand, the buy signal is when the price closes and opens higher than the two indicators, and is also beyond the pivot point.
Click Here For ProForex Robot!
Perhaps the greatest drawback of this strategy is that it takes a lot of time since it capitalizes in prefect timing, but it is still definitely worth a try. Waiting is a virtue in Forex trading anyway.
Breaking News! If you really want to [http://www.instantforexcash.com]Make Fast Money from Forex Trading, there is a proven Step-By-Step Technique that can help. Start Making Money Fast without wasting your time and Losing More Money, Visit: http://www.InstantForexCash.com/FreeReport.htm
Article Source: http://EzineArticles.com
Monday, June 28, 2010
Forex Trading Made Easy - Simple Tips to Make Triple Digit Gains in 30 Minutes a Day!
By Kelly Price
Despite the fact that 95% of all trader lose money, Forex trading can be made easy and here we will show you how to be a successful trader. Even better, you don't need a degree in economics or to work hard to win, you just need to work smart and get the right education and that's what this article is all about. Lets look at how to become a successful currency trader.
Before we look at Forex trading made easy, I want to make one point clear, learning to become a currency trader is easy but you do have to make some effort in a market where the vast majority of traders lose money. Most traders though, think they are going to get rich with no effort at all and trust their money to a cheap Forex robot. If you do this, you will end up losing all your money quickly. If you could really buy success for the cost of a good meal, no one would do a day job, they would all be trading!
You need to do some work but no business, will reward you so well for the effort you have to make, as global Forex trading.
The first point to keep in mind when getting your trading strategy together is:
Any currency trading strategy you use should be simple; never over complicate your trading strategy or it will have to many element to break. Anyone can learn a simple strategy but learning a currency trading strategy which can win, doesn't mean it will win. This is because, you have to apply it with discipline and most traders cannot do this.
So why is it so hard to trade with discipline? The answer is most traders believe myths about currency trading and also let their emotions get involved and this leads to disaster.
A surprising fact is most of the worlds top traders lose more trades than they win but does this stop them making big gains?
No - because they keep their losses small and their winners, are far bigger than their losing trades. The losing trader, believes the rubbish, written by people selling "sure fire systems" that these systems can win 95% of there trades. When the novice trader gets a run of losses, he lets his losses run and hopes they turn around and of course this leads to disaster. Also, when the losing trader has losses, he deviates from his strategy, engages in revenge trading and trades more than he should and soon get wiped out.
If you want to win at Forex trading, keep your losses small and don't let your emotions get involved. If you want to feel clever and win all the time then, FX trading is not for you and you should do something else to make money, because you are guaranteed to lose.
Forex trading made easy is a reality, for the trader who learns a simple trading system but also understands that they have to trade it with discipline to make money. The good news is becoming a disciplined trader is a choice and if you want to get them mindset of a winner, you can and enjoy big profits from Forex trading.
Click Here For Forex Kagi Certified Forex Trading!
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Article Source: http://EzineArticles.com
Despite the fact that 95% of all trader lose money, Forex trading can be made easy and here we will show you how to be a successful trader. Even better, you don't need a degree in economics or to work hard to win, you just need to work smart and get the right education and that's what this article is all about. Lets look at how to become a successful currency trader.
Before we look at Forex trading made easy, I want to make one point clear, learning to become a currency trader is easy but you do have to make some effort in a market where the vast majority of traders lose money. Most traders though, think they are going to get rich with no effort at all and trust their money to a cheap Forex robot. If you do this, you will end up losing all your money quickly. If you could really buy success for the cost of a good meal, no one would do a day job, they would all be trading!
You need to do some work but no business, will reward you so well for the effort you have to make, as global Forex trading.
The first point to keep in mind when getting your trading strategy together is:
Any currency trading strategy you use should be simple; never over complicate your trading strategy or it will have to many element to break. Anyone can learn a simple strategy but learning a currency trading strategy which can win, doesn't mean it will win. This is because, you have to apply it with discipline and most traders cannot do this.
So why is it so hard to trade with discipline? The answer is most traders believe myths about currency trading and also let their emotions get involved and this leads to disaster.
A surprising fact is most of the worlds top traders lose more trades than they win but does this stop them making big gains?
No - because they keep their losses small and their winners, are far bigger than their losing trades. The losing trader, believes the rubbish, written by people selling "sure fire systems" that these systems can win 95% of there trades. When the novice trader gets a run of losses, he lets his losses run and hopes they turn around and of course this leads to disaster. Also, when the losing trader has losses, he deviates from his strategy, engages in revenge trading and trades more than he should and soon get wiped out.
If you want to win at Forex trading, keep your losses small and don't let your emotions get involved. If you want to feel clever and win all the time then, FX trading is not for you and you should do something else to make money, because you are guaranteed to lose.
Forex trading made easy is a reality, for the trader who learns a simple trading system but also understands that they have to trade it with discipline to make money. The good news is becoming a disciplined trader is a choice and if you want to get them mindset of a winner, you can and enjoy big profits from Forex trading.
Click Here For Forex Kagi Certified Forex Trading!
NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf's, with 50 of pages of essential Forex info and the BEST [http://www.learncurrencytradingonline.com/subscribe.html]Currency Trading Strategies for success, visit our website at: [http://www.learncurrencytradingonline.com]http://www.learncurrencytradingonline.com.
Article Source: http://EzineArticles.com
Monday, June 21, 2010
Forex Robot Trading - The Key Reasons Most Lose and How to Spot a Winning Robot
By Sonia Kristina
You will find numerous cheap robots which promise you huge gains with low drawdown and even better, you don't have to do any work! Who wouldn't want a life time income for just the cost of a good night out. Let's look at the reality of Forex robot trading and see which lose, how much you can make with a good one and how to find one.
If you want to spot a losing Forex robot just look at unrealistic claims and you will find plenty and all the following statements are not true:
- Make a regular income monthly
- Make Over 500% with Less than 10% drawdown
- Trade with 90% Accuracy or more
- Predict Future Price Movements in Advance with Artificial Intelligence
There are many more but the above statements are laughable and if they were true these robots would be turning in better numbers than the world's top traders like George Soros.
In addition, if they were true, banks would save billions by firing there dealing teams and replacing them with a hundred buck robot and of course this has not happened. Despite all the huge claims of profit these robots make, most have never made any real money!
Just check the track record and you will find the track record is simulated on paper ( which means done on paper knowing all the closing prices) or you get results direct from the vendor, who is selling the system with no outside check. Quickly go to some forums and you will see users, who are bemused there not getting the same results!
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Unless, the track record is audited and from a neutral source pass the system by. You need audited results but how much can you make with the best robots?
You can make up to a hundred percent per annum with the best which is a great return but you will get drawdown too and these drawdown periods will last a few weeks to a few months and be in the region of 30%.
If you want great long term gains a good robot can give you them but be prepared to judge performance over the long term and always remember all robots make big claims but few have a real time track record and in Forex trading that's all that counts
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Article Source: http://EzineArticles.com
You will find numerous cheap robots which promise you huge gains with low drawdown and even better, you don't have to do any work! Who wouldn't want a life time income for just the cost of a good night out. Let's look at the reality of Forex robot trading and see which lose, how much you can make with a good one and how to find one.
If you want to spot a losing Forex robot just look at unrealistic claims and you will find plenty and all the following statements are not true:
- Make a regular income monthly
- Make Over 500% with Less than 10% drawdown
- Trade with 90% Accuracy or more
- Predict Future Price Movements in Advance with Artificial Intelligence
There are many more but the above statements are laughable and if they were true these robots would be turning in better numbers than the world's top traders like George Soros.
In addition, if they were true, banks would save billions by firing there dealing teams and replacing them with a hundred buck robot and of course this has not happened. Despite all the huge claims of profit these robots make, most have never made any real money!
Just check the track record and you will find the track record is simulated on paper ( which means done on paper knowing all the closing prices) or you get results direct from the vendor, who is selling the system with no outside check. Quickly go to some forums and you will see users, who are bemused there not getting the same results!
Click Here For Fap Turbo Expert Guide!
Unless, the track record is audited and from a neutral source pass the system by. You need audited results but how much can you make with the best robots?
You can make up to a hundred percent per annum with the best which is a great return but you will get drawdown too and these drawdown periods will last a few weeks to a few months and be in the region of 30%.
If you want great long term gains a good robot can give you them but be prepared to judge performance over the long term and always remember all robots make big claims but few have a real time track record and in Forex trading that's all that counts
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Article Source: http://EzineArticles.com
Friday, June 18, 2010
How to Make Big Money Through Forex?
By Timothy Stevens
The foreign exchange market involves 3 trillion dollars daily on its trades alone. It has turned into the biggest and the most popular market in the whole world. Because of different technological advances, there has been an increase in the number of home-based traders.
However, it is true that majority of these home-based traders fail to make money out of the foreign exchange market. They often see trading currencies as some sort of a gamble. They do their business without using trading techniques and trading analysis. If they were to be successful in this field, they need to put in the proper amount of research and education. There is no such thing as a free meal. Just like in other businesses, one needs to undergo the hardships before ripping the positive effects.
There are certain things that one should know in order to make a big profit through forex trading. First, he should know that the currencies market is very fluid. There are automated systems that beginners may use to analyse the fluctuations and trends. Through these systems, trading gibberish would actually make sense.
Traders need to spend time in learning about the ropes of the foreign exchange market. Unwillingness to learn should be enough reason for one to quit forex trading. If you seriously want to make money out of trading foreign currencies, you should start with a demo account. This will train you in trading without investing real money. You get to experience the trading process without losing anything.
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Article Source: http://EzineArticles.com
The foreign exchange market involves 3 trillion dollars daily on its trades alone. It has turned into the biggest and the most popular market in the whole world. Because of different technological advances, there has been an increase in the number of home-based traders.
However, it is true that majority of these home-based traders fail to make money out of the foreign exchange market. They often see trading currencies as some sort of a gamble. They do their business without using trading techniques and trading analysis. If they were to be successful in this field, they need to put in the proper amount of research and education. There is no such thing as a free meal. Just like in other businesses, one needs to undergo the hardships before ripping the positive effects.
There are certain things that one should know in order to make a big profit through forex trading. First, he should know that the currencies market is very fluid. There are automated systems that beginners may use to analyse the fluctuations and trends. Through these systems, trading gibberish would actually make sense.
Traders need to spend time in learning about the ropes of the foreign exchange market. Unwillingness to learn should be enough reason for one to quit forex trading. If you seriously want to make money out of trading foreign currencies, you should start with a demo account. This will train you in trading without investing real money. You get to experience the trading process without losing anything.
Click Here For Real Money Doubling Forex Robot Fap Turbo!
Breaking News! If you really want to [http://www.instantforexcash.com]Make Fast Money from Forex Trading, there is a proven Step-By-Step Technique that can help. Start Making Money Fast without wasting your time and Losing More Money, Visit: http://www.InstantForexCash.com/FreeReport.htm
Article Source: http://EzineArticles.com
Wednesday, June 16, 2010
Forex Trading Secrets - Strategies to Turbo Charge Your Forex Trading Method and Make Big Profits
By Chris Cornely
Forex trading is gaining a lot of popularity in these times and many people are interested in the same. If basic tips and rules are followed then forex trading can prove to be very profitable. It is important for all forex traders to learn the dynamics of the trade and understand all the concepts carefully to ensure that they earn profits in the trade.
One important aspect of forex trading is to have and implement a trading plan. A trading plan will ensure that you will always have control of the trade and not succumb to the pressures of speculation, which can cause losses. Emotions can take over your discretionary senses and due to greed, you might take short cuts and make the wrong moves which might cause heavy losses. Thus, it becomes imperative to have a plan and strictly stick to it.
Another important thing that needs to be kept in mind is that you should trade within your means. The simple thing to remember here is that you cannot afford to win if you cannot afford to lose. It is not essential to lose but you should keep in mind that it is very natural to lose money in the trade. You should always use your excess savings to trade. A part of the income should be kept aside and only this money should be used to trade. If this is lost, you should stop and not use the any additional funds, particularly borrowed funds.
In Forex, you should avoid thin markets and should always trade in the popular currency pairs. If there is not much participation in the currency you trade in, there will be liquidity issues. Some of the popular pairs are USD/EURO, USG/GBD, and USD/JPY etc. You should avoid trading in different markets as this will only lead to confusion. Thus it is advisable to choose a popular currency pair and research extensively on that.
It is important to have a trading plan and stick to it strictly as this avoids emotional trading. It is not correct to hope that the market will favor you and thus, hold onto a weakened position. If you hold a weak position, you might end up losing all your money invested. You should stay with the trading plan and move on while realizing the mistakes you've made.
You should always look at the long term trends for reference as these normally move in the same direction. Odds improve in the forex market when you trade with the trends. Due to the high liquidity, forex trading is becoming very popular and it allows you to trade 24X7. You should follow the basic tips listed in this article. Combined with experience, capital, knowledge and some luck, you will get the profits you desire.
Click Here For ProForexRobot!
Double your profits and trade emotion-free by using an automated trading robot. For a [http://forextradingsecrets.us/]free report on a trading robot that I recommend based on first-hand experience, go to [http://forextradingsecrets.us/]http://forextradingsecrets.us/.
Best of luck with your forex trading adventures - make some big money in today's volatile but lucrative times!
Article Source: http://EzineArticles.com
Forex trading is gaining a lot of popularity in these times and many people are interested in the same. If basic tips and rules are followed then forex trading can prove to be very profitable. It is important for all forex traders to learn the dynamics of the trade and understand all the concepts carefully to ensure that they earn profits in the trade.
One important aspect of forex trading is to have and implement a trading plan. A trading plan will ensure that you will always have control of the trade and not succumb to the pressures of speculation, which can cause losses. Emotions can take over your discretionary senses and due to greed, you might take short cuts and make the wrong moves which might cause heavy losses. Thus, it becomes imperative to have a plan and strictly stick to it.
Another important thing that needs to be kept in mind is that you should trade within your means. The simple thing to remember here is that you cannot afford to win if you cannot afford to lose. It is not essential to lose but you should keep in mind that it is very natural to lose money in the trade. You should always use your excess savings to trade. A part of the income should be kept aside and only this money should be used to trade. If this is lost, you should stop and not use the any additional funds, particularly borrowed funds.
In Forex, you should avoid thin markets and should always trade in the popular currency pairs. If there is not much participation in the currency you trade in, there will be liquidity issues. Some of the popular pairs are USD/EURO, USG/GBD, and USD/JPY etc. You should avoid trading in different markets as this will only lead to confusion. Thus it is advisable to choose a popular currency pair and research extensively on that.
It is important to have a trading plan and stick to it strictly as this avoids emotional trading. It is not correct to hope that the market will favor you and thus, hold onto a weakened position. If you hold a weak position, you might end up losing all your money invested. You should stay with the trading plan and move on while realizing the mistakes you've made.
You should always look at the long term trends for reference as these normally move in the same direction. Odds improve in the forex market when you trade with the trends. Due to the high liquidity, forex trading is becoming very popular and it allows you to trade 24X7. You should follow the basic tips listed in this article. Combined with experience, capital, knowledge and some luck, you will get the profits you desire.
Click Here For ProForexRobot!
Double your profits and trade emotion-free by using an automated trading robot. For a [http://forextradingsecrets.us/]free report on a trading robot that I recommend based on first-hand experience, go to [http://forextradingsecrets.us/]http://forextradingsecrets.us/.
Best of luck with your forex trading adventures - make some big money in today's volatile but lucrative times!
Article Source: http://EzineArticles.com
Monday, June 14, 2010
Learn Forex - Lessons From a Group of Millionaire Traders You Need to Know For Bigger Profits!
By Samuel Leslie Berkovits
Here we will look at how to learn Forex trading the right way, we will look at a group of people who had no experience of trading, learned to trade in two weeks and then went onto make hundreds of millions of dollars. I am not saying you will earn as much as them but what they did is sound advice and can help anyone profit from global Forex trading.
The Turtle experiment was devised by trading legend Richard Dennis and his aim was simple - to prove anyone could learn to trade with the right education. He took a group of people who ranged from a security guard, to a boy just out of high school and set about teaching them to trade.
After a period of instruction which lasted two weeks, they got accounts of $100,000 each and were allowed to trade. They all received a percentage of the profits as their income and they went on to make several hundred million dollars profits.
It's an inspiring story and how they achieved it was not with a complicated trading system in fact, the system was simple and was just a breakout system which followed long term trends. The system didn't even win most of its trades, it lost far more than it won but had great money management.
The system itself was not the key to success and Dennis knew this, he therefore focused on giving his pupils the right mindset and. instilling discipline in them. After the experiment was over most of the the traders said following the system as it was given to them, was far harder than learning the system itself.
Today there are lot's of people telling you trading is easy - you can plug in a robot make thousands of percent and have a success rate of over 90% but this is not the reality of trading.
The reality of trading is - being able to follow a logical system through long periods of drawdown ( all the best systems lose for long periods) and staying on track until profits re-emerge. In the second article in this series,we will focus on why most people can't get the right mindset for success and how you can achieve it and enjoy currency trading success.
Click Here For ProForexRobot!
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Article Source: http://EzineArticles.com
Here we will look at how to learn Forex trading the right way, we will look at a group of people who had no experience of trading, learned to trade in two weeks and then went onto make hundreds of millions of dollars. I am not saying you will earn as much as them but what they did is sound advice and can help anyone profit from global Forex trading.
The Turtle experiment was devised by trading legend Richard Dennis and his aim was simple - to prove anyone could learn to trade with the right education. He took a group of people who ranged from a security guard, to a boy just out of high school and set about teaching them to trade.
After a period of instruction which lasted two weeks, they got accounts of $100,000 each and were allowed to trade. They all received a percentage of the profits as their income and they went on to make several hundred million dollars profits.
It's an inspiring story and how they achieved it was not with a complicated trading system in fact, the system was simple and was just a breakout system which followed long term trends. The system didn't even win most of its trades, it lost far more than it won but had great money management.
The system itself was not the key to success and Dennis knew this, he therefore focused on giving his pupils the right mindset and. instilling discipline in them. After the experiment was over most of the the traders said following the system as it was given to them, was far harder than learning the system itself.
Today there are lot's of people telling you trading is easy - you can plug in a robot make thousands of percent and have a success rate of over 90% but this is not the reality of trading.
The reality of trading is - being able to follow a logical system through long periods of drawdown ( all the best systems lose for long periods) and staying on track until profits re-emerge. In the second article in this series,we will focus on why most people can't get the right mindset for success and how you can achieve it and enjoy currency trading success.
Click Here For ProForexRobot!
NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf's, with 50 of pages of essential Forex info and the BEST [http://www.learncurrencytradingonline.com/subscribe.html]Currency Trading Strategies for success, visit our website at: [http://www.learncurrencytradingonline.com]http://www.learncurrencytradingonline.com.
Article Source: http://EzineArticles.com
Friday, June 11, 2010
Managed Forex Trading - Important Tips
By Fais Fahrurozi
For this reason, it is important to take extra precautionary measures in choosing for the best brand of foreign currency trading robot because it can significantly make or break your day. The quality of software that you shall be using can tremendously influence the amount of money that you are going to gain; or the sum of investment that you are going to lose. Hence, you have to spend more time on researching for the best product by verifying the veracity of its claims; as well as ensuring that the software is using a well managed forex trading platform as one of its basis of analysis.
To further aid you in your selection process, one of the things that you should check is the number of gains it can make compared to the number of losses. If the robot has more losses than gains in its record then move on to another brand until you are able to find one that has more gains than losses.
There are quite a number of them in the market; just choose one among those with high accuracy rate. The brand with high precision in its recommendations are using well managed forex trading platform to get credible analysis; thereby generating more accurate projections.
Another essential feature that the brand should have is the ability to be programmed on autopilot mode. In other words, you can make the forex robot do the trading for you and still come out with gaining results. A lot of people were able to earn profits when they set the robot to autopilot trading mode from time to time; although some of the trades end up losing some of their investments, but most of the short term trades were gaining. In the end, they still end up on the winning edge.
At this point, you should already have an idea on how to choose the best well managed forex trading robot to assist you in your investment in the foreign currency exchange market.
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Visit http://www2.forexsoftwarereviewsnow.com/ for more informations and reviews.
Article Source: http://EzineArticles.com
For this reason, it is important to take extra precautionary measures in choosing for the best brand of foreign currency trading robot because it can significantly make or break your day. The quality of software that you shall be using can tremendously influence the amount of money that you are going to gain; or the sum of investment that you are going to lose. Hence, you have to spend more time on researching for the best product by verifying the veracity of its claims; as well as ensuring that the software is using a well managed forex trading platform as one of its basis of analysis.
To further aid you in your selection process, one of the things that you should check is the number of gains it can make compared to the number of losses. If the robot has more losses than gains in its record then move on to another brand until you are able to find one that has more gains than losses.
There are quite a number of them in the market; just choose one among those with high accuracy rate. The brand with high precision in its recommendations are using well managed forex trading platform to get credible analysis; thereby generating more accurate projections.
Another essential feature that the brand should have is the ability to be programmed on autopilot mode. In other words, you can make the forex robot do the trading for you and still come out with gaining results. A lot of people were able to earn profits when they set the robot to autopilot trading mode from time to time; although some of the trades end up losing some of their investments, but most of the short term trades were gaining. In the end, they still end up on the winning edge.
At this point, you should already have an idea on how to choose the best well managed forex trading robot to assist you in your investment in the foreign currency exchange market.
Click Here To Buy ProForexRobot!
Visit http://www2.forexsoftwarereviewsnow.com/ for more informations and reviews.
Article Source: http://EzineArticles.com
Wednesday, June 9, 2010
Forex Trading is Within Your Reach With Fap Turbo
By Mary Thomson
Fap turbo is an experienced campaigner in the forex market and is liked by many users for its simple mode of action to produce desired results. Many people around the world use the software to gain in forex activities. The forex trade is a tough platform where only experience counts and fresh players find it extremely difficult to get a place in the group. This is because they fail to identify the right time to make actions of purchase and sales, which experienced traders, are able to do.
The time has totally changed now and with the arrival of the latest technology, anybody can engage in the activities of the trade like the experienced ones. The skill is now available to common people who are able to take part in the trading very easily. Fap turbo looks after the forex trade activities with the same attention as you would have done with a long experience.
It has a fantastic system, incorporated in the software, which helps to select the product just like a professional and make dealings in your favor even if you are not attending the trading process. The cost of the software is well within reach of general mass and the installation is as simple as downloading a software in your computer. You can learn from the demonstration pack supplied with the original and manufacturers guarantee the product for a certain time, which is usually 8 weeks approximately.
The only thing is that you must run your computer throughout the day so that the software can perform its work. Other types contain different facilities with their own servers where you do not have to run the computer, but identify your account only. With Fap turbo, you can try your hand in the forex trading market and win some real dough without the experience of forex market.
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Article Source: http://EzineArticles.com
Fap turbo is an experienced campaigner in the forex market and is liked by many users for its simple mode of action to produce desired results. Many people around the world use the software to gain in forex activities. The forex trade is a tough platform where only experience counts and fresh players find it extremely difficult to get a place in the group. This is because they fail to identify the right time to make actions of purchase and sales, which experienced traders, are able to do.
The time has totally changed now and with the arrival of the latest technology, anybody can engage in the activities of the trade like the experienced ones. The skill is now available to common people who are able to take part in the trading very easily. Fap turbo looks after the forex trade activities with the same attention as you would have done with a long experience.
It has a fantastic system, incorporated in the software, which helps to select the product just like a professional and make dealings in your favor even if you are not attending the trading process. The cost of the software is well within reach of general mass and the installation is as simple as downloading a software in your computer. You can learn from the demonstration pack supplied with the original and manufacturers guarantee the product for a certain time, which is usually 8 weeks approximately.
The only thing is that you must run your computer throughout the day so that the software can perform its work. Other types contain different facilities with their own servers where you do not have to run the computer, but identify your account only. With Fap turbo, you can try your hand in the forex trading market and win some real dough without the experience of forex market.
Click Here To Get Fap Turbo Now!
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Article Source: http://EzineArticles.com
Thursday, June 3, 2010
Useful Tips For Evaluating Forex Trading Systems
By Loralaine Baird
As you very well know the forex market is being flooded with so many software systems which could very well reduce much of the human effort involved in trading. Out of all these systems only very few tools could provide accurate and consistent results. Hence you should be very careful while choosing such software or otherwise you would end up in losses.
Below listed are few of the techniques that you could adopt in order to evaluate and identify the best forex systems that could bring your fortunes,
1. Do look out for those products which are being developed by a firm which has a strong foundation in the forex trading business. Only if they have thorough business knowledge they could be able to design a good system.
2. The next thing you should do is to read the various reviews that are available online about these products. These reviews are being posted by many of the existing users of the system and using this you could very well understand the performance of the system.
3. Do get to know in what are all the scenarios the software has been tested. For a good forex trading system it should have undergone testing in the live market environment and the results obtained should be very close to accurate.
4. Do choose those products which guarantees cash back offer if at all you incur any losses because of the bad performance of the system. Only very few genuine companies could provide such offers.
5. Before actually purchasing the system do test it yourself with the trail version of the software and only if you are convinced with its performance go for that product.
So do spent some of your valuable time in choosing the best forex trading software and make more money at ease.
Click Here For ProForexRobot!
So what you are waiting for, do get into this website to get to know more about [http://forexcyto.com/evaluating-forex-trading-systems-becomes-simple-with-demo-accounts/]evaluating forex trading systems.
Article Source: http://EzineArticles.com
As you very well know the forex market is being flooded with so many software systems which could very well reduce much of the human effort involved in trading. Out of all these systems only very few tools could provide accurate and consistent results. Hence you should be very careful while choosing such software or otherwise you would end up in losses.
Below listed are few of the techniques that you could adopt in order to evaluate and identify the best forex systems that could bring your fortunes,
1. Do look out for those products which are being developed by a firm which has a strong foundation in the forex trading business. Only if they have thorough business knowledge they could be able to design a good system.
2. The next thing you should do is to read the various reviews that are available online about these products. These reviews are being posted by many of the existing users of the system and using this you could very well understand the performance of the system.
3. Do get to know in what are all the scenarios the software has been tested. For a good forex trading system it should have undergone testing in the live market environment and the results obtained should be very close to accurate.
4. Do choose those products which guarantees cash back offer if at all you incur any losses because of the bad performance of the system. Only very few genuine companies could provide such offers.
5. Before actually purchasing the system do test it yourself with the trail version of the software and only if you are convinced with its performance go for that product.
So do spent some of your valuable time in choosing the best forex trading software and make more money at ease.
Click Here For ProForexRobot!
So what you are waiting for, do get into this website to get to know more about [http://forexcyto.com/evaluating-forex-trading-systems-becomes-simple-with-demo-accounts/]evaluating forex trading systems.
Article Source: http://EzineArticles.com
How to Make More Money With Forex Trading
By Loralaine Baird
Many people do really think that forex is much easier than any other market to make more money. But it is not true, it is not very easy to make money out of this market and it requires a lot of analysis and mental preparation to be successful in this field. Since this market is spread across the globe it is highly required to have a closer watch on the things happening across the world in order to make your choice of currency to trade.
The amount of risk that is involved in this business is equally high when compared to any other market and even it is more than others. Any slight miscalculation could very well lead you to great losses and hence you should have the real talent in order to make profit among the risks involved.
If you are newly entering this market and you really do not know much about forex, then it is better to be a listener for sometime till you are strong with the basics of forex trading. During this period you could very closely analyze the market situation and the factors that are influencing the volatile nature of the currencies. Once you know how the market operates it is time to learn, how to make good strategies.
You could very well develop this quality by reading many of the financial news as well as the various analysis reports and statistics that are being provided by many of the experts. With this you could be able to identify the techniques to handle different kind of situations which is very important to make profits.
After this you should get a practical trading experience by means of investing a very little amount of money and trade on your own. This could very well help you judge your knowledge about the market as well as your strategic skills before you actually get into business.
Once you are skilled enough in all these things you could very well make good amount of money out of forex trading.
Click Here For ProForexRobot!
For much better understanding of the [http://forexcyto.com/working-of-automatic-forex-trading-systems/]forex trading systems and its limitations, do make use of this website.
Article Source: http://EzineArticles.com
Many people do really think that forex is much easier than any other market to make more money. But it is not true, it is not very easy to make money out of this market and it requires a lot of analysis and mental preparation to be successful in this field. Since this market is spread across the globe it is highly required to have a closer watch on the things happening across the world in order to make your choice of currency to trade.
The amount of risk that is involved in this business is equally high when compared to any other market and even it is more than others. Any slight miscalculation could very well lead you to great losses and hence you should have the real talent in order to make profit among the risks involved.
If you are newly entering this market and you really do not know much about forex, then it is better to be a listener for sometime till you are strong with the basics of forex trading. During this period you could very closely analyze the market situation and the factors that are influencing the volatile nature of the currencies. Once you know how the market operates it is time to learn, how to make good strategies.
You could very well develop this quality by reading many of the financial news as well as the various analysis reports and statistics that are being provided by many of the experts. With this you could be able to identify the techniques to handle different kind of situations which is very important to make profits.
After this you should get a practical trading experience by means of investing a very little amount of money and trade on your own. This could very well help you judge your knowledge about the market as well as your strategic skills before you actually get into business.
Once you are skilled enough in all these things you could very well make good amount of money out of forex trading.
Click Here For ProForexRobot!
For much better understanding of the [http://forexcyto.com/working-of-automatic-forex-trading-systems/]forex trading systems and its limitations, do make use of this website.
Article Source: http://EzineArticles.com
Monday, March 29, 2010
Forex Trading Secrets - How to "Strategically Place the Stop Loss" Before it Ruins Your Account!
In any form of trading, a cut loss point also known as "Stop Loss" is very essential so as to preserve your trading capital in case you are wrong big time about a trade.
The use of Stop Loss is definitely mandatory when one is trading an extremely volatile market such as the forex. It can be in the form of "Pre-Set or Mentally-Set" one though. What matters most is to know when you would like to exit the trade when you wrong.
Although using a stop loss is suppose to "Protect" any trader from getting caught up in a major deficit and slowly eating into his/her trading capital, however, most traders are getting their stop loss hit again and again until a point where they received a margin call too.
This kind of experience is indeed not pleasant especially when one has the idea that using a stop-loss is suppose to be protecting their trade instead of the other way round.
I for once also keep getting my stop loss hit and hit until those small pips get accumulated into really big ones and eat away a significant portion of my trading capital. That was during my so called "beginner" days while trying to master this forex trading thingy.
If you don't know this yet, there are just too many struggling traders who are getting very frustrated with using stop loss - Due to the fact that they are always losing when they use it!
Are you also facing the same problem too?
What can be done with this situation then?
I have a solution for you here to overcome that frustration with stop-loss placement and it is by discovering these strategies that have brought me the trading success I desired.
Here's how:
Most traders simply do not know what is the appropriate stop-loss to use and so they rather choose a "fix number" to achieve that.
That is really a wrong move as a 30 pips stop loss might be good for day 1, but due to the different volatility and market conditions in day 2, that same 30 pips might not survive it and hence they only got hit and to see the trade go the direction they wanted previously. It is very frustrating to see this situation definitely.
What is a "good" location to place the stop-loss strategically then?
1 ) Place It Slightly Above / Below A "Price Pull-back" ( maybe 5 pips allowance )
When a pullback happens, the price is very unlikely to breach that level again and this is known as the "market characteristic". Should the price gets breached and your stop loss being hit, it would be wise for you to exit too because it might be a major reversal in place and could go against you for hundred of pips ( even thousands )
2) Always Good To Place It After Spotting A "Pinbar" Formation.
When a "Pinbar" has formed in the market, it literally shows a lot about who is dominating the market now.
Example: Let's say for a strong down-trend, and you spot an Inverted Pinbar just after the pullback near the previous support, then you would know it is a "good" location to place the stop loss just above that. This kind of "Market Sign" basically signals that the SELLERS are very strong, hence forming that "Inverted Pinbar".
If you have been bothered by the problem of Stop-Loss "getting hit and hit again" although you are right about the direction in the market, then most likely you do not know about these 2 proven stop loss placement strategies yet.
Do try it and I am sure your future trades would improve significantly and you do not need to bother about wild guessing what is the right stop loss to use anymore!
Aaron Tan is a full time forex trader working from home. Ever since he started trading using Forex Price Action, he became very successful and even managed to quit his day job to trade full time and making a nice income every month.
In his blog about Forex Trading Strategies, he will be sharing with you how he achieve that in the simplest way possible.
Visit his forex blog here: http://www.forextradingempire.com
Article Source: [http://EzineArticles.com/?Forex-Trading-Secrets---How-to-Strategically-Place-the-Stop-Loss-Before-it-Ruins-Your-Account!&id=4004839] Forex Trading Secrets - How to "Strategically Place the Stop Loss" Before it Ruins Your Account!
The use of Stop Loss is definitely mandatory when one is trading an extremely volatile market such as the forex. It can be in the form of "Pre-Set or Mentally-Set" one though. What matters most is to know when you would like to exit the trade when you wrong.
Although using a stop loss is suppose to "Protect" any trader from getting caught up in a major deficit and slowly eating into his/her trading capital, however, most traders are getting their stop loss hit again and again until a point where they received a margin call too.
This kind of experience is indeed not pleasant especially when one has the idea that using a stop-loss is suppose to be protecting their trade instead of the other way round.
I for once also keep getting my stop loss hit and hit until those small pips get accumulated into really big ones and eat away a significant portion of my trading capital. That was during my so called "beginner" days while trying to master this forex trading thingy.
If you don't know this yet, there are just too many struggling traders who are getting very frustrated with using stop loss - Due to the fact that they are always losing when they use it!
Are you also facing the same problem too?
What can be done with this situation then?
I have a solution for you here to overcome that frustration with stop-loss placement and it is by discovering these strategies that have brought me the trading success I desired.
Here's how:
Most traders simply do not know what is the appropriate stop-loss to use and so they rather choose a "fix number" to achieve that.
That is really a wrong move as a 30 pips stop loss might be good for day 1, but due to the different volatility and market conditions in day 2, that same 30 pips might not survive it and hence they only got hit and to see the trade go the direction they wanted previously. It is very frustrating to see this situation definitely.
What is a "good" location to place the stop-loss strategically then?
1 ) Place It Slightly Above / Below A "Price Pull-back" ( maybe 5 pips allowance )
When a pullback happens, the price is very unlikely to breach that level again and this is known as the "market characteristic". Should the price gets breached and your stop loss being hit, it would be wise for you to exit too because it might be a major reversal in place and could go against you for hundred of pips ( even thousands )
2) Always Good To Place It After Spotting A "Pinbar" Formation.
When a "Pinbar" has formed in the market, it literally shows a lot about who is dominating the market now.
Example: Let's say for a strong down-trend, and you spot an Inverted Pinbar just after the pullback near the previous support, then you would know it is a "good" location to place the stop loss just above that. This kind of "Market Sign" basically signals that the SELLERS are very strong, hence forming that "Inverted Pinbar".
If you have been bothered by the problem of Stop-Loss "getting hit and hit again" although you are right about the direction in the market, then most likely you do not know about these 2 proven stop loss placement strategies yet.
Do try it and I am sure your future trades would improve significantly and you do not need to bother about wild guessing what is the right stop loss to use anymore!
Aaron Tan is a full time forex trader working from home. Ever since he started trading using Forex Price Action, he became very successful and even managed to quit his day job to trade full time and making a nice income every month.
In his blog about Forex Trading Strategies, he will be sharing with you how he achieve that in the simplest way possible.
Visit his forex blog here: http://www.forextradingempire.com
Article Source: [http://EzineArticles.com/?Forex-Trading-Secrets---How-to-Strategically-Place-the-Stop-Loss-Before-it-Ruins-Your-Account!&id=4004839] Forex Trading Secrets - How to "Strategically Place the Stop Loss" Before it Ruins Your Account!
Forex Trading Tips - Why it is Bad For You to Aim For Small Forex Profits (10-15 Pips)?
Are you struggling to break-even each month trading Forex because you are aiming for small profits of 10 - 15 pips each time? If you are indeed struggling with this problem OR planning to scalp the market for 10 - 15 pips each time hoping to make 100 - 150 pips end of the day, then this article would shed some cruel truth and allow you to get enlighten perhaps.
Most traders naturally believe that aiming for 10 - 15 pips is anytime much easier than trying to aim for 30 - 50 pips. This is so because anytime, the market could be moving in the 10 - 15 pips range but it would take quite a while or even whole day to move 30 - 50 pips for some currency pairs.
Aiming for small profits of 10 - 15 pips is " easier " as accordingly to most traders who choose to believe so. But after they literally tried it for a month or so, they would normally end up trying because they are merely breaking even and very tiring.
Now, in any trading game, it is nothing more complex but just a game of " Probability". If you can secure more wins than losses, you win end of the day. Very simple facts based on logical approach that is.
Most only think of " how easy " it is if they are only aiming 10 - 15 pips each time, but what about when the trades go against them?
When do they cut loss? 15 pips, 20 pips or after 80 pips? Some might set the cut loss at the 15 pips point and aiming for a risk/reward of 1: 1. And if you have been trading for awhile now, you would definitely agree that with such stop loss range ( 15 pips ), it is very hard to survive at all. Perhaps 8/10 times it would get hit and there goes your capital.
Furthermore, whenever the stop loss is about to get hit, most traders would bound to panic and even try to " Shift " the stop loss and end up suffering even greater deficit - Which only drain away their trading capital!
At this point, I would say that if any trader is really serious about making a nice income out of trading Forex and enjoy the freedom of time and financial returns, then it is no good to use strategy that only aims for such small profits each time.
Instead of aiming for 10 - 15 pips, why not try aiming for 40 - 45 pips? And set the Stop Loss at about 30 pips so as to give " Better Breathing Space " for the trade to develops smoothly.
Not only are you getting a Good " Risk/Reward " ratio of 1.5x ( with 45pips / 30pips ), but it would save you from ( a lot ) of unnecessary frustrations seeing your tight stop loss getting hit again and again. And of course, it is not as tiring too!
Aaron Tan is a full time Forex trader working from home. Ever since he started trading using Forex Price Action, he became very successful and even managed to quit his day job to trade full time and making a nice income every month.
In his blog about Forex Trading Strategies, he will be sharing with you how he achieve that in the simplest way possible.
Visit his Forex blog here: http://www.forextradingempire.com
Article Source: [http://EzineArticles.com/?Forex-Trading-Tips---Why-it-is-Bad-For-You-to-Aim-For-Small-Forex-Profits-(10-15-Pips)?&id=4004779] Forex Trading Tips - Why it is Bad For You to Aim For Small Forex Profits (10-15 Pips)?
Most traders naturally believe that aiming for 10 - 15 pips is anytime much easier than trying to aim for 30 - 50 pips. This is so because anytime, the market could be moving in the 10 - 15 pips range but it would take quite a while or even whole day to move 30 - 50 pips for some currency pairs.
Aiming for small profits of 10 - 15 pips is " easier " as accordingly to most traders who choose to believe so. But after they literally tried it for a month or so, they would normally end up trying because they are merely breaking even and very tiring.
Now, in any trading game, it is nothing more complex but just a game of " Probability". If you can secure more wins than losses, you win end of the day. Very simple facts based on logical approach that is.
Most only think of " how easy " it is if they are only aiming 10 - 15 pips each time, but what about when the trades go against them?
When do they cut loss? 15 pips, 20 pips or after 80 pips? Some might set the cut loss at the 15 pips point and aiming for a risk/reward of 1: 1. And if you have been trading for awhile now, you would definitely agree that with such stop loss range ( 15 pips ), it is very hard to survive at all. Perhaps 8/10 times it would get hit and there goes your capital.
Furthermore, whenever the stop loss is about to get hit, most traders would bound to panic and even try to " Shift " the stop loss and end up suffering even greater deficit - Which only drain away their trading capital!
At this point, I would say that if any trader is really serious about making a nice income out of trading Forex and enjoy the freedom of time and financial returns, then it is no good to use strategy that only aims for such small profits each time.
Instead of aiming for 10 - 15 pips, why not try aiming for 40 - 45 pips? And set the Stop Loss at about 30 pips so as to give " Better Breathing Space " for the trade to develops smoothly.
Not only are you getting a Good " Risk/Reward " ratio of 1.5x ( with 45pips / 30pips ), but it would save you from ( a lot ) of unnecessary frustrations seeing your tight stop loss getting hit again and again. And of course, it is not as tiring too!
Aaron Tan is a full time Forex trader working from home. Ever since he started trading using Forex Price Action, he became very successful and even managed to quit his day job to trade full time and making a nice income every month.
In his blog about Forex Trading Strategies, he will be sharing with you how he achieve that in the simplest way possible.
Visit his Forex blog here: http://www.forextradingempire.com
Article Source: [http://EzineArticles.com/?Forex-Trading-Tips---Why-it-is-Bad-For-You-to-Aim-For-Small-Forex-Profits-(10-15-Pips)?&id=4004779] Forex Trading Tips - Why it is Bad For You to Aim For Small Forex Profits (10-15 Pips)?
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