How to avoid typical pitfalls and start making more money in your forex trading - forex trading daily news

How to avoid typical pitfalls and start making more money in your forex trading ~ forex trading daily news

Fiorenzo Fontana, a trader and analyst at UBS wrote a very interesting article containing a lot of tips on how to avoid typical pitfalls and start making more money in forex trading.

All of his tips are very interesting and useful. Some of the less known are as follows:

• Trade pairs, not currencies
• Dont place very tight orders
• Use reasonable stop losses
• Increase your leverage in line with your experience and success
• Dont trade during off peak hours
• The best time to trade is when news is released
• If you place a trade and its not working out for you, get out
• Trade in the direction the price is going
• Learn the business before you trade - possibly the most important tip!

In the second part of the article, Fiorenzo gives a number of interesting tips relating to traders behavior and psychology. Again, some of the less known are:

• Focus on your current position(s) and place reasonable stop losses at the time you do the trade
• Focus on one cross at a time
• Dont trust demos - demo trading often causes new traders to learn bad habits. Once you know how your brokers system works, start trading small amounts and only take the risk you can afford to win or lose (new traders - remember that!)
• Stick to your strategy and invest profits on the next trade that matches your long-term goals
• Dont trade if you are bored, unsure or reacting on a whim
• Read forums, blogs and chats around the net to get an unbiased opinion before you choose your broker

Arent those tips good? Not too often such good pieces of advice are being given for free... You can read here all tips by Firenzo Fontana on how to avoid the pitfalls and start making more money in your forex trading.

Stan

Technorati tags: forex, forex trading, forex system, forex strategy
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Is VIPortal blacklisting its clients from its official facebook page - forex demo trading competition 2013

Is VIPortal blacklisting its clients from its official facebook page ~ forex demo trading competition 2013

The situation at VIPortal Incorporated seems to be getting fluid by the day. It is now emerging that any client who posts on their facebook page asking when they are getting paid is blacklisted from the page right away. The following post was left on VIPortal’s facebook page by a man who this blogger can only conclude was frustrated not as a result of losing his money, but out of failure by VIPortal to communicate with them when it matters most. Shujaa Karanja Muchai’s parting short to VIPortal can be summed up as follows; WE MADE YOU! Read the post below and be the judge.

Communication is very important. Partners in a venture discuss problems and seek solutions together a policy not within your institution. We have come there to offer solutions not once but it falls on deaf ears. Viportal is getting better, yet we have not been promptly paid of late as it was before. People like us who had trust with you right from the word go have become suspicious of the current trend. We read from unreliable links online that the problem is the government. If true, why not call investors and seek solutions together? Information is power, and the route that this situation is taking might and for sure will impact negatively very soon. A few months ago we were friends. When explaining to us we laughed. Some of us have turned foe and have been blacklisted, well that is fine. What would you expect of a person who waits for their money in vain with no concrete information? Why hide a cancer from a person who really was a friend? Pride comes before a fall. We have been in government and anything can happen, don’t be over confident. How much would it cost to call an investors meeting in bunches and explain the hitches. Viportal is suffering from a very small problem, lack of professionalism and insincerity. If truly the problem is the government, call us and we shall give you a solution that will not last three weeks. That I tol
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