Forex Trading A Good Way To Learn How To Win - forex trading apprenticeships london

Forex Trading A Good Way To Learn How To Win ~ forex trading apprenticeships london

Forex Trading - A Good Way To Learn How To Win

Online Forex trading is very popular now that most people have access to a computer and the internet. Technology advances like the internet and broadband access have spawned this new craze, where anyone with a secure internet connection can prepare him/herself to gain a small amount of training with the hopes of big profits down the road. As a Forex trader your goal will be to attempt to make more profits than losses from the fluctuations of exchange rates between currencies in the Forex market; in short, this is what is called Forex trading

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The Best Trading Strategy for forex - forex news trading bot

The Best Trading Strategy for forex ~ forex news trading bot

The best trading strategy for forex should become the next important thing you must learn if you agree to invest your money in forex. You can’t play with your own money or just gambling in this market, because you can get higher risks about it. Just like everything in this world, you should have enough plan, preparation and strategy before you want to take a real action. If you just use your imaginary or take random acts, you can get bad result or maybe even the worst result you will regret. 

Before we talk about trading strategy for forex and how to take the best way, let’s talk about forex itself. What is forex? For beginners or people who don’t really have a clue about money investment and trading, forex is only a strange name. But more than that, forex is so important and actually take a role in our every days life. Forex is the largest financial market on earth, often known as foreign exchange market, where you can potentially make profit from the movement of trading market. Nowadays, forex market is not only full with traders or money investors but also ordinary people in ordinary life. Yes, everyone can join forex market as long as they have money and strategy to make the great result. 

Now let me just tell you about the best trading strategy for forex :

Because forex market involves significant risks and fatal result for people with no strategies, that’s why you should prepare the best plan and strategy when you want to be involved in Forex trading market. With great strategy about trading, sure you will get the best result that may change your life forever. Remember that George Soros ever made a billion dollars in a day by trading currencies. That’s one perfect example about how smart and great strategy for forex can improve the best result you will get. 

In the very first time, make sure you learn about basic knowledges about trading market before you try or challenge yourself in real trading acts. It’s also one of the best strategies to try small investment with small amounts of money for forex market. Because forex is accessible and not only for high-class, you don’t need a lot of money to get started in this business. If you worry about the higher risks, invest small amounts of money can be your best option.

Not only that, try to take trading demos to practive and improve your skill in trading market. It’s not only a perfect place to know and learn the basics but can be the best way to practice your strategy in forex trading market.

another forex strategy

• The Three Ways of the Best Forex Trading Strategies for Beginners

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BEST BROKER TO TRADE WITH - forex trading education in marathi

BEST BROKER TO TRADE WITH ~ forex trading education in marathi

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FOREX TRADING 101 CONTD - forex news trading techniques

FOREX TRADING 101 CONTD ~ forex news trading techniques

in my last posting, I promised to provide answers to some questions. To do this, I will first make an attempt to provide an insight into the reasons why most traders, failed with live accounts. These reasons are: a) Lack of knowledge or understanding of the forex market: Majority of new traders jumped into forex trading without adequate knowledge of how the market works. And it well-known fact that people perish for lack of knowledge. Such traders jumped into forex trading without being equipped with adequate knowledge on how the market works and ended up being swallowed within an instant. If you don’t have enough knowledge on how the market work, never open a live account or only open micro accounts with less that 1o% of the amount you wish to trade with. b) Most new traders think forex market in an avenue to get-rich quickly:Most new traders including this author are attracted to forex because of the misinformation that forex trading is an avenue to make quick money and the ultimate solutions to your financial worries. In fact, I was actually attracted to forex by the information that I can make between 10-30% of my account within 24 hours. How wrong I was! I started trading with the mindset to double my accounts every month. To achieve my target, I overtraded by opening many positions at the same time and whenever the market is in my favour, the reward is usually mind boggling. However, whenever the market turn against me, the consequence are usually disastrous. Most times, after increasing my account by 60% over two weeks or three weeks period, I often ended up blowing such accounts within two to three hours when the tide turned against me. The lesson is you should aim at realistic returns on your investments and increase your returns over time as you acquire knowledge, experience and expertise. c) Under-capitalisation: Most new traders started trader with gross under-capitalisation and ended up being annihilated within seconds. Most people starting with ridiculous low amount of between $100-$500 and expect to turn it into millions within months. How ridiculous! In a market where $1.5 trillion dollars are traded on a daily basis, majority of the traders are small flies capable of being crushed in milliseconds. Forex is business and should be treated as such. My advice is if you don’t have enough capital to start trading, don’t ever dream of opening a live account. The fact that you don’t have capital should not discourage you. For a start you can build your trading capital over time while acquiring skills through demo trading. If you have less than $1,000, don’t ever dream of trading live. d) Lack of trading plan: Most new traders enter trade without adequate trading plan or no plan at all. Such trading is akin to crossing a twenty-lane highway with your eyes close. For such a pedestrian, death is a sure certainty. Plan your trade to the last detail before your entry. Your plan should include, entry point, expected profit and exit point and retreat strategy (stop loss) if things go against you. Stick to this plan because it is your only chance of survival in this high risk endeavour. e) It is not compulsory that you must enter any trade:Most new traders never want to miss any opportunity. No trade opportunity is compulsory as there are many more trade opportunities by the corner. f) Be very sure of the direction of the market before you enter a trade Most inexperienced traders believe that they can predict or anticipate the direction of the market end enter a trade with such erroneous belief. This is usually not the case. Most of them are often fooled by what sideways movements. For moving averages, look for sharp angles and an obvious degree of separation between the two lines to determine upward and downward trend. Once this separation is obvious and a few candles have opened higher than the previous (lower than the previous in the case of a downwards trend) the market has shown its true colors. At this point, you should be looking to pull the trigger. g) Profit should never be your main motive principle Most new and inexperienced traders go into trading thinking that they could begin to make profit instantly. The fact of the matter is that most businesses do not begin to make profit until their fifth anniversary. Furthermore, most financial investments would be rated 1st class if they are able to return between 10-20% annually. In spite of these obvious facts, most traders think they can achieve a return of between 30-100% on a monthly basis. In other to achieve their unrealistic target they gamble away money and ended up being losers. The forex graveyard is full of greedy traders. Please don’t be part of the casuality. Your profit target should be realistic. If you are able to achieve a return of between 2-5% on a monthly basis, you would have outperformed most blue chips investment outfits in the world. As a new trader, fund preservation should be your number first priority and profit distance second. Once you acquire experience, making profit will come naturally. h) Cut your losses and live to fight another day Most new traders hate losing money by closing loosing trades. They often leave such with the expectation that the market will turn around in their favour. The resultant effect is that 40 pips ended ground to 100, 200, 200 and perhaps 1000 pips. The main message is cut your losses and live to fight another day! i) Psychological deficiencies Majority of new traders are psychologically deficient to handle trading live trading. Their trading is guided by inadequate knowledge, greed, desires to get rich quickly amongst others which are perfect recipes for disaster. As a new trader, make your trading as mechanical as possible because you definitely lack the psychological control to handle live trading. Live trading is high pressure game and is not meant for the inexperience and faint-hearted. In my next post I will address how to be a successful trade. Happy reading!

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Can forex trading be taught - trader forex compte demo

Can forex trading be taught ~ trader forex compte demo

This article will not be received well within some quarters. For every forex beginner that reads this, an online forex tutor loses a market. Of course I don’t expect the article to spark the rise of some kind of white handkerchief movement for the recognition of the efforts of the forex tutors. But I do expect some unpleasant emails. Let me begin by noting that it is
possible to learn without going to school. Ever heard of being home schooled? You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 
Forex can be taught, but only by a gifted few. So far I know only of four real forex tutors. One is Australian, the other three are American. I speak not as a graduate of any of their schools, but as one who has watched their constant analysis of the markets and seen the results of believing in their brand of the forex gospel. New forex traders fall hook, line and sinker for any individual claiming to be knowledgeable about how the forex market operates. If you are not scammed, you will probably get a raw deal. Just because an individual trades successfully does not translate to him being a great tutor. Take for instance your teachers all through your schooling life. Were you never beholden to their knowledge of the subject they taught or lectured? Yet why did your English teacher never publish a great novel, or why did your science lecturer never enroll into a flying school? Most people that score first class grades are not necessarily great teachers. That is why they end up in professions that do not require imparting back knowledge. The point I am tring to put across is that not all successful forex traders can be good forex tutors.

Forex can be taught, but there is no school of accreditation to ensure that you are under the best tutor. There is no syllabus. Only America has a University offering an undergraduate course in forex trading. There are no weekly assessments or end of course exams to test the student on the knowledge acquired. That means that the trading knowledge you acquire as a forex student depends on the whims of your tutor. He will not teach you everything he knows and you will not be in a position to figure out what he has left out because of the lack of source of reference.

Forex can be taught, but it is much wiser to figure it out on your own. Trust me when I say that it is a lot easier and fun figuring it out on your own. A lot of forex tutors divide their courses into beginning level, middle level and advanced level. Most beginners pay more for the advanced level for the only reason that it sounds a little complicated. A lot of that stuff that your tutor calls advanced is actually freely downloadable from a site he will never let you know but one which is always closer to your search engine results. But what even surprises me is when a forex beginner chooses to pay for the beginner level. Type the phrase ‘forex 101’ to any search engine and in a few minutes you will have dozens of materials that are all you need for the so called beginner level. Just analyze the charts on daily basis and in months you will have developed your trading strategy. That is, something that lets you know why to enter a trade, when to enter a trade and why to exit a trade. Back test the strategy and you will be surprised to discover that on average it works well at 70%. You do not need a percentage greater than that to be a profitable trader.

Forex can be taught, but the discipline of trading can never be taught. The forex tutor will rarely stress on the need to keep your emotions on check or on the dictates of money management. Without those two you are headed for a nasty period as a forex trader. Money management in itself is not what many forex beginners want to learn. Most are interested in knowing what the different candlesticks mean and how to execute a trader on the Meta trader 4. That lack of interest, coupled by the fact that the discipline of trading is not something that can be taught even by the most qualified forex tutor, implies that no forex student ever reincarnates into a good trader soon after taking the course. Only you can learn how to control emotions that come about as a result of live trading because you understand the source of your investment and your risk tolerance level. They will teach you the candlesticks but they will never instill the discipline of trading in you.

Forex can be taught, but it instills a sense of false self confidence. Completing a forex course does not mean you will make money on your first trade. Yet is it not true that most forex beginners expect just that? The forex tutorials only serve to nurture false hope and magnify expectations into the realm of the impossible. You paid for a 500 dollar course but you are yet to make even 10 dollars on a single trade? I am not surprised. And you have probably lost more capital because the course you took encouraged you to put more money into your trading account certain that you would double it in a week. Now you must learn that the course you took was only preparatory to the real world of live trading.

Dear aspiring traders, no one has your interest at heart. Your forex tutor is just another businessman. If you are lucky you will pick a thing or two from his tutorials. But you could have gained much more had you chattered the path that most successful forex traders have taken for decades- self tutorials. Ignorance is defeated only through knowledge. The internet age has ensured that no matter where we are, we can always challenge and improve ourselves with the freely available material on the thousands of sites.

You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 

Call us today on 0725 050 419 for the best forex trading orientation.

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500 Pips Trade set up - forex trading latest news

500 Pips Trade set up ~ forex trading latest news

Welcome to a new trading year - 2011. What I will be discussing this year is taking our trade to higher levels. Looking for those highly profitable set up for the major pairs. This first posting will be on the GBPUSD. The principle are simple as follows:

1. We rely of the weekly chart for the overall direction
2. The daily chart determines whether to buy or sell
3. H4 or M15 for excellent entry.

Based on the above analysis, here is the set up for a potential 500+ pips trade based on Head & Shoulder on the weekly .

a) The weekly trend is up
b) The daily RSI is getting close to 70 RSI and currently withing a possible left shoulder of Head & Shoulder on the weekly chart.
c) It took about 21 days from when the signal was given on the daily and roughly 750 pips so far.
d) The yellow area is where we are watching now. A daily open and close above 1.61140 area will invalidate our head & shoulder set-up. If this happens a second kiss of 1.63000 is possible to give us double top.

Until this happens our H&S is still valid. Furthermore the daily RSI is currently kissing 70 point mark. This means the cable is getting ripe for short. However, we need to see where the daily candle closes today.

If you are ready for a 500-pips or more trade, you can begin to short between 1.610000 - 1.630000 or the first reversal candle (bear candle on the daily). Everything is in the chart!

Enjoy your trading!
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Trading Strategy Explained - forex trading on news

Trading Strategy Explained ~ forex trading on news

Let me use this opportunity to explain and make some clarifications in respect of following aspects of my trading strategy.

a) Candle trades
b) Monthly chart
c) Weekly chart
d) Daily Chart
e) 4-Hour chart



Candle trades:

For the candle trades I use weekly and monthly candles and I have a micro account with Alpari which I use for these trades, because I am still experimenting. However, whenever a unique opportunity present and it aligns with my trade set in the charts, I replicate such trades on my main account. For the candle trades, I dont use RSI. I simply follow the candle, if the candle is bearish, I will go short and if the candle is bullish, I will go long. If you want to try this, open a separate micro account or even try it on a demo account over a period of time to properly understand it.





Long Term trades:



For long term trade, I follow the daily, weekly and monthly charts using RSI as a guide. The signals on these period are usually few, but of the best quality.



Monthly RSI gave a buy signal in March 2009 and over the next 4 months, price rose by about 3000 pips. The next signal was given in June 2010 and yield about 1800 pip. Using the monthly RSI, there is no signal to sell yet.



Weekly RSI gave six signals on the chart 3 buy and 3 sell as shown on the chart.



Daily RSI gave three signals so far, 1 buy and 2 sell as shown on the chart.



I attach herewith a daily, weekly and monthly charts for GBPUSD to illustrate the points. The place where the signals are given highlighted in blue boxes.



How do you interprete all these based on where we are today for your long term trade?



Monthly: The buy signal was given in June, if you miss it wait for another signal. Most importantly, dont trade in the middle of channel. You can get your trades on other timeframe.



Weekly: The weekly gave a buy in May and sell signal in August indicated by the spots highlighted. Price is currently on 50 points. Wait for another signal if you want to trade weekly long term.



Daily: The daily gave the sell signal in between August 2-4 and has currently cross the 50 point mark down. The next signal you should watch out for is buy. If you miss the signal in August, wait for the next one.



For a trader who missed all these signal for medium term, trade, what does he do?



If you miss all this signals, the next option is to trade intra-day using H4. The horizontal line on the RSI is your guide.



For a trader who misses all of these signals, what does he do?



The best option is to stay out on the sideline and wait for the next signal, because that is the only way to be a successful trader.



I took time to clearly enumerate the steps to show that is important for a trader to be methodical in his approach. If a set-up is not right, ignore such trades. To give you more trading opportunities, you can monitor between 2-4 majors and only trade the one that presents the best opportunity at any point in time.



Happy trading!
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BOJ Intervention JPY - forex flash news trader.mq4

BOJ Intervention JPY ~ forex flash news trader.mq4

The intervention by the Japenese Government was an extra-ordinary event. However, if your look closely at the two H4 charts below for GBBJPY and USDJPY you will clearly see that the H4 was on a bullish move, when the intervention occurred. H4 clearly explose the move so also the current retrace. USDJPY was even more exact to the point at the point of intervention and the retrace.
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Writing A Trading Plan - forex trading app for blackberry

Writing A Trading Plan ~ forex trading app for blackberry

Writing A Trading Plan

All professional traders have a trading plan. Trading futures is a zero sum game and those with a plan (and the discipline to apply it) will succeed over those that have no plan. A plan details the particular market anomaly that you intend to exploit - your edge. Human emotion creates anomalies - essentially, the fear and the greed of those that have no trading plan.

Creating a trading plan and rigidly applying that plan allows the professional trader to eliminate emotional responses from his trading.

Let’s look at what your written trading plan should cover:

Trading concept - What anomaly is your trading strategy intending to exploit?

Timeframe - The shorter the timeframe the more trades that can be made. However short term trading leads to lower reward: risk ratio’s and higher commission costs.

Instrument - There are many different ways to trade essentially the same idea - options, futures, exchange traded funds etc. Which offers the most reward for your trading concept?

Entry - How will you open your trade?

Exit - How will you close your trade - A stop loss should be placed at a point where the trading concept become invalid, this could be a specific price or a certain length of time. A profit exit must also be established - again either a certain target price or a timed exit.

Money Management - How much capital is required to trade the strategy and how much should be risked on each trade to maximize returns whilst minimizing the risk of blowing the account?

End of Day Routine - At the end of each day every trade should be compared to the trading plan and any variances should be addressed. Remember the plan is their for a reason and you must trade it exactly. If a change is required then it should be properly tested before being added to the plan. No decisions should be made whilst a trade is live.

Brokers - Which broker will you use and how will you trade? Automating a trading plan through the broker’s API will help to eliminate any emotional responses.

Your plan will require constant revision as the market dynamics change. If you have noticed a market anomaly then it’s very like that many of your competitors have as well.

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