Monday, June 09, 2008

best hyip forex Updates

Currency Forex Trading Systems-How Long Does It Takes For You To Become A Successful Forex Trader?

Most people approach the need to learn forex trading with a measure of trepidation or fear of the unknown. For those who are undergoing a period of self education and instruction by gathering relevant training materials and tools, and practising new skills in the comfort of home, one common question of the unknown would usually linger in their minds : "Would my self learning be sufficient to make me a successful forex trader?". For those who have chosen to learn under a mentor, a common question is this: "Will the mentor reveal all his secrets to me so that I, as the understudy, can trade successfully on my own?"

Indeed, when will a novice trader be able to know exactly the timing of his metamorphosis from a learner to a skilled trader, and so that he can proceed to trade on his own?

There are some who believe learning to forex trade is an effort that spans an entire life. This group of people believes that learning and education never stops. A forex trader reacts to the news, and to his setups, and trading is always different every day. To this group, learning is a lifelong process. They would look at their trades daily, analyse them to see what made certain trades work, and why certain trades were failures. In this manner, they are able to extract good lessons out of bad trades, and would become wiser, never to repeat these mistakes again.

The main difficulty for this group of new traders is finding the most appropiate time for them to say, " I have learnt enough, and it is time for me to go into the battle field and to fight the good fight of the faith. I will start to trade!"

Speaking from the viewpoint of a trading coach and a professional trader, here are two suggestions.

Firstly, maintain a trading log even when you are learning to trade. This trading log will serves as your trading diary in which you record all your trades, even during the times of learning which may involve your paper trading or your testing of certain forex trading strategies. Record your personal experiences - why a simulated trade was taken, what was the prescribed action you should take based on the trade setup, and what was the outcome. In this way, you will be able to document and record your experiences, and be able to gain a high degree of confidence from seeing repeated results from taking certain stipulated action arising from similar trade setups.

Secondly, you can adopt a cut-off point where you can start to trade on your own when after a period of paper trading, you find you are consistently having a higher win-loss ratio. In other words, when you find there are more winners than losers in your simulated trades and this is repeated consistently as recorded in your trading log or diary, you can consider moving out to trade on your own.

Needless to say, in whatever self study, it is of the greatest importance that you find the most effective trading strategies and systems, and master not only the trade setups, but also your trading psychology, and be able to pull the trigger to trade. Learn from real traders, who are able to pass on their skills to you. You are there to trade, and convert the head knowledge into real trading skills.

Peter Lim is a Certified Financial Planner. Learning to trade forex by following a course of self study based on the powerful secrets of price action strategies is never easier than NOW! Discover how to earn a 5 figure income by trading forex using 100% mechanical systems by visiting the author's blog at

Forex Currency Trading - Knowledge is the Key to Success

Today, the Forex market is the largest market in the world with more than 1.8 trillion dollars changing hands daily. With its attractive features like super liquidity, 24 hours market and better execution, it is also considered as one of the most striking and rewarding market. But is it very difficult to make money in the Forex market? Definitely not, provided you know all about Forex and currency trading.

In the Forex market, if you look at the performance graph of Forex brokers, you will see that some traders succeed while others fail to trade successfully. The main reason is lack of proper trading knowledge.

That means they are trading currencies but they don?t know all about Forex and currency trading. Therefore it is very important to know everything you can about Forex and currency trading before you start trading in the Forex market.

If you want to know more about Forex and currency trading, start with fundamental analysis and technical analysis. These are two major things that will help you to understand when the market will move up, what is the right time to buy or sell currency pairs, how to gain more profits and what are the currencies to be traded.

Fundamental analysis includes world news, studying variables like monetary and fiscal policy, political conditions, trade patterns, economic indicators, inflation rates, unemployment rates etc.

On the other hand, technical analysis involves computer charting, using trend lines, support and resistant levels, reversals and numerous patterns, and studying the behavior pattern of market crowds to track and identify buying and selling opportunities.

As you enter into the realm of knowing all about Forex and currency trading, you will have a good idea about the major currency pairs that are traded in the Forex market. Among all the traded currencies, currencies that are most liquid and often traded along with the US dollar are:

European Euro

Japanese Yen

British Pound

Swiss Franc

Canadian dollar

Aussie dollar

Generally the most commonly traded currencies are those of countries with stable governments, reputable banks and low inflation.

As you gradually come to gain knowledge, you will understand that your success rate will be high if you follow the Forex trading system. The system has its own discipline that it follows rigorously. The system will let you know what are the trades that have greater rate of success and will send signals accordingly.

The Forex market is global and it is a 24 hour market. You can access Forex market anytime; don?t worry if it is night at your place, it will be daytime in some other parts of the world and trade is ongoing over there. So if you know all about Forex and currency trading, you can easily use your online currency trading system and start trading.

The major dealer centers and time zones are that of Sydney, Tokyo, London and New York. However, since the markets are interconnected, if any events occur at any hour, in any part of the globe, the investment community gets affected instantly.

Trading successfully in the Forex market is not an easy task. However, if you know all about Forex and currency trading your success rate will be highly influenced.

Paul Bryan operates Forex Reviews, News and Advice - A site aimed at bringing you the best and most independent Foreign Exchange information and articles.

Forex Trading - The Secret of "Mr X" And His 5 Figure Income By Using Price Momentum

As a Certified Financial Planner, I have often been amazed with the specific trades that a client, whom I shall call "Mr X" places in the forex and stock markets. His calls are almost always winners, which means his trading signals are very accurate. He does not trade every day, because his trades are based on the trading setups that he obtains, which is around 3 or 4 times every month or averaging a signal a week. Most interesting of all, he is consistently one day earlier in deciding whether there is going to be a trading move or not. He is a trader who is always timely with his entry and exit, which is highly remarkable.

Needless to say, Mr X has been earning a 5 figure income from trading the forex market for years.

How does Mr X do it so consistently?

Firstly, he uses technical analysis and charting, and follow a trading concept called price momentum.

Price momentum dictates that when a currency breaks out in price, the momentum will carry it in the same direction, until it falters and the momentum decreases, and finally comes to a stop.

For Mr X, forex trading is a profitable game as he has perfected his entry and exit positions based on many years of trading experience in the direction of the price momentum.

Once a currency has broken out of a price level and has indicated that it will continue in the same direction, Mr X will just make a purchase position. Conversely, when he sees the price momentum dropping, and touch a certain level that he has determined prior to the occurrence, he would be selling.

In this way, setting a limit to the price momentum to ensure that it goes that direction and surpasses it, greatly enhances his profits, as this makes sure that he is not whiplashed. If the price momentum limit of a "X" number of pips is not exceeded, Mr X knows that the momentum is not strong enough to give him his profits, and he allows that signal to pass. This reduces his risk substantially, and sets him up for massive profits.

Most popular currencies are capable of large swings, swings that are explosive and are sharp several times a month, and when you adopt a price momentum method, you are well placed to capture these explosive price movements and reap massive profits.

There is of course a need to set a stop loss, because no trading system is foolproof. But when you do utilise a price momentum trading system, you will readily find forex trading to be largely profitable.

It is so profitable that Mr X adopts the same principles in trading stocks as well, and with similar results.

Indeed, trading price momentum can be your Forex Cash Cow Strategy. If you desire to see large profits in your trading, make price momentum a part of your trading arsenal. With the risk control limits in place, you can be like Mr X, raking in the profits consistently, month after month without a losing year.

To discover powerful professional trading secrets to help you create a 5 figure income trading forex in the comfort of your home, visit the author's website at

Best Forex Trading Education

A qualified day trader will concentrate on the trade entry points as well as on the trade exit points. Market professionals have the same opinion that instability is unquestionably a plus for the day-trader. As the prices go up and down, the Forex day trader should be watchful as to when to sell his cash, stocks and currency or wait for the moment to hold on it.

Do not trust advertising claims that promise fast and guaranteed profits from day trading. As a trader you will most likely fall into two most important categories - traders who like to trade the breakout and traders who like to enter the trend once established. Not all stocks are appropriate for Forex day trading.

A beginner day trader should typically have day trading capital of at least $20,000 to begin, so this is not a business to embark on lightly. People who carry out day trading typically stay glued in front of their computer and watching which stocks have a quick turnover. If you are afraid that you will lose money, then maybe Forex day trading is not for you.

Expert day traders recognize that lots of their trades will fail to meet the initial goal. People who try to day trade without knowledge of market basics frequently end up losing money.

Can Forex day trading be learned? Day trading is equal to gambling and a number of brokerage houses have been responsible for exaggerating that day trading is safe and risk-free.

There are two keys to constantly profitable day trading: one is having lots of various trades available. You should put into practice your day trading using a simulated trading system before using real money.

The second key is that you need education in Forex trading. You must first learn how to trade Forex.

If you are interested in joining the millions who are making money in the Forex markets, you should read more about the best Forex trading education. You will discover the secrets of the big dogs. Learn Forex currency trading online.


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