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Forex Education – Getting the Right Education to Win

January 9, 2011 By

Forex Education – Getting the Right Education to Win

If you want to win at FOREX trading you need the right education. The fact is 95% of novice traders lose all their equity quickly, that’s not because they don’t work hard or can’t win – they simply put their efforts in the wrong area.

Let’s look at how to achieve currency trading success by learning forex trading the right way.

Use the Internet

You can get all the Forex education you need for free on the net, you simply have to look in the right areas, which we will explain in more detail in a moment.

A fatal mistake

Is to think you can buy success from a guru or mentor on the net.

Most of the information sold is junk or available free anyway.

Many traders are duped by attractive advertising copy, claiming that you can make huge regular profits by buying an e-book for 0 or so, but the reality is:

If the information was so good it would not be sold; these vendors would simply trade for themselves and the fact is they don’t.

They make money from selling you forex education NOT trading and their forex trading systems simply don’t work.

If you can find a trader with a real time track record of profits, their information may be worthwhile, but trust me, there are not many who can provide this.

The best way is to do it on your own and you can get it all the Forex Education you need for free.

Working smart not hard

Trading is very different to many other ventures in life, in that the effort you put in has no relation to the money you make.

You get paid for getting market direction right not how much effort you put in.

You should as beginner either start with long term trend following strategy or try swing trading – NEVER attempt day trading.

Forex day trading simply doesn’t work, as the data is to short to be reliable and is meaningless.

More novice traders start with forex day trading than any other method and they lose – don’t fall into this trap.

Long term trend following suits the patient trader, while forex swing trading suits the trader who likes to trade a bit more and is less patient.

Basics

To start get an understanding of support of resistance and technical analysis.

Next, you need to integrate a few indicators to confirm price momentum into support and resistance levels and see the odds of them holding.

Below find some indicators that are great for triggering forex trading signals and determing price momentum:

Stochastics, Relative Strength Index (RSI), Average Directional Movement (ADX)

Below find some indicators to determine help you spot support and resistance (in addition to trendlines) and determine targets and strength of the trend.

Bollinger Bands, MACD and moving averages.

If you learn about all the above indicators, support and resistance and also how a breakout strategy works, you will have ALL the forex education you need.

This will help you put together a simple, robust currency trading system, that can make fx profits.

When devising a forex trading strategy the above will help you make money in swing trading or trend following and you should spend no more than 30 minutes a day.

A Simple way to Forex Profits

A simple system also works better than a complicated one, as its more robust in real trading, with fewer elements to break.

Many traders over complicate their system and think more is better, but the reverse is true.

Final Words

The above will get you started with your forex education for currency trading success and you will have the basics to build on to make great regular profits from forex trading in under an hour a day.

Finally, you wont have spent a cent finding out the basics for this success – good luck!

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On all aspects of becoming a profitable trader including features, downloads and some critical FREE Trader PDF’s and more FREE Forex Education visit our website at http://www.net-planet.org/index.html


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Best Forex Broker Forum – 3 Tips of Getting a Good Forex Broker?

December 13, 2010 By

Best Forex Broker Forum – 3 Tips of Getting a Good Forex Broker?

Best Forex Broker Forum

In the forex industry, there are thousands of brokers. But if you search through the internet, you can basically find a lot of forex brokers. But finding a good forex broker is not easy and I will be giving more tips regarding the forex broker.

The first tips in finding a good forex broker, is the pip spread. Choosing a forex broker which can offer tight pips spread can give you a better earning. If the pips spread difference is too large, and then is much harder for forex trader to get their profit target. Take an example; we place a sell trade, so we anticipate the market to move downwards. But in order to get our profit target, we need to add on the pip spread in the calculation so that we can reach the target profit. The formula will be something like this 100pips (target profit) + 10pips (pips spread) = 110 pips.

The second’s tips of getting a good broker are the leverage. If the broker offers you a leverage of 1:50 this is consider a very high leverage. Normally for a beginner, is better to get a leverage of 1:200 or sometimes you may get some broker which offer you 1:400. The reason for beginner to get a 1:200 leverage is because you can use a little of your capital, but you can able to control more units. Best Forex Broker Forum

The third tips to get a good forex broker, is a good forex broker background. A good broker must be at least regulated in their country. A non regulated forex broker can be also known as illegal broker. This illegal broker had no rights at all to open an account for you. For example, in Malaysia it is illegal for people to collect money from others and trade for them. They call them self as a broker but it is illegal. Lately Malaysia government has brought out this matter in the newspaper. As this is a serious matter as many people had been conned by this illegal broker.

So I believe that I had given you some tips on how to get a good forex broker. But bear in mind that you need to try to search more brokers and try it out with live account. This is because you never try, you never experienced what actually they give to you. You can also try to go some forum to get more feeds back on the broker that you had chosen. Best Forex Broker Forum

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Learning the Ropes of Forex Trading and Getting Ahead of the Game Early On — ForexTutor.us Special Report (Forex Trading Strategies)

October 25, 2010 By

Learning the Ropes of Forex Trading and Getting Ahead of the Game Early On — ForexTutor.us Special Report (Forex Trading Strategies)

*** A ForexTutor.us Special Report ***

Is foreign exchange trading a true get rich quick scheme? Foreign exchange trading, or Forex, is a real opportunity to get extremely wealthy in a very short amount of time. How?

The key is leverage.

Some Forex brokers allow you a leverage ratio of 200:1. That is the equivalent of investing ,000 into a 0,000 asset, and an asset that you could turn around and trade within seconds for a quick profit if done correctly!

Forex

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Tips For Getting The Best Forex Exchange Software

October 13, 2010 By

Tips For Getting The Best Forex Exchange Software

Forex exchange software can get you the boost that you want out of the forex market. This technology will carry out every aspect of forex trading on your behalf so that you don’t have to have a great deal of experience to make the kind of money that you want from it. With well more than a quarter of all traders currently using forex exchange software, the major issue remaining is how to spot the best, so here are 5 tips for getting the best software on the market today.

Investing in penny stocks provides traders with the opportunity to dramatically increase their profits, however, it also provides an equal opportunity to lose your trading capital quickly. These 5 tips will help you lower the risk of one of the riskiest investment vehicles.

1. Penny Stocks are a penny for a reason.
While we all dream about investing in the next Microsoft or the next Home Depot, the truth is, the odds of you finding that once in a decade success story are slim. These companies are either starting out and purchased a shell company because it was cheaper than an IPO, or they simply do not have a business plan compelling enough to justify investment banker’s money for an IPO. This doesn’t make them a bad investment, but it should make you be realistic about the kind of company that you are investing in.

2. Trading Volumes
Look for a consistent high volume of shares being traded. Looking at the average volume can be misleading. If ABC trades 1 million shares today, and doesn’t trade for the rest of the week, the daily average will appear to be 200 000 shares. In order to get in and out at an acceptable rate of return, you need consistent volume. Also look at the number of trades per day. Is it 1 insider selling or buying? Liquidity should be the first thing to look at. If there is no volume, you will end up holding “dead money”, where the only way of selling shares is to dump at the bid, which will put more selling pressure, resulting in an even lower sell price.

3. Does the company know how to make a profit?
While its not unusual to see a start up company run at a loss, its important to look at why they are losing money. Is it manageable? Will they have to seek further financing (resulting in dilution of your shares) or will they have to seek a joint partnership that favors the other company?

If your company knows how to make a profit, the company can use that money to grow their business, which increases shareholder value. You have to do some research to find these companies, but when you do, you lower the risk of a loss of your capital, and increase the odds of a much higher return.

4. Have an entry and exit plan – and stick to it.
Penny stocks are volitile. They will quickly move up, and move down just as quickly. Remember, if you buy a stock at .10 and sell it at .12, that represents a 20% return on your investment. A 2 cent decline leaves you with a 20% loss. Many stocks trade in this range on a daily basis. If your investment capital is 000, a 20% loss is a 00 loss. Do this 5 times and you’re out of money. Keep your stops close. If you get stopped out, move on to the next opportunity. The market is telling you something, and whether you want to admit it or not, its usually best to listen.

If your plan was to sell at .12 and it jumps to .13, either take the 30% gain, or better still, place your stop at .12. Lock in your profits while not capping the upside potential.

5. How did you find out about the stock?
Most people find out about penny stocks through a mailing list. There are many excellent penny stock newsletters, however, there are just as many who are pumping and dumping. They, along with insiders, will load up on shares, then begin to pump the company to unsuspecting newsletter subscribers. These subscribers buy while insiders are selling. Guess who wins here.

Not all newsletters are bad. Having worked in the industry for the last 8 years, I have seen my share of unscrupulous companies and promoters. Some are paid in shares, sometimes in restricted shares (an agreement whereby the shares cannot be sold for a predetermined period of time), others in cash.

How to spot the good companies from the bad? Simply subscribe, and track the investments. Was there a legitimate opportunity to make money? Do they have a track record of providing subscribers with great opportunities?  You’ll start to notice quickly if you have subscribed to a good newsletter or not.

One other tip I would offer to you is not to invest more than 20% of your overall portfolio in penny stocks. You are investing to make money and preserve capital to fight another battle. If you put too much of your capital at risk, you increase the odds of losing your capital. If that 20% grows, you’ll have more than enough money to make a healthy rate of return. Penny stocks are risky to begin with, why put your money more at risk?

Oli works full time as a Market Analyst.He graduated in Management.He can help you to grow your computer consulting. For more on teaching and education, be sure to check out the website. Involved in FREE advertisement for all kind of online businesses. Everyone needs business exposure. There’s FREE advertising gift for your business.

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Getting Started in Currency Trading: Winning in Today’s Forex Market (Getting Started In…..)

October 9, 2010 By

Getting Started in Currency Trading: Winning in Today’s Forex Market (Getting Started In…..)

An accessible introduction to trading currencies While the Foreign Exchange (Forex) market can be a very profitable place, you must have a firm understanding of how to operate within this environment if you intend on achieving any success. That’s why you need Getting Started in Currency Trading, Third Edition. This reliable resource-written for both newcomers and those with some Forex experience-puts trading world currencies in perspective, and shows you exactly what it takes to ma

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Getting Used To Forex Hours

August 19, 2010 By

Getting Used To Forex Hours

What do you think Forex hours are like? When it comes to foreign exchange, you deal with the different world currencies. You pick a pair of currencies to buy or sell, depending on the value of each of the currencies at a given moment. So, being an international transaction, it is no wonder that Forex hours are unlimited. In other words, foreign exchange is a 24-hour market. If you find the right medium, you can transact at all hours.

Best Trading Hours

While foreign exchange goes on for 24 hours a day, this does not mean that you will not sleep. There are peak hours for trading that you must follow. Take note of these hours to preserve your sanity and increase your profitability. Trade when there are more active accounts. This will provide more chances for positive changes. So, the chance to gain more profit becomes higher. Of course, be more wary because the chance to lose is also higher. If you are trading two major currencies, such as the US dollar and the UK pound for example, find common active hours for the US and UK markets.

The Main Markets

There are four main Forex markets: London, New York, Sydney and Tokyo. London trades from 3am to 12 noon while New York trades from 8 am to 5 pm.  Sydney trades from 5 pm to 2 am while Tokyo trades from 7 pm to 4 am. If the hours seem strange to you, that is because all the times shown are in Eastern Time.

How I Got 82% Gains In The Forex Market In Less Than 10 Months. Visit http://forex-hours.com to find the answer…

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Forex Education – Getting the Right Education for Success Part 1

July 31, 2010 By

Forex Education – Getting the Right Education for Success Part 1

Consider this fact:

Despite the vast amount of FOREX education available, the bulk of traders still lose.

The reason for this is most of the accepted wisdom does not work.

Here we will look at the FOREX education you need and a simple system that’s FREE That can make you big consistent profits.

Before we start looking at FOREX education itself, lets look at the equations you need to be successful trading FOREX.

Equation for success 1

Robust Method + Confidence + Discipline = Long term currency success.

Now, when you trade you need a method that’s simple and you understand.

Why?

Because if you want to make money trading you are going to have short term losses and you need to the discipline to follow your method when these occur.

If you don’t you will not have a method at all.

Many traders FOREX Education involves following systems they don’t understand or gurus and they simply can’t stick with them and fail.

Equation for success 2

Your method needs to have the following characteristics:

Liquidate losers quickly + Run Profits

Obvious one, but today people receive FOREX education that teaches them to trade short term and even worse day trade.

We have written about this in our other articles and it’s a waste of time. You won’t win, it will just be expensive FOREX education!

Why?

Because, the time frame is to short and moves are random.

You may have profits but you can’t run them in a day and they can never cover your inevitable losses and high transaction costs you accumulate.

Avoid FOREX Education that teaches you short term trading unless you like losing your money

The Education You Need

Most of the education is free and on the net.

FOREX Education you don’t need

There are of course many e-books and courses but most of these are worthless ( only buy one which has a real track record and the seller is a trader ) and there are few of these around.

In part 2 of this article we will cover a system you can learn yourself that is used by many of the worlds top traders and it’s simple to apply and understand.

Learn this fact

There is no correlation between how complicated a method and how successful it is.

In fact, the opposite is true, the more complicated a system is the more likely it is to break in the face of ever changing brutal market conditions.

Finally, as we have said you need to understand how your method works (this is easier with a simple system) as you need confidence to follow it with iron discipline to eventual currency trading success.

Reading

The only material we recommend you buy is classic works by traders who have been at the sharp end and here are some good ones

Market Wizards & The New Market Wizards – Jack schwager

Great books!

Full of inspiration, as the top traders in the world share their wisdom on how they made millions or even billions trading FOREX and other markets

Anything By Jake Bernstein

Focuses on the importance of discipline and mental attitude a key to success.

Trader Vic – Vic Sperandeo

Perhaps my favourite book of all. Packed with common sense from cover to cover from one of the true great traders.

They will cost you about .00 and that’s money well spent for the type of FOREX Education they give.

A system for profit

In part 2 of this article your FOREX education will continue, when we start looking at a specific method that you can apply for bigger FOREX profits and currency trading success.

MORE FREE TRADING INFO ARTICLES PDF’S & COURSES


On all aspects of becoming a profitable trader including info about legendary trader W D Gann who made a million fortune trading go to our website for an exclusive Gann Trading Course visit our website at http://www.net-planet.org/index.html

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Getting Started in Currency Trading: Winning in Today’s Forex Market

July 28, 2010 By

Getting Started in Currency Trading: Winning in Today’s Forex Market

An accessible introduction to trading currenciesWhile the Foreign Exchange (Forex) market can be a very profitable place, you must have a firm understanding of how to operate within this environment if you intend on achieving any success.That’s why you need Getting Started in Currency Trading, Third Edition. This reliable resource-written for both newcomers and those with some Forex experience-puts trading world currencies in perspective, and shows you exactly what it takes to make it in this fi

List Price: $ 19.95

Price:

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Forex Education – 4 Tips for Getting the Best Education to Win

July 6, 2010 By Leave a Comment

Forex Education – 4 Tips for Getting the Best Education to Win

Forex trading looks simple yet few succeed – 95% of new traders lose their money and only 5% win. This may seem an odd fact when anyone has the potential to learn forex trading.

The answer is most traders simply learn the wrong forex education and this article will give 4 tips to get the right education and win.

Firstly the growth of the internet has led to a lot more information becoming available to forex traders and some of it is very good – but most of it is junk and will simply ensure you lose and this leads us to our first tip.

1. Be wary of vendors selling education on the net

Most of them make me laugh for 0 or so I can get a system to make me regular profits every day, trade with 80% accuracy or even make me a millionaire – all for a few hundred dollars!

Don’t buy them – they won’t help your forex education.

There simply marketing guys not traders – if they were, they would shut up and trade for themselves, if making money was as easy as they say they wouldn’t need me or you.

2. Don’t learn the wrong Knowledge!

There are many myths that have been perpetrated on the net mostly by vendors and let’s start with the biggest one – forex day trading works.

No it doesn’t, day traders don’t make money – period

All short term volatility is random, so it can’t – that’s why you never see a day trader with a real time track record of profits.

Scientific theories are a great way to make money, another stupid myth.

If markets moved to scientific theory, we would all know the price in advance and there would be no market, yet new traders still learn junk theories like Elliot wave and Fibonacci numbers, lose and wonder why.

3. Get Knowledge from the real pro’s

You can do this simply by going to Amazon.com and you can get some really good forex education from traders who have walked the walk, rather than simply talk the talk.

For about 0 or so you can get some great advice (see our top 10 books for traders) and get them. They will inspire you and give you a good solid grounding in what it takes to be a successful forex trader.

This is an investment in your forex education that is well worth the money.

4. Work Smart Not Hard

Forex education involves working smart not hard and learning the right knowledge.

If you want to learn forex trading ALL that you need to build a successful system is available free on the net.

See our other articles, there is some great information on technical analysis, formations and indicators and it’s all free.

You don’t get rewarded for the effort you put into forex trading you get your reward from being right with your forex signals – nothing else. All you need to do is get the right info and you can become a successful trader.

CONSIDER THIS FACT

In 1983 Legendary trader Richard Dennis to prove that traders could be taught took 23 traders with no trading experience and taught them to trade in 14 days.

These traders went on to make Dennis 0 million dollars! The story is told in “The way of the turtle” and also Market Wizards – Get these books and you will see that Dennis made them focus on the RIGHT education to win with no filler.

Now you may not make as much money as the turtles but anyone can learn to trade and learn to win if they focus on the right education – you just need to find it digest it, apply it and hopefully this article will have pointed you in the right direction – Good luck.

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