May 15

The forex foreign exchange market is an exciting place for people that want to have a home business. There are over three trillion dollars a day in trades, making this the largest market on the planet. There is no need to get overwhelmed, nor is there a need to worry about having to compete with people. All you’re trying to do in this business is predict the direction of currency, nothing more.

Brokers

A broker is a business that is going to hold your money for trading. It can trade for you, or the more common, they’ll give you a trading platform to make your own trades. The problem that many face is that a good broker requires time to research. The internet makes it very easy for people to launch a website, so you can never tell if a broker is a multi-million dollar business or something a teenager created in their parents basement.

The best way to find a good broker, is to goto the communities where people are constantly talking about it. Forex Forums! The reason I suggest forums, is because this business is constantly evolving and changing. I could easily tell you which ones are good, but things change. I want to give you timeless information.  If you need some example forums, you can try the Forex Factory or Forex TSD. The reason forums are great is that daily traders are on there and often if they have a problem with a broker, they’ll post a message. You’ll hear about all the horror stories, and you’ll often hear about the brokers that are great.

Don’t Be Indecisive

Indecisiveness comes from a lack of confidence in your decision making. You’ll notice when you first start out, you’re going to be very indecisive. You’ll make trades and immediately want to get out of it. But this can be very detrimental thinking. To learn, you need to experience trades, even if they’re bad. I recommend staying with trades.

That isn’t a way of saying go down with the ship. Losses can be devastating.  There is a difference between a losing trade and a loss in a trade. Losing trades need to be dumped. You need to cut your losses, but you can’t be dumping every trade that makes any downward movement. The best piece of advice I can tell you for this, would be to set an objective loss point before you make the trade. Basically, all you say to yourself is “if it falls to this point, I’m selling.” Easy.

This if my forex foreign exchange market advice to help you become a better trader.

May 14

My global currency trading advice is something you should try to apply on a daily basis over the long term. This market exciting to most people with the extremely high volume of trades done daily. Take advantage of what you can and make some nice profits.

Demo Accounts

The demo account that comes with your trading platform (like Forex Killer), allow you to make trades while watching real live data without using any money. Technically no trades are happening, but you’re still using the market data and experiencing trades that are practically real. Take full advantage of this because it is the best way to learn. There aren’t too many businesses where you can practice hundreds of times without risking any of your own money. Always feel confident about certain techniques and strategies before you start using your own money.

Avoid Small Margins

This can seem almost counter intuitive for global currency trading advice. It is natural for all new traders to want to start small. The smaller your trades are, the less you’re risking. The problem comes from the broker’s side. The broker is going to get a cut for every trade. It’s in a money making business as well, and it’s not providing you the ability to make live trades for free. Whether you make a profitable trade or an unprofitable trade, the broker is getting a cut.

The problem that comes in, is that small margins can lead you to believe you’re doing worse than you really are. When you have a small trade, more of your profit is going to the broker than if you had a large trade. That means a significant amount of your profit is lost. It also means that your losses will be increased by a significant amount. Basically, your profits are a lot smaller and your losses are a lot bigger. Add it up the math for all your trades and you could be losing money. But if you were doing larger trades you’d be doing much better.

I’m not suggesting you go out and make big trades. Start small, it is important, but you don’t want to go too small. You want to find a balance between small and large enough that your broker isn’t taking all your profits.

This is my global currency trading advice, which I hope helps you become a better trader. Be a smart trader and apply the rules daily for an increased chance of success.

May 7

Forex Swing Trading is a very interesting style of trading. It is often misunderstood and applied incorrectly. When it is done properly and with the utmost care, it is extremely effective for making a nice healthy profit.

Forex Swing Trading

This type of trading is something requires a few days of holding onto a trade. This isn’t something that you can do quickly or in one day. The whole strategy breaks down to identifying trends. Currencies go up and down everyday, but usually a currency will hold a trend for a few days, than it will end up switching directions. This is known as a swing.

What you’re trying to do in forex swing trading is to identify a currency that has been going in one direction for a few days and find some characteristic that shows it is about to swing in another direction. For example, this would allow you to buy on a low, right when the currency is about to go up in value.

A problem many swing traders run into is that they don’t know when to let go of the currency. They often hold onto it for too long and another swing occurs and they lose a nice chunk of their potential profit. What you need to do is find out the highs and lows of a currency over the last little bit. As the currency goes up and down, it’s going to usually stay within a range. What you want to do is sell right when you’re in the middle of the range because it’s a very conservative point and it protects your profits.

This is all forex swing trading is. You identify when a currency is about to swing in another direction and take advantage of it. In my free forex course I go into detail on how you can figure out what a currency is going to do. If you’re interested in learning, click here to join.

May 6

I have some easy forex trading information to share with you. Since this business keeps growing and growing, I feel people just to worked up and make it out to be this big complex machine. Things don’t have to be this complex. This is an old business. You don’t have to reinvent the wheel. This is why I put together this easy forex trading information, so I can help illustrate the simplicity of this business.

You’re going to need to understand the basics for how a broker makes money. They make it from the difference in the bid and ask prices. As you first start out in this business, you always make small trades for small profits. That’s what I did. The reason is to protect your money and still learn. The problem is that you’re giving away a large sum of your profit to the broker and you’re also making your losses a much higher percentage than they are. This gives you a distorted reality of how well you’re doing. You could be a very profitable trader, but because 50% of your profit is given to the broker and your losses are 50% larger, you miss out on the fact that you’re doing a good job. Try to find a balance between small, where you’re losing a lot of your money to the broker and somewhat small where you aren’t losing that much.

Easy forex trading comes from practice. Practice until you feel like you don’t want to do it anymore, than practice some more. That’s why software like Forex Killer has demo account, so you can trade without using real money. This allows you to learn and test out strategies hundreds of times before you have to invest a nickel of your own money in these trades.

Easy forex trading is best accomplished by an emotionless demeanor. When you get upset, angry or excited, you’re risking money. Your mind gets pumped full of these chemicals that change the process of your thinking. If you’re excited a bad trade might look good.  When you’re angry, you might over estimate the potential of a trade. You need to become a cold calculated person that makes decisions based on numbers.

Well these were my easy forex trading information that I wanted to share. I hope it helps you learn more and gain more profits in the future.

May 5

The foerx market has been growing at an extremely fast rate since the internet has made it available to most people from their homes. The high volume of trades leaves a person with a lot of strategies to learn and I wanted to talk about forex spread trading.

There needs to be a basic understanding of currency before you can actually look at forex spread trading. First, you have to understand that you just don’t like at prices. Currencies are always viewed in pairs because there needs to be a point of comparison to understand a currency. If the USD is worth 1.02, that really means nothing. You’ll often see this: USD/CAD = 1.02. That means the United States Dollar (USD) with respect to the Canadian Dollar (CAD) is 1.02 or that 1 USD will buy 1.02 CAD.

Now that you understand that currencies are viewed in pairs, we can now look at forex spread trading and what exactly makes up the spread. When you get quotes of various currencies, you’re going to bid and ask prices. The bid is what traders are willing to pay for a currency and ask is what someone is willing to sell the currency for. The spread comes from the difference between the two. If the bid is 1.000 and the ask is 1.005 than the spread is 0.005

This is what you see with forex spread trading. You’re going to notice a difference in what people want and what people are willing to pay. This is how you have to look at the market.

May 4

The concept of forex margin training is a little hard for the average person to understand. It usually involves amounts of leverage and extra money that doesn’t seem to make sense. If you want any easy way of thinking about it, margin trading is like having a loan from your broker, so you can trade more. It isn’t quite that simple, but I’ll explain further.

When you first start forex trading, you’re going to get a broker online that holds your money for trading. With them you can get yourself a margin account. Basically these accounts give you leverage and the money you put in is a deposit. For example, if you put in $1000, you could be allowed to move around $100,000 worth. The broker will supply you with this extra money on good faith. This is the underlining principle of forex margin trading.

You do not pay interest or anything like that, but this isn’t a loan. I know that you’re thinking this is free money, and no one gives free money. You’re right. This is a little different. Basically if you’re doing good with this extra money, the broker is happy and you’re happy. If you’re doing bad, the broker will cut you off long before you lose any of their money. That’s the down side of forex margin trading.

Here’s how it works. You’re going to run into a term called margin call when you’re doing forex margin trading. Basically if you’re trading this money and you end up losing any where near your deposit amount, you’re going to hear this term. Basically what will happen is that your broker will tell you to put in more money, or your trades will all be exited. The way to avoid losing an amount equal to your profit is to not use all the money you have a available. If you only use 10-20% you should be fine.

Forex margin trading is not a loan or free money. A broker will cut you off before they’ll ever lose a cent, but if you’re profiting, you’ll be making money for yourself and your broker. It’s a good system to increase the amount of money you can actually make. Now you know how this margin trading works.

May 3

I find the best way to learn forex trading is through a mentor. Not all of us have mentors to look up to, so this article, I will serve as a mentor giving you the forex trading advice that I learned the hard way.

Sometimes the simplest things have the most ground breaking results and the trading journal really does help. Now, it isn’t like a “bookies” journal where you just write down one line for your trades, you’re going to use this as an accountability journal as well as a feeling journal. You’re going to include all this for a trade:

  • What you’re trading for and at what cost
  • Why you decided on this
  • What you expect to gain
  • Why do you believe you will gain that
  • How did the trade conclude

This serves as a very good reference, so you can look back in a few months time to see how you progressed. You can also use it to see what you did during a specific trade.

One thing I noticed people do is they attempt to learn, learn, learn and than learn some more. This is detrimental because you’re just becoming book smart, not street smart. In University science courses, they usually have 3hrs a week for learning theory (book smarts) and 3hrs a week for lab (street smarts). You have to promise yourself you’re not going to get stuck in this pattern of constantly trying to know more and more before you ever do any trading. Decide that for every few hours you learn, you have to do a few hours of applying it in the real world. That doesn’t mean you have to go out and use your real money, just use the demo for Forex Killer and you can simulate buying in the real market.

Well, that was my little forex trading mentor attempt. You just got to become someone that learns, applies and documents. It really makes you more accountable and more effective trader. Forex Killer’s demo account lets you trade without having to use real money, but get the same experience as if you were really doing it.

Here’s a coupon for 50% off: drta50off

Click here for Forex Killer.

May 3

I want to help you a little bit with your forex day trading strategies. Developing one can be a pretty difficult task that requires a lot of trial and error. I think it’s best to remember why you’re in this business, money. The best day trading strategies will always keep you in the money.

I think one of the most pivotal points of forex day trading that you need to understand isn’t the cost price or exit price, but the time you need to hold onto it. Ever heard of that saying “Money today, is better than money tomorrow”? It means that the longer we have money in something, the less we have to use for something else. You need to take into consideration with your trading strategies, if they leave you with all your money tied up in long drawn out trades.

Another thing to look for with forex day trading strategies is the ability to identify profitable trends or indicators. These basically mean, you have the ability to see specific behaviors in a currency that gives you a relatively good idea where the near future holds for it. If the strategy can pick this up than you’re in the position to make good profits.

Lastly, your trading strategies should give you a degree of protecting yourself from losses. This usually means rigid rules that cannot be broke. Often, the hardest thing for a person to do is cut losses. Having rules that cannot be broken will save you in the long term because there is no way for you to escape the fact that you’re not going to make perfect trades all the time.

These forex day trading strategies will help you develop a profitable income over the long term. They require attention, details and a simple desire to learn. Take your time and really learn the strategies that will lead you to success.

May 3

With Forex growing into such an internet phenominon for a home business, people seem to be following the wrong Forex strategies. You can not help your bottom line if you’re making the obvious beginner mistakes. I hope to outline them here for you, so you can develop forex strategies for maximum profit. You’ll probably notice a lot of the bad strategies are the same thing addicted gamblers do.

Emotionally Invested

This is very common behavior. I feel it sometimes and I always get out of that thought process as fast as I can. Basically, when you’re emotionally invested in a trade, you can’t let go. Often times I’ll make a trade and it’ll go up where I should sell it. It guarantees a profit for myself, but I feel inside that I should hold onto it to see how high goes. I could hold onto it and it could go up some more, making me even more profit.

That’s true though, it could go up. The problem is that you have an issue letting go. It’ll go higher and higher. Than it will dive back down. You’ll think to yourself “oh, it could go back to where it was” and it goes down even further.

The point is simple, you can’t put your emotional response above your profit line. The fact is that you need to set a point before you start trading that you will exit at. If you have problems letting go, you’ll hold onto currency through the roller coaster ride.

The Reactor

This is a different bread, but comes back down to the same emotional thinking. You’re going to make bad trades as a forex trader. There is no escaping that. It’s part of life and you need to learn to deal with it. The reactor is the person that gets all worked up after a losing trade and immediately goes out to make another trade. The thought process in their head is that they can “win” it all back. Often wishful thinking.

First thing you need to do is learn to live with a loss. You’ll eventually get better at cutting your losses, so you minimize the damages. You don’t want to go out and immediately trade in an emotional state. Take a breather and come back to look for the same profitable trades you always do. If you don’t see any, don’t trade than. I’m reminded of quote from the Jerry Maguire movie, “Roll with the punches, tomorrow is another day.” If you don’t understand the boxing analogy, it simple means, you’re going to have bad days. Learn to minimize the damages of it, tomorrow will come and you can start fresh.

How To Be Less Emotional

  • Set rules with numbers. Numbers are not emotional. They’re not persuaded by good or bad days. They just are; completely neutral. If you’re going to sell a trade a 5pips profit, than sell it. The more rules you set up before a trade, the more calculated you are.
  • Take a break now and than. Stress is a pretty bad feeling you get. Sometimes you just need stand up. In fact a study by a Miami University researcher found that you’re more productive if you stand up at various points throughout your day.
  • Getting software like Forex Killer can be the best thing you do. Software isn’t emotional. It’s all just math and numbers. Forex Killer will look for profitable trades based completely on calculations, not emotions. Click here to get Forex Killer.

Use this advice to help in your quest to develop forex strategies for maximum profit that work just for you. Be a cold calculated forex trading machine!

May 2
If you’re looking for the best forex trading software available today, than you need to check out Forex Killer. This software, when it was first released, it turned up on major news networks for it’s success, which included CNN.

The first feature of Forex Killer is the fact that it is completely independent of the creator. You don’t need any special membership to use this site. You don’t need specific data feeds given by the owner. This software is compatible with all feeds, which include Signal Software, MetaTrader4, and Dealbook360.

The best aspect of this software is its ability to search through currency graphs and discovering trends. Trends give us a pretty accurate picture of where the currency will be heading in the future, so we can buy now, confidently knowing we’ll be able to make a profit in the future. The software also has this amazing ability to trade on its own. Imagine that you own some Japanese Yen, but the major trading time is when you’re sound asleep in bed. The software will keep an eye on the currency. You can set it up to sell when you meet a certain profit goal and also have it sell before it loses too much value.

Forex Killer is the best forex software on the market and all casual forex traders should have this in their toolkit. Keep you trades profitable while you’re in front of the computer and away from the computer. If you’d like to learn more about Forex Killer, you can click here.

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