Jul 3

My friends always ask and I tell them I trade forex. It really is true. Looking back 30 years ago, it was not possible for individuals to trade in this market. It was a market completely dominated by big banks and large firms. Today, with the astonishing growth of the Internet, everyone has the opportunity to trade in this market right in their own home.

When you first start, you have to go evaluate whether you have the money to risk at this time. This is an old trick with gambling “only play what they are willing to lose.” This means the money you use to pay your bills, goes on your bills and all the other necessities. You only spend your left over money on forex. There is a rather large learning curve to this business, so make sure you’ve taken care of all your financial obligations so you don’t end up on the street from using your money on forex.

The next step is to find yourself a broker. This may be something of an enormous task, because there are many out there, and some are not so good. This means that you have to be investing much of your time to find a good one that meets your needs. The best advice that I could give you because I trade forex is goto a forex forum and look at the threads. You can find these forums by doing a google search. You’ll hear the good, bad and ugly when it comes to brokers.

Finally, use your Demo Account. The demo account is as real simulation of trade, except no money is being used. This allows you to gain experience.

Jul 2
I am here to help give the best foreign exchange trading advice. I will help you start to see a trade as a simple task to make money, instead of this complicated task, that feels like gambling.

The first thing that we will have to learn is that the value of a currency only makes sense if it is in contrast to the other. The states that the USD = 1.02 means absolutely nothing for you but USD / CAD = 1.02 does. Everything that I’m trying to say is that whenever there in the look at a currency pair and it doesn’t look like a good choice, there is always another combination to look at that may be perfectly profitable.

The next thing you want to understand, is that we live in a consumer culture; cheap prices. We, as consumers are always looking for good prices on what we buy. This is cheaper, the better we think the deal. But this only applies if you plan to buy and consume for yourself. In this business you’re buying with the intent to sell it later. What you’re going to learn is that the price you sell for is more important than buying. Any currencies, that continue to rise are probably better than buying cheap currencies which do not have an expected result.

Finally, you need to develop a confident attitude. The last thing we need is to be reluctant or careful.You’ll end up missing out on great opportunities this way. The only real way to gain confidence is through positive experiences, so that is why we suggest you use an account demo to have a real live trading experience, without risking any money.

Jul 1

I wish to share with you the best forex trader advice There is no need to be intimidated by this $ 3 billion per day market,  you have every right to have some of that money come to you as profits.

The brokers are everywhere on the Internet and it is so easy on the Internet to set up a broker. Often they are run as poor quality or even fraud businesses. Some of them are decent and the rare few are incredible. The broker is what keeps your money, there is absolutely no reason to slack in this area. The best place to find information on this are listed in currency trading online forums. You can Google to find and you should be able to find hundreds of threads in different brokers. You will notice that there is a consensus about what is the best. All contributions are generally unbiased, so you can make the decision on your own.

Ensure that trade during peak hours. The reason for this is that the volume is so high. The high volume means that the currency controlled by market forces. At a time when the volume is low, a large bank can trade and cause a currency to go in another direction. Stick with the busy times.

Develop a routine that works for you. The last thing you want is a new battle every day. Some people may think it’s a good thing, but it’s mentally tiring. Your best bet is to establish routines, which makes every day easy to figure out. This will let you have more energy and time on actually making profitable trades.

Jun 30
I am here to help you learn how to do forex and as a professional. This is a great business potential, a lot of money, but it is a fact that 90% of people who are in this, lose money. This means that only a small 10% are doing well, and here is what they do.

Check your emotions: There are two types of traders; the calculated and the emotional. In any case, you do not want to be the emotional person. The person who is emotional is the one that ends up losing in the long run. The successful person is the one that makes the trade based entirely on figures. They do well. They are never caught up in the moment. Smart and straight forward.

Use your demo software: If you have a broker, you’ll have a demo platform. This way you can learn forex without using real money. It works like a real live simulator, where you are monitoring and trading, but never with any real money. It is probably the best tool you can use because you can make hundreds of trades to practice a strategy until you are sufficiently comfortable with it.

Be confidence, but reserved: It’s hard for me to tell you to just “be confident” because we all know you can’t turn that on like a light switch. Just try acting like one. Eventually the day will come where you feel confident enough with your trades and decisions.

Jun 12

I have advice for the forex currency trader out there, reading this. Me and you, we have one driving motivation, profit. That’s why I do this. I don’t do it for fun, games or the “common good”. I’m here to profit in this great business.

The problem with this is finding people that have the same integrity that are in this for the long term profits. Brokers aren’t always that good. Some of them treat their clients poorly. Some have the worst customer service and some just scam people. Since there seems to be a lack of integrity in this part of the business, you need to take the necessary time to research and find a good broker. This is the most important advice for the forex currency trader to follow. If you only read this, follow it.

Next you need to focus on the time you trade because that is very important. Did you know that during low volume times, like in the evening, big banks can really manipulate the market? It’s true. Banks have huge sums of money to move around and when the volume is low, they really can mess around with your trades. It’s not something aimed at you, so don’t take it personally, but accept it as something that will happen to you. Stick to trading at the peak volume times. This means so many people are trading that big banks are unable to manipulate the market.

This is my advice for the forex currency trader. If you’re looking for more help at this you should get a forex robot. They take care of the trading for you.

Jun 6

Top Forex Trader Advice
icon1 Tyler | icon2 advice | icon4 Jun 6th, 2008| icon3No Comments »

I bet you want top forex trader advice because you want to be the top forex trader. Well, if you want to be the best, you need the best tools for the job. Forex Killer is the most sophisticated trading platform on the market. It has been featured on CNN, so you know it isn’t just another piece of junk software on the internet.

Profit Margins

As a small trader right now, I bet you have a big problem with your profit margins. It is only natural to want to make small trades for small profits because that is the best way to learn without losing all your money. The problem with that is that your broker takes a cut too. When the margins are so small your broker is essentially getting a huge percentage of your profits. Also if you look at bad trades, your broker is adding to the loss. This gives a distorted look at your skills. You could be a profitable trader, but because the margins are low, you could be facing losses. Be aware of this fact. You could be doing great and you could be at the point that you need to move up to larger margins to become a top forex trader.

Bad Trades

These happen to all of us. The different between a good trader and a bad trader is that a good trader minimizes the effects. Cut your losses like everyone else does and you will be well on your way to becoming one of the top forex traders.into a great trader.

Jun 4

I’m here to share with you some of my best forex trader advice.  I hope this can help you become the best forex trader you can be. I recommend that you get yourself a copy of Forex Killer. It has really transformed by trading from small potatoes to very profitable. It has great automation features and trend finding capabilities.

How Do I Find A Good Broker?

Brokers are available everywhere on the internet. It’s really hard to tell which one is good. There is really no way to tell if one is a legit business on Wall Street or a pet project of a teenager living in his mothers basement. The best solution I’ve found for finding out how to find a good broker is to locate a forex forum. A place where forex traders talk. There is constant discussion about brokers. You will hear the good, bad and ugly. You can be certain you’ll get an unbiased view on some of the brokers out there. You will notice that some brokers end up above the rest. This is the first step on becoming the best forex trader.

When Should I Be Trading?

I think the best time to trade is during the peak hours and I will tell you why because this advice will help you become the best forex trader. Peak hours mean there is going to be a high volume of trades going on. At this time there is no way to manipulate the market. Banks can move around millions in trades, but a currency will be relatively unmoved due to this. If you take a low volume time, if a bank makes a million dollar change, you can be pretty sure a currency will go in a different direction. By trading a peak hours, you’re going to protect yourself from market manipulations.

What Should I Be Doing During The Day?

The best forex traders always follow a routine, so that should be your main task: build a routine and follow it daily. It’s hard for me to tell you exactly what to do, because only you can answer that.  Start trying things out and when you notice things working hang onto those tasks.

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 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.

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Click here for Forex Killer.

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