May 15

forex_10_title
I thought it would be fun to go over the trading rules that you need to follow. I thought a list would probably help you out much more than just breaking it down over posts. So I hope you enjoy this.

1. Trading Is An Art, Not A Science

I know a lot of people really want this to be a science. It makes things so much easier, but the market is inevitably influenced by people. People are definitely not a science. There is a lot of “science-like” things that can occur and during normal situations they can remain almost like a science. But inevitably the art will beat it.

2. Never Let A Winner Turn Into A Loser

You’re going to find that the market is very competitive and moves very fast. This provides a lot of challenges for people and the main one is winners turning into losers. I don’t think there can be anything more disappointed than having a trade that is in positive territory that turns sour. Using stop-loss and trailing stops to help prevent this sort of thing from happening.

3. Logic Wins; Impulse Kills

I’ve been talking to people about this for a long time. Logic is your best friend. You want to listen to your head and not your heart. Impulse and emotional thinking will get the worst of you in the end. You might win a few times, but in the long run you will fail.

4. Never Risk More Than 2% Per Trade

This is a very important rule in marginalizing risk. No trade is going to be a guaranteed profit, so you have to make sure that you only have small amounts invested. It’s a diversification of trades that allow you to avoid the problem of one big devastating loss.

5. Use Both Technical And Fundamental Analysis

You need to use both of these to be successful. The fundamentals will give you a very good overview of direction. The technicals will help you with the slight moves that happen in shorter periods of time.

6. Being Right And Early Means You Are Wrong

Being right is a great thing, but timing is more important. There is a specific time to move and if you show up at the wrong time you’re going to get burned. It’s just an inevitable thing, so make sure you know when to get in if you know you’re right.

7. Differentiate Between Scaling In And Adding To A Loser

The difference between adding to a loser and scaling in is your initial intent before you place the trade. Adding to a losing position that has gone beyond the point of your original risk is the wrong way to trade. There are, however, times when adding to a losing position is the right way to trade. For example, if your ultimate goal is to buy a 100,000 lot, and you establish a position in clips of 10,000 lots to get a better average price, this type of strategy is known as scaling in.

8. What Is Mathematically Optimal Is Psychologically Impossible

I think what I’m trying to say here is that you’re not perfect. You’re never going to make the right move all the time and you’re emotionally going to make the wrong choice. This is why it is important to trade a 2:1 reward to risk ratio because you can trade wrong 6.5 times out of 10 and still turn a profit.

9. Risk Can Be Predetermined; Reward Is Unpredictable

You never know what your profit will be and that is just the way it is. You have to make sure that you can handle the loss that you could possibly face. All “good” trades are nothing more than educated guesses, so you have to know what you can handle.

10. No Excuses, Ever

Basically you should never been in a trade that you don’t understand. There is no excuse for such tactics. Sometimes you anticipate a specific outcome based on news. The news goes in your favor, but you see the total opposite thing happen. You have to get out. You shouldn’t stick around in something that you obviously don’t understand.

Oct 6

Forex Skills
icon1 Tyler | icon2 tips | icon4 Oct 6th, 2008| icon3No Comments »

I wanted to take the time to discuss with you some of the most import forex skills you need to know. I think a lot of people don’t have those natural skills when it comes to this kind of market. Most people that start out end up failing because they really don’t have any instinct at all, when it comes to trading. These people typically regard themselves as smart, but this is something they don’t get. The good news is that even though you don’t have these forex skills, you can learn them. By taking the time to learn them with me, you’re going to help yourself increase your profits.

The first question you need to ask yourself is that if you lost all the money you’re trading with, would you be okay? I think this is important to ask because you shouldn’t be trading money that should be going to pay for rent and other important bills. You need to have a clear and uncompromised mind for trading. When you’re trading with important money, you’ll turn into a nervous wreck. Instead of making smart moves, you’ll take gambles with the hopes that you’ll have a big pay day. You’re never going to develop any forex skills this way.

It’s important to know when to draw the line and get out of a trade. I think most people that start can make money. They can make profitable trades, the problem is that they end up losing more money on the unprofitable ones. You have to learn to properly deal with this problem. Instead of focusing your energy on figuring out how to make money, try focusing on protecting your money from loss. Once you get this skill, you can move on to making money and you won’t end up losing it.

Aug 13

I’m going to take the time to show you some tips for foreign currency traders that will help improve the way you trade, so you can make more money. I love trading in this market because it has much more advantages than other markets. I used to trade stocks and been involved in real estate, but they didn’t offer something that the forex market has; fast profits and liquidity. That’s what it’s all about. It takes years to make a fortune in the stock market and most of the time you don’t get any. If you look at real estate, it takes months to close an offer and get your money. With foreign currency trading, you’re trading money. It’s as liquid as it gets.

Cutting your losses is an important skill for foreign currency traders. You will have bad trades, I guarantee it. There’s no way around that. You can’t avoid them, so stop trying to learn how. You have to develop the skills to deal with them and the only way is to cut your losses. It’s a simple solution, but most people invest a little part of their ego into a trade and don’t want to let it go. You have to learn to get past this because letting go is important.

There is also a degree of confidence that you need to possess. It is understandable to feel anxious and nervous when you have your money in the market, but you have to make smart decisions. You’ll feel like protecting your money and immediately pulling it out because you’re scared you must lose. You have to accept the fact that trades need time to perform, so act with a bit of confidence and allow them to perform.

The Forex Breakout System is an excellent way to keep profits high in this market.

Learn more at the Forex Breakout System.

Jul 30

This is my easy foreign exchange trading tutorial and I’m going to let you in on how to properly trade in this market. This is the world’s largest market in the world with over $3 trillion dollars a day moving around. This provides exceptional value to people that they can take advantage of. Obviously when you get good, you can make a quick buck, but don’t assume you can do it right away. It takes a lot of hard work and dedication to get good at this. I’m going to share what I’ve learned over my years that should help you out.

A demo account is an excellent tool to take advantage of. It is the only way you can have a real trading experience without actually having to invest any of your money. Practice until you feel comfortable. I usually use it everyday, just to get my head in the game before I start trading.

Your emotions can be deadly, so an easy thing you can do is just walk away from the computer. Everyone experiences these types of emotions that are bad for profit. The most common are gut feelings and stressed out. Gut feelings have you making trades based on no evidence. Stress, causes us to cut corners and not do enough research and analysis necessary to know if the trade is profitable.

The Forex Breakout System is an excellent software tool to use while you trade. It has the ability to find the most profitable trades at any given time and automatically trade them.

Check out the Forex Breakout System.

Jul 21

I’m going to give you some of my currency trading investment techniques. This is a rather large global market and this attracts many people that are looking to make a quick buck. Even though forex can be a very short term style of trading, that doesn’t make it easy. A lot of people just start into it without really knowing what to do and lose their money. This is sad because most people do try hard, they just don’t know what the hell they’re doing. I’ve been in this market for a couple of years now and I’ve learned a lot over my time. It was tough, but I was able to achieve amazing things that I’d like to share with you now.

The most important part of the whole trading process is the middle man. Better known as the broker. They’re the ones that end up holding your money and physically make the trades when you do it on your computer from home. The problem is that their are good ones out there and bad ones. Obviously you need one that is competent and meets your needs. This will require research, so don’t skimp on this part. Go to all the forex forums you can find on the internet and read the topics on brokers. You’ll hear about the ones that are good and bad.

Having software to help aid you in trading is important. This is a 24hr market and for an individual that just isn’t practical. It isn’t smart leaving money in the market unattended, even though cutting a trade short at the end of your work day can be unprofitable. Automated software will watch the currency for you and make the most profitable decisions.

The Forex Loophole is a new automated software with a new secret way of trading for profits. It has a new way of analysis and it exploits that for profit.

Learn more at the Forex Loophole.

Jul 15

I wanted to take some time to talk to you about currency trading investment opportunities out in the market and some tips that should help you do your trades much better. This market has over $3 trillion dollars a day passing from hand to hand. This attracts a lot of people looking to make money, but sadly 95% lost it. You have to be a smart person to do well in this business. This isn’t for people that are slow or don’t adapt well. I’m going to share a few of my experiences to help you better understand.

I think a lot of traders out there don’t understand the importance of the exit with regards to a trade. To have proper currency trading investments, you need to always be focused on the exit. The problem is that most people aren’t like that. We look for cheap buys and cheap prices. This just isn’t practical in the forex market. We don’t consume, we buy with the intention of selling later. Just understanding the simple fact that you don’t make a cent of profit until you sell, should illustrate my point.

Another one of my currency trading investment tips is to learn how to control your emotions. These can be very bad things for profit. A lot of people, especially new, get these “gut” feelings. They just “somehow” know that this is a good trade. This isn’t good for profit. You want to make decisions based on logic and reason, not some gut feeling.

The Forex Tracer is an excellent tool for automating your trading business. It has helped increase my profits, while reducing my time working at it.

Learn more at the Forex Tracer Review.

Jun 19

Forex Trading Tips I Use
icon1 Tyler | icon2 tips | icon4 Jun 19th, 2008| icon3No Comments »

I wanted to take the time to share with you some of the forex trading tips that I use with my personal trades. This is the biggest market in the world with several trillion dollars traded in a period of 24hrs. This means there is huge rooms for profit.

  • Cripple Emotional Thinking: This is the last place you want to be emotional. When you do this business with emotion, you’re basically at a casino rolling the dice. Basically, all you’re doing is gambling. You have to have one consistent rule; when it comes to my money, I’m going to put logical thought into where I move it. It’s as simple as that. You want to make trades based on logical and factual signs. You don’t want to make the move because you have a “gut feeling”. If you feel yourself having “gut” feelings, a “need” to make a trade, a euphoric feeling, you need to take a break. Walk away because you’re leaving yourself open to losing your money.
  • A Simple Routine: When you first start out at this, everything will be chaotic. Eventually, you’ll make it to a point where you “get it”. This is when the routines develop. Anyone that is trying to make an income, is doing a routine. You’re going to need to do the same similar tasks you did every other day to make profits. The problem is that people make it complicated. Complication makes it hard to follow and you’re more likely to make mistakes. If you keep it simple, it is much easier to get working.
May 30

Forex Made Simple
icon1 Tyler | icon2 tips | icon4 May 30th, 2008| icon3No Comments »

This is my blog post on forex made easy. It really isn’t that hard. People over complicate this business opportunity, build it up in their head and ruin their chances at using this as a great source of financial stability.

If I was to give a great tip when starting out, it would be using your demo platform. These are great for newbies. You get to make trades, using your actual trading platform, without using any money. This is the best simulation you can get to trading. You get to learn your trading platform, make mistakes and try out strategies. You don’t have to worry about what that button does. Push it and see what happens.

The next thing you’re going to do is remember to start your day slow. Remember a trade isn’t complete until you exit it. Often people start out real fast, buying and buying, only to find them self bogged down with a lot of responsibilities following these trades. You didn’t want that. Start out slow because as you go, you’ll get a taste of the amount of time required and you’ll be more likely to moderate your the volume of trading.

Lastly, get your hands on Forex Killer software. This is the most profitable software I’ve found on the market. It will search out and find profitable trends for you to exploit. The best part is the tax write off. Depending where you live, you maybe able to write it off on your income tax. That’s a great opportunity.

This is my forex made simple blog post. I hope you like it and go out and make some very profitable trades.

May 29

This are some of my favorite currency exchange tips designed specifically for casual traders. It is a great opportunity now for new trades to come in and profit in this business. Take advantage of it.

  • Watch the News: Did you know there is a goldmine of information released everyday on the news that will end up affecting the price and direction of currency? Economic news is here for you to profit. It may not all be good or bad, but being on top of it and aware of the announcements, you can take full advantage of all economic situations and make a profit. Pay particular attention to news related to the Federal Reserve, GDP, unemployment, government regulations and policies, government budgets and even acts of terrorism that may cause economic fears.
  • Deal With Losses By Cutting Them: If there is one particular skill that separates a good trader from a bad, is the ability to deal with bad trades. These trades should be dumped after there has been a reasonable amount of time given for the trade to perform. IF not, dump it. I know everyone says, “it’ll go back up”. It might. It might go back up 2 years from now. You’re probably better off cutting your losses, getting some of your money back and making a profitable trade that yields you money today.
  • Forex Killer: This is a great piece of software that has helped me become a better overall trader. My profits have increased ten times since I started using this software because of its excellent trend spotting system.

These are some of my great currency exchange tips. If you’re interested in a more in depth learning experience, you should try out my 7 day free forex training course.