Timothy Stevens asked:


In this realistic world, to be successful in any trade or even in Forex Trading, you have to know the rules and learn to do it well. Learning Forex Trading is not like babies learning baby-crawl. It is more like babies learning of how to walk by the parent helping them by hold on their arms to balance up.

As a saying 98% of Forex Trader lost money on forex, yet only 2% success from forex trading. Why is that so? 2% of successful traders stick to their “golden rules” and will avoid all kinds of failure which others made. Always learn from other people experience before starting out yourself. If you have ever went for a forex workshop or seminar, you will also realize that all successful forex trader has a past history of getting burned by trading forex too.

So start to follow these rules that had been set by the successful trader!

1. If unsure, ask for advice.

Before start trading, it will be better to trade with a group of friends where you can discuss it before making decision. Read up on books and forum to gather more information. Always practice trading on free trial account before going live. The more you understand the system the better your potential to success.

2. Always start small. Greed Kills…

Trading Forex is risky by all means; even all gurus or banker can suffer from unexpected losses. The point is never be tempted to trade with more than you afford now or future.

3. The market is always smarter than you!

Don’t ever be emotion and rash in trading; assuming can be result to 75% loss. Treat forex market as a war zone. Be prepare for trading by analyze the market before going for war. “Study your enemy”.

4. Treat forex trading as a game.

No no kidding.. Maybe because of some winning trade, you might feel confident as in “over-confident” which can lead you to another disaster. Apply all training and stick to it.

5. Stop loss is a must

Never assume the market will turn around, always put a stop loss in all trades. Losing small percents is always better than losing 100 percents.

6. Disciplined matters

When you have found out your trading system, stick to it. Don’t even try to be smart by modify it. Modifying only apply in doing research and development time. Or else just follow the rules.

7. Stay away from news

The most news affects the market movement, stay out from news and take yourself a break. After an hour later than you can continues trading as per normal. Some traders like to during news period. All depend on the strategy that the trader using. Non direction trading strategy will always be in the market, no matter there’s news or none.

There are a lots of trading method and strategy out there like; chart analyses, fundamental, trending, moving average, candlestick, Non Direction Trading and etc..



Steven

Abhishek Agarwal asked:


Luck is defined as our tendency to be happy or unhappy about persistent questions specified in some combination of circumstances. People often bank on good luck if they are not prepared on aspects of life where they should have been

Some say that the day trade on forex is a game only of chance where only luck can help you win. At the same time, others say that being prepared will help to avoid becoming too dependent on luck.

1. Being educated - Education is something that can not be withdrawn to you. This is a key personal attribute and important in your life. Therefore, if you wish to see success in the day trade forex industry, do spend time studying the market changes and its components.

There many ways to educate oneself regarding currencies day. You can also register for a seminar or a workshop. You could also see video tutorials, web sites on the topic, and talk to experienced stock brokers.

2. Learn to use the right software - You need to stay informed of the importance of tools that enable forex trading. An such tool is software. Two kinds of software are used in this industry namely (1), internet-based software, and (2) client based software.

When you select the right tool it always makes the job easier.You can then focus on strategies that may work for you.

3. Have a plan - Planning ahead makes things better if not perfect. When you have a plan you know which direction you are going, and not just with the wind.

Trading sometimes is a gamble, but with each bet lurks a strategy for you to win. Therefore, you need to plan. You must set guidelines and plan ahead for for:

a.Make your own business objectives modeled forex main objectives.

b.Settle on a sum of money which you will need as capital.

c.Establish your expected benefit from the trend - profits on the market.

d. Decide on measures to be taken when things aren’t going well

e.Have different strategies for different situations, as the market can change face quickly.

4. Being controlled

Use your plan to incorporate discipline within you. Some people lose attention when they begin to make money. Others scrap their plans if they start to lose. Never let the emotion be a master of the mind, and stick to your guns even when things are not going too well. If the plan is right it will finally work.

When you fail, do reassess your plan but do not lose hope.

Many will tell you that the markets are all about luck, but it is not so all the time. A good plan can work wonders for your trade.



Valerie

Geoff Morris asked:


Online currency trading takes on more than just a speculators or investors role in today’s complex markets. If you are running a multi-company trading business, or even if you are ‘just’ a property investor, moving currencies around different exchanges at the right time can add quite a considerable amount to your bottom line.

As most property transactions are in many hundreds of thousands of dollars, a few points alteration on the exchange rate of the day could actually make or break the profitably of a deal.

However, many people regularly invest on the Foreign Exchange markets as a pure investment. Well, I say many, but actually FOREX is the largest market in the World, but it doesn’t have an actual home.

There are a number of workshops available that are ideal if you’re new to the Forex market and have some experience trading stocks or other products. Whether you’re looking to diversify your portfolio, learn a new skill, or supplement your income, you’ll find out if the Forex market is right for you. Have a look at forex.com for more information.

Online currency trading is all done through the Foreign Exchange or FOREX. It is the largest market in the world with about $1.9 trillion going into different hands everyday. Unlike all other financial markets on the planet, FOREX doesn’t actually have an actual physical location.

That is because it is all done on the Internet and through banks with individuals trading their local currency for another. Or, if they have come back from a different country, then they might be changing from that currency into their home currency. Because FOREX is all based on the Internet, you can use online currency trading services to work within the market 24 hours a day.

But to be able to use the FOREX service, you have to sign yourself up to one of the many companies that offer these trading accounts to customers. You can open an account with any one of the hundreds of companies available; and then immediately begin trading currencies.

You will not want to use this service if you only exchange currency once a year, as you can do that at your local bank. Although this choice of account is available, large corporations mostly use online currency trading and they are the ones that will use this service the most.

However, in many cases, there are agencies available that you can sign up with ,that for a low percentage return will actually take care of all this for you.

For the really serious investor, there is a lot of money to be made, and often a lot of money held on risk. There is so much information that is now readily available, that with laptops and a wireless connection, anybody can trade basically anywhere in the world.

Also, on these online currency trading websites, you will get up to minute exchange rates from all over the world, so you will know the exact amount that you will get from your money. This also enables you to know the best time to use the online currency trading services. When the rates are just right for you, then that is when you can exchange your money.

However, it is important to note that some currency trading companies will need two days advance notice before you withdraw your money, so it is always wise to plan ahead if your goal is to make money with FOREX trading then use that money to pay bills or to pay for living expenses.

Have a look, you may well find that this is an interesting, and potentially, a very profitable new area of investing for you to look at.



Anthony

Mike Estrey asked:


One of the great themes of investment, whether it is stockmarket, commodity, foreign exchange or indeed any financial instrument, is whether or not what you are trading is in a clear trend. The reason this is so important is that trading a trend creates much bigger opportunities than trying to second guess moves within a trading range.

The problem is that for certain instruments, trends do not occur very often. Indeed for some shares, a clear trend is in place perhaps for less than 30% of the time.

Looking for the extra returns

Depending on what you read and your own observation of charts or other analysis, there are times when it is hard to decide if what you want to trade is in a trend or trading a range.

As a starting point for CFD trading, this distinction is absolutely crucial because many popular indicators that are used throughout all market conditions simply don’t work all the time. These indicators are of course used as predictive tools, so it is essential to know when they are useful and when they are not.

As with fundamental analysis, you have to look deeper under the surface if you want the extra returns. It is plainly dangerous to rely on dividend yields, p/e ratios, sales to market capitalisation ratios etc., as stand alone reasons to buy a share on a valuation view.

Likewise it is foolhardy to simply use RSI crossovers, MACDs or stochastics and so on without a thorough assessment of the merits of each within a certain type of market.

This paper is not designed to tell you which indicator works and when, because the answer is ‘some of them do’ and ‘some of the time’. The aim here is to impress on you the need to look for trading opportunities in a detached manner with the information that is in front of you, and then make a trade using a defined set of rules. One of which is simply: “go with the trend”.

Relying on one indicator

Many newer investors tend to find one technical indicator that they feel comfortable with, and stick with it during all market conditions. From a very long term point of view, this approach may have some validity, but in the short term, indicators tend to ebb and flow in their edge over other approaches.

You can of course use indicators to highlight certain set ups, but bear in mind there are millions of people around the world who can tap into any number of free financial websites giving every conceivable indicator.

You may be part of a big crowd with the same information but it is the ability to sift that information that gives the best opportunities. A computer can do this very fast and you actually do not need indicators, although they of course have their uses (see our various other papers).

The reason is that chaos theory tends to negate the benefits of an initial edge – the more people that know about something that works, the more influence that has on pricing to the point where it negates the original benefit. This is standard human nature, even though the cycle no doubt returns in due course.

What is more, there is a school of thought that believes that if you gave a trader a proven system that worked over time, together with the suggested entry points and trading methodology, they would never do as well as the system. Why? Because humans recoil from events outside the norm, and you can be guaranteed that at some stage they will not take all the signals. So we return to going with the trend, and this will focus the mind.

Benefits of finding a trend

The best 90% of market returns are made only 10% of the time, and those usually happen when there is a clear and major trend in place. It is therefore essential to isolate markets, currencies, commodities or whatever is ‘hot’ and ensure that you are participating where you can as a trader only in these issues.

If a share price oscillates but ends up the same price as when you first started watching it, it’s not easy to win consistently, and win a lot. But if you are focussing your trades on stocks or markets with a clear and strong trend, it is possible to ride any number of profitable trends, and win consistently over time.

How many times have you looked at something that appears ludicrously expensive and looked for a short trade when the trend was clearly up? Not only are you missing the big, big uptrend, but you will be emotionally worn out when the downtrend returns.

So, stand back and look at your charts from a distance – does it look as though it’s going up or down? – if you’re not sure, it’s not in a trend.



Richard

Jason Hamilton asked:


In a world where currency trading courses abound, finding the right Forex seminars to fully understand the market are of utmost importance. The right course is the perfect solution for individual traders or institutions set on learning keys to Forex success. The only way to capture financial stability and profitability on the market is through proper education, and Forex seminars can be the answer.

Forex seminars can be utilized on a variety of levels, from online Webinars to weekend on-site workshops or simple Podcasts. In some cases, a Forex professional trader can even visit institutions interested in a better understanding of the market their traders are investing in. A comprehensive, educational workshop involves a few basic components: First, a course must teach the basics of the Forex market, from its history to its major growth in recent years. Without a basic understanding of the market investors are trading in, financial success is far from inevitable.

Even the most simple questions must be addressed: How does the Forex market work? What currencies should I trade? What technical indicators should I pay attention to? How do I identify trends? What type of entry and exit strategy should I follow?

For investors new to the market and for those who need a better understanding of where their money is going, the basics, the advantages of trading currencies and the use of leverage to magnify gains and losses is vital.

Second, a mastery of an individual’s online Forex trading platform must be met. For day traders and swing traders, a vague understanding of their platform is the beginning of extensive trading mistakes. The right Forex seminars can hold the keys to this oft-occurring trading error.

Another typical error for new traders is investing in the market without an identified system. The right Forex trading system helps traders understand when buying and selling is necessary and profitable. Trading based solely on feelings or emotions is an easy way to lose money in this industry.

Finally, the ability to understand and analyze Forex charts will always lead to greater profitability. Such charts illustrate everything happening in the market at any specified time. Thus, Forex seminars that apply a technical analysis of analyzing charts is a necessity.

Training Webinars, seminars and workshops should always be done by professional or experienced Forex investors. A one-time-only workshop will be of little help if the student can’t ask questions, refer back to the course at later dates or continue learning from further courses. Upon completion of a proper course, the opening of practice accounts or individual accounts with the investor’s own funds is the next step. With the right training, success on the Forex isn’t far away.



Philip

Donald Saunders asked:


The world of business today is cut-throat and it is essential to know your way around. As far as Forex trading in concerned this means understanding the players, the market and the stakes. You need to understand things like the value of the currency you are working with, the factors that increase and decrease the value of the currency and the trading strategies and trends in the market.

As a newcomer to Forex trading this also means that you need to begin with some form of Forex education. A Forex trading course will show you the ins and outs of predicting and charting movements of the market as well as the ideal time to buy and sell a commodity and will introduce you to the basic terminologies and the method of trading.

Because Forex trading is carried out in real time and decisions generally are made quickly, a trader should also be emotionally prepared to cope with the stress, challenges and demands of the marketplace and these will also be included in any good Forex trading course.

So exactly what should you look for when choosing a Forex trading course?

All Forex trading courses needs to include the basics on things like types of orders, leverage and margins which are essential to Forex market transactions. It should also cover basic terminology, analysis and software.

Analysis forms the the foundation of profitable trading and a Forex course must look in reasonable detail at both technical and fundamental analysis including the tools used and the advantages and disadvantages of both.

However the basics and theories of trading are not sufficient and good Forex course also has to cover proper money management and the development of a good trading temperament and psychology. It is all too easy for traders to become too emotionally involved in trading and it is vital to success that traders learn the importance of things like patience, discipline and commitment.

Probably the most important element of the best Forex trading courses however is the inclusion of an apprenticeship program allowing you to get real-life experience. There can be no more effective way to learn how to trade Forex than experience gained in actual trading. Forex education courses therefore need to offer an opportunity for simulated trading which is as close as possible to live trading. It is also necessary for students to be provided with the opportunity to discuss their trading with their fellow students and to get one-on-one feedback as they trade.

For those who want to learn the rules of trading and get a good grasp of the market there are several online sites offering workshops and courses on Forex trading. Many of these sites offer courses on risk and money management, technical analysis, software and trading tools, market trends, fundamental analysis and a lot more.

Today the Internet not only represents the perfect forum for learning Forex trading but also facilitates trading from the comfort of your own home and allows private individuals and corporations to play the game and make money in this virtual realm.

Internet trading has opened up the world of Forex trading and provides the opportunity for all of us to make significant money today. Nevertheless, it is very important to get hold of the knowledge you need before plunging into trading.



JARED