Tag Archives: forex

Forex Trading Articles

Best Online Trading Tips 4 Forex Currency Trading Mistakes That Will Cost You 30000

A few months ago I had the opportunity to work with a Trader who was well funded but he was unable to achieve the profits he wanted. He contacted me after looking at some of my best online trading articles. After several meetings we were able to find an effective trading strategy and money management plan to fit his trading goals.

However, he had lost $30,000 from his hard earned money and he was been a victim of the psychological manipulation of the market.

During my meetings with him I was able to detect the main mistakes he was committing and that were preventing him to profit from the market. In this article I will be sharing with you the mistakes I saw he was committing that cost him $30,000 in trading losses.

Not utilizing the right money management and risk management techniques:

One of the primary issues this trader had was that he was utilizing the wrong money management techniques. People want you to think that making the most pips is what really counts, however I think differently. A pip is a unit of measure that is utilized in Forex trading and the number of pips you produce in a trade is merely determined by price fluctuations. Alternatively, when you use percentages as goals instead of pips you will be able to manage and measure the performance of your trading account.

Allowing your emotions to cloud your judgment:

Letting your emotions get on the way is the best way to lose all of your trading funds. When a trader is manipulated by his emotions he is more prone to make irrational trading decisions, and irrational decisions lead to losses.The best way to control your emotions and become a disciplined trader is by following a strict money management plan and goal oriented trading strategy. Building yours should be one of your first priorities as a FX trader.

Over trading causes failure:

This is one of the most detrimental and expensive trading mistakes. Overtrading is understood to be the act of looking for trading opportunities when they are not there. Sad but true, over 80% of all traders I have had the opportunity to do business with were overtrading. Previously I have compared over trading with an addiction like alcoholism. A person who has a drinking problem never admits that he has an addiction nor does a Fx trader who is over trading. The only way for anyone who over trades to become profitable is to admit their mistake (overtrading mistake) and find the right way to fix it.

Looking for instant gratification by trading low time frames:

I don’t have anything against scalpers or folks who choose to trade low time frames, I know low time frame traders who make a killing in the Forex. The problem is that scalping is not for everybody. Plenty of people become scalpers for the wrong reasons and quite a few times they just want to make money quickly. Unfortunately, this is not how successful Forex traders roll and I have discovered that looking for instant gratification is likely to lead to big disappointments.

In the end, ensure you concentrate on putting all together and don’t rush to open up a live account if you are not ready.

Regards,

Jay Molina

General Forex

Remove Emotions From Forex Trading

The forex trading market is also known as the foreign currency market. Foreign currency market is the biggest trading market in the entire world, were different currencies of different countries are being traded on the daily basis. Its major currencies are Euro, Australian dollar, Japanese Yen and many more. It has a great trading volume of around $3 trillion daily, which no other trading market has such a great trading volume.

Forex is the major liquid as well as volatile trading market, were anything can be happened at any moment. It is totally an unpredictable trading market, were the currencies can fluctuate at any moment. At one moment the market may rise and at another moment it may fall. So, the forex traders are required to keep themselves away from emotions. The traders who want to be successful in forex trading should give pay lot of attention for perfecting their skills of the psychological control. The best way of managing the emotional feeling is to exclude and separate them when we are dealing with the markets.

Due to the nature of the market and the risks involved in this market, there is possibility of becoming an emotional trader. But emotions are the way of failures and losses, an emotional forex trader cannot survive in forex trading successfully for a long time. The best way to keep away from emotions is to never get attached with a single trade or never invest whole of the money on a single trader as the market is very unpredictable and anything can be happened.

Always try to remember that forex trading market allows the forex traders to make money on the best or perfect time only. There is right time to make huge amount of money in the market, no one can make profits or money at any moment. One more disadvantage of being an emotional trader is that an emotional trader mixes his emotions with his trading decisions which are so harmful for effective and efficient forex trading. Thus, it is very important to remove emotions from the forex trading.

Emotions have no place in for successful forex trading. If a trader wants to be successful then he must dominate his emotions while trading in forex. In simple words, there should be no sorrow for in a loss and no joy in profit. There should be no joy in profit because if we enjoy the happiness of profit in forex trading then they joy will turn into sorrow when you will not make profit.

General Forex

Several Tips to Choose Best Forex Trading Platform

Now a days more number of people are interested in forex trading market. There is a big profit margin in this field provided you are able to choose the best forex trading platform for all your currency exchange transaction. Forex trading system is automated software which allows you to create an online account using which you can directly be in touch of the forex market. To buy foreign currency, you need to find a good forex platform where you can just access your account online, can see the live rates and buy foreign currency on a negotiated currency rate.

The online system of trading permits you to make money online and stay at the most comfort zone which is your home. Forex is booming these days as this is the only thing where there is no limit of earning profit. Traders make the transactions so often thus before they buy foreign currency, they can lock the rate and date on which auto system release the fund.

With the help of best forex trading platform, it becomes very easy for beginners even to buy and sell foreign currency. The assistance of smart trading software make your investing or trading will be smooth and successful. The bottomline of is we want to find the best forex trading platform which should be profitable enough for us.

There are many forex trading are available online thus sometimes it becomes difficult to choose the appropriate one. Now, here are few tips to choose best forex trading platform for buying foreign currency which can help you to ensure that your trading will not lead to money and time loss :

1) Traders buy foreign currency based on the market updates. When they find a good deal they need to process trading immediately which should be done in 1 or 2 click only. You need to be very careful about this fact as there are few online platform available in the market where number of clicks are required and these platforms can’t make your trading successful at all.

2) Sometimes it happens that the trading software is having inbuilt charting application. When your internet speed is low and this application allocate some bandwidth because of which your trading becomes frustrating. Best forex trading platform allow you to buy currency or do trading without loading chart application.

3) There is an option of automated trading available in the market. This software allow you to make a script which includes algorithm of your market study. Based on the customization made by you, the software will trade automatically on behalf of you.

4) Always asks the forex company to give a demo of their trading software which will help you to know more about the business and how you it is related your own business.

5) The ratio of profit-loss should be analyzed while trying for demo version. Ratio should be always positive. If the ratio is more than 1 then the system is actually profitable but there will be a very thin line between win and loss thus expected ratio is 2 or 3.

6) In trading market, profits are measured in pips per month which is also related with the average risk per trade.

7) To get more profit you should always keep yourself updated with the business or industry you are related with.

8) Mostly forex software are internet based thus there are chances of fraud. In this case, one should know their business partners and client in detail. You can visit your clients’ websites and look at the services they are offering.

General Forex

Learn Forex For Free

Retail Forex trading makes the $4 trillion a day Foreign Exchange Currency Market accessible to the individual trader who wants to explore the potential of additional income or as a full-time career.

All that’s required from a technical standpoint is a computer with a high-speed Internet connection, a trading platform (software), a Forex broker for a trading account, and of course money with which to trade. It should be noted that many free Forex training programs do not even require a funded account to start.

From that point the next thing that’s strongly recommended is Forex training.

The good news in this regard is that all brokers, who often provide use of their trading platform free of charge, as well as third-party trading platform developers, offer some free Forex trader training.

This training most often takes the form of a Forex webinar, which is simply an online class that will supply training on virtually every subject you’ll ever encounter with regard to trading Forex.

These classes are held on a really scheduled basis, usually requiring you to register in advance so that you can be provided with any specialized Forex webinar software and a password to log into the training session.

One particularly attractive benefit to this method of training is that the webinar classes are generally saved for repeated viewing or to allow for conflicts in your schedule that may prevent you from attending the event live.

Forex webinars cover every ability level, from the novice to the expert. They are usually identified as intro, intermediate and advanced, so that you can avoid the confusion that a new trader would experience if exposed to webinars too advanced for their level, or the boredom someone with years of experience would feel if they were to take an intro level class.

What makes Forex webinar training so effective is that it combines an expert instructor led lecture with graphics in a way that takes best advantage of how people learn. Most webinars are an hour or less in length and you can ask questions of the instructor or just listen to the questions of other webinar participants.

There is even some free trader training that allows for a one-on-one setting. If you can arrange your time to attend one of these during hours when the market is active, you can learn under actual live trading conditions, ask questions and get clarification, and even test comprehension with simulated or live trading taking place at the same time. This ability to ensure that you completely understand a concept before moving onto another means that you can set the pace of your Forex training to best match your learning style and ability.

Free trader training through a Forex webinar set class is the ideal combination of modern technology and the ability to learn in an easy, non-competitive environment prior to attempting to perform actual trades with real money.

General Forex

Knowledge Problems Connected with Forex Robot Trading

There are some knowledge granted which need being mastered when you are conducting Fx trading On-line. However the particular aide of an Quick Forex Trading Technique you can also make this specific less complicated and also this logistical issue will no longer certainly be a filter on your productivity with Forex trading.

Among the numerous benefits of this technique is that it reduces the need to depend on brokers by itself any time trading. That uncomplicated forex currency trading technique is an exciting for one system that make your investing practice better and earn buying and selling method much easier especially for the particular rookie Forex Trader.

Despite the fact that Uncomplicated Foreign currency trading is actually layout generally for novices, but this is beneficial even going to the professional. Consequently looking a new neophyte as well as a professional in the field of Fx trading, the strategy involving Simple Forex currency trading can certainly still be suitable as well as best to anyone

One of the best Easy Forex Robot trading System currently available will be the Megadroid Robot. This can be a solution connected with thought by males who have been in the Currency trading for over 37 years. This kind of Uncomplicated Foreign exchange Trading Method is designed to produce Foreign currency trading readily available and also available to any person who wants to enterprise upon Forex currency trading. The desire is to create dealing profitable to every speculator no matter if rookie as well as Skilled Broker or even Entrepreneur in the Forex market.

Because the major reason with regard to purchase is usually to acquire over a lot more than the cost you might have dedicated to your whether or not for a while or in the long run, Effortless Fx trading Technique is a significantly required application for ones successful Exchanging from the Foreign exchange. Don’t possibility your current Investment decision not understanding this particular Effortless Foreign currency trading Method that is available just a mouse click away.

This kind of Easy Forex trading Technique which gives a person information on the Fundamentals as well as Progress Information about Currency trading may information car means of Simple Fx trading and build the gaining a lot more than the charge anyone commit with regard to this kind of Easy Forex Robot trading expertise.