Forex Factory - How To Prepare For Your Trading Session

The Forex Factory web site is a very popular site among developing Forex traders as shown by an Alexa rating of around 5,400 most visited sites on the web. Any site within the first 100,000 gets serious traffic!

Forex Factory provides 3 main services listed in my personal order of importance:

• Calendar
• News
• Forum

Calendar

The main attraction of the Forex Factory calendar of upcoming economic reports and fundamental announcements is that it is so visual and easy to read.

A color coding system gives an indication at a glance as to how volatile the announcement is expected to be:

• Yellow - Low Impact
• Orange - Medium Impact
• Red - High Impact

Another good feature of this calendar is the ability to customize the time to your own time zone. So instead of having to add or subtract a certain number of hours from GMT to arrive at the time of the economic report in your country, you can set the calendar according to your time zone and see the time accurately displayed.

This feature saves some confusion and prevents a newer trader from leaving a trade in around a volatile news report because of getting the time mixed up!

News

A number of news reports are featured daily from authorities and advisors in the financial markets.

Within a few minutes the trader can come up to speed on the latest economic factors that might impact the market.

Forums

The Forums at Forex Factory have a huge appeal as indicated by the thousands of users online each day.

The forums are divided into various themes including:

General Discussion

Trading Systems

Broker Discussion

Forex Beginner Questions and Answers

How To Get The Best From Forex Factory

For me, the calendar is by far the most useful feature at Forex Factory. I consult it each day in preparation for the next trading session and make sure I am out of the market around volatile news releases (flagged by the red icon) and also many times the medium impact reports (flagged by the orange icon).
The News feature is also useful to get a broad overview of market sentiment. At the same time caution is needed if you use technical analysis as your main trading tool as the comments and opinions of others can sometimes blur your own analysis and lead to flawed trade entries.

You may have detected a perfectly good trade setup and the trade is going well. Then as it starts to stall the comments of a news analyst come to mind and you exit prematurely from what could have been a very profitable trade.

So it is good to view the News objectively and coordinate it with your own technical analysis.

Forums - Be A Little Cautious

For newer traders the discussion forums can be helpful in bouncing ideas off other newer traders. One of the main benefits is encouragement and motivation from hearing how others are getting on.

However, as to whether you can get good trading tips and strategies from the forums is in my mind a little doubtful.

After I attended a Forex seminar run by a licensed professional who trades the Forex every day and is a fund manager, I noted his comment that the really successful Forex traders rarely have time to visit online forums and participate in discussions. They are too busy making money on the Forex!

So as long as you approach forum discussions with the realization that most participants are also in the learning stage, you can evaluate their comments and suggestions accordingly.

There is no doubt Forex Factory (forexfactory.com) provides an excellent group of services for newer Forex traders. Definitely use the calendar to the full and depending on your level of expertise, use the News and Forums features to gain a better perspective of daily market activity.

For a free pivot point calculator, Fibonacci calculator and the best free economic calendars click here:

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Reuters - Stocks climbed on Thursday as investors snapped up shares trading near their lowest levels in five years on optimism that aggressive rate cuts by global central banks, including the Federal Reserve, will help cushion a worldwide economic downturn.

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What Should You Know About Forex Trading Software System!

Most People who make money from the foreign exchange market use a profitable forex trading software system. That's just one of their advantages in front of the people who lose money with their trades.

Why do they use a forex trading software system and what are the advantages of using a software like that?

There are many benefits and the best one is that with a forex software they will take and make money on every opportunity available.Let me give you a short but clear example.As you know the currencies are traded at any hour of the day because of different time zones.

It's 3:00 Am in the morning and you are sleeping,while in your account stands 5000 euros ready to be traded. The euro level raises at 3:10 Am with 10% but you can't trade them because you are sleeping, so you lose that opportunity. That's just one difference when using a software.

Another benefit of using a software is that it will also reduce the risk of losing money of your trades, with mathematical calculations.Some of these software programs even have a demo account where you can use the software without risking any real money.

If this isn't enough to make your trading easier,faster and safer then read another benefit of a forex trading software system: usually the software is developed by expert forex traders, which make thousands every day. They know how important it is to get and have buy/sell trading signals so they implement this thing in the software. If you were paying to receive signals, then you should know that you will not pay for signals if you use a software. Some software come with ebooks and other profitable that you can use to improve your trading skills and increase your profit.

If you want to know which is the best forex trading software system and get a free gift Read More Here. Tomorrow it could make the difference between earning 1000$ or losing 1000$.

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Start Trading Like the Pros With Forex Trader Software

An increasing number of forex traders are using automated software to do a lot of the gritty work for them. The number of traders who use forex trading software with their campaigns has jumped 7% in the last three years to show that the forex market is going increasingly automated. Why do they do it? In a word, it's more accurate. It's more accurate in a few ways.

The most obvious of these ways is the fact that forex trader software comes with signal generation. This more or less analyzes the market's trends and changes, past and present, to piece together what will happen next in any given set of forex pairs. You can then trade these forex pairs accordingly and ahead of the curve. The best of these programs are incredibly accurate, many of the top traders swear by them. In fact, many of the former and current top traders and experts are typically the co-publishers behind these programs. They are programmed using precise mathematical algorithms to eliminate human error and instead rely strictly on cold, calculated numbers to give you the most precise predictions.

To fully take advantage of "tips" or predictions, you've got to be able to react at a seconds notice. As this is near impossible, another benefit of forex trader software is that it can be completely automated. In other words, you just steer the program in the direction you want it to go, and it's off. You can focus your attention to other things from your day job to spending more time with your family. This is especially handy when you consider the fact that the forex market keeps much longer hours than the traditional stock exchange. It practically never closes, save for a few twilight hours over the weekend. When you approach things this way, there is no substitute from using forex trader software if you truly want to be successful in this market.

All in all, forex trader software makes for a reliable source of income. As there are a number of competing programs in this industry, it helps to be able to separate the leaders from the lemons. Visit http://www.forexautotradingreviewed.com for in depth reviews and comparisons on the leading forex trader software available today.

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Forex Trading Systems

Forex trading systems; where to start? Well let's start with you. If you're like most people you want a lot of money and fast but want to do little work. Don't be ashamed to admit it, I'm the same way. This is where Forex trading comes in. Forex trading in general is a complicated process to understand and master but the fine "elite traders" and "elite advisers" have made life easier on us lazy folks by introducing Forex trading systems. Plus they make an extra buck on the side which is always nice.

The concept of a Forex trading system is simple; it tells you what to do step by step. Forex trading systems come in many mediums, some superior than others. For example there are seminars, books, e-books and autopilot applications. Settle down tiger, I know you're excited about the word autopilot but I'll get to them later I promise.

Seminars while good and filled with information from elite traders, are tricky. I say this because a decent one will usually cost you a pretty penny and depending on the person you may or may not be allowed to take notes/record the session. So there are some things to research before attending/spending a dime on one. If you're not allowed to take notes or record the session how good is your memory? If you're like me you forget what you had for dinner 3 days ago.

Book and e-books are excellent references if you're interested in learning everything about trading. This also opens the option of one day creating your own Forex product and making even more cash which is what we're all about, right? The downside to this is the process is usually trial and error and you may or may not lose large sums of money you've invested. That's not cool... seriously.

And finally we have autopilot applications (I told you we'd get to them). These are taking the Forex trading market by storm right now. Any of the best selling ones (Forex Tracer, for example) are designed by expert advisers and elite traders so you know you're getting quality stuff. A lot of these "elite traders" are angry at those who release such programs and they attempt to bash them. Why? Because we (the lazy folks that just want money) are taking money they could be earning. Boohoo, that's what I say.

Forex autopilot applications are highly effective, besides the fact they've developed insanely complicated algorithms, they've put them through insane amounts of testing before releasing them. You think you've heard the best part? Think again. First they require no previous experience and they're dead easy to use (and come with instructions so it's a total no-brainer) and second most offer a function where you use "fake money" (no, not counterfeit money... it's play money). Essentially you can play the trading game and see how much potential profit there is before even investing a dime. Now that's something we like to hear.

So yeah, that about covers it. If you're interested in listening to what a guru has to say look for a seminar by an elite trader. If you're interested in actually learning the complex market o' Forex trading you should grab a book or e-book and get reading. But if you're lazy and just want money like me grab an autopilot application and go to town my friend!

For reviews of the top three selling Forex trading systems click here

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Rule the Currency Market With the Best Forex Trading Indicator

That's right! You can really make some nice, consistent profits with the best Forex trading indicator. Of course, you are wondering when I am going to tell you what it is. OK .. drum roll please .. it is the most time tested and reliable Forex trading indicator .. known as .. the 200 Day Moving Average. Yep, it's the ole' faithful instrument used by more money managers and large institutions than any other indicator. The truth is that this trading indicator is so effective because it works as a result of those who work it. Let me give and example: A certain currency is trading above its 200 day moving average. Five of the big money managers in some of the largest financial institutions see the currency is above this mark and as a result they move on it .. going long that currency. Guess what happens when the "big boys" make that move? That i right, the currency goes up. Why? Because it is the big money that moves the markets. it has always been that way and always will be.

Now, I am not suggesting that you go and find any currency trading above the 200 day moving average and go long that currency. Nor am I saying that you should short a currency that is trading below the 200 day moving average. Here is what it comes down to: Start with currencies that are above the mark (200 day moving average) then learn to use other indicators to confirm your move. I also suggest using a reliable trading software program that provides timely and effective trading signals (I have included a couple of links for review sites that can give you an objective look at what has a good track record and what does not).

Good trading ahead as there is always opportunity to make money on the Forex market.

Get an Objective Review of the Most Popular Forex Trading Software Programs. Best Forex Trading Indicator is the place to visit.

See What Forex Trading Software REALLY Works! forex-trading-system-review.com is the place to visit.

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Day Trading Rules to Live By

Most people looking to make money in the markets believe that the answer lies in finding some simple technical analysis strategies that will catapult them to profitability.

The truth is that trading is not as simple as beginners believe. It is a profession, and like any profession it requires a learning curve. Reading a book or getting a few simple "tips" is not going to turn you into a professional trader.

After studying for a length of time, it's not uncommon for students to begin their search for the "holy grail."

They search for more indicators, chart patterns, gurus, alert services or the latest secret day trading strategies and other things that will provide their answer to becoming successful.

But here's the fact. Success lies within you .. and it won't come easy.

In fact, one of my favorite success principles is this:

"Successful people do what unsuccessful people are unwilling to do."

Let's apply this to trading in the form of my list of "Day Trading Rules to Live By" ... all of which have to do more with you than with the market.

1. The consistency you need is in your mind, not in the market. Many in the market get frustrated because the market often behaves differently than they expect. You can't rely on the market to be consistent. It is largely a random walk. But there are times when the market does setup with a probability scenario that gives you an edge. Your job is be consistent in trading those probability setups and trade them every time they occur.
2. Trade like a cat. Most beginners over trade. It's one of the most common trading sins. Your job is to be better than other day traders in having the discipline to wait like a cat in the brush until just the right moment (your high probability setup) and then jump on the trade without hesitation.
3. Successful trading is simply a game of not making mistakes. Keep a list of your day trading rules posted on the wall or on your monitor and then follow those rules perfectly. You must be more disciplined than the average trader. Never depart from your rules no matter how good a trade "looks" or "feels" to you if it violates your objective and back-tested rules.
4. Only trade when you are in an optimal emotional state. Never trade when you are tired or are in an emotionally unstable situation (after a fight with a spouse or friend for example). Day trading is more like athletics than academics. Trading on such a short time frame requires you to be able to make split second decisions, and you're risking a lot of money when you do. Make sure your mind is sharp and your emotions are centered.
5. Keep a detailed trading log. Every day trading course I've seen has a trading log. Yet my experience in dealing with trading students demonstrates that less than 10% of them actually use it. This is a huge mistake. Not only should you log every trade, but you should also record how you felt and what you were thinking as you took the trade. In this way your logs will become a type of "biofeedback" mechanism for you. Personally, this was the difference that made all the difference for me.

These 5 day trading rules are not the type of rules that you were probably looking for. The masses want rules about indicators, price bars, where you get in and where you get out.

Granted, you definitely need clear objective rules about those things as well. Yet thousands of traders have those types of rules, and yet continue to fail because those rules are about market action.

They fail because they don't have, or don't follow, the more important rules the rules about their own action.

If you find yourself resisting the importance of these rules about your own behavior, realize that you are one of the masses who feels the same way. But since the masses fail at day trading, you must set yourself apart and do something different than them.

Following these 5 day trading rules are what the retail traders fail to do. Not because they can't do them, but because they are unwilling to do them. And remember, "Successful people do what unsuccessful people are unwilling to do."

Dr. Barry Burns is the owner of Top Dog Trading which teaches people how to avoid the long learning curve in day trading

He started his study of the markets under the direction of his father, Patrick F. Burns, who became independently wealthy through trading and had over 70 years of trading experience before passing away in 2005.

He has been the featured speaker at DayTradersUSA, and developed a 5 Day Course for WorldWideTrders.

Dr. Burns has been a headlining guest speaker for the Market Analysts of Southern California, given seminars around the country at many Wealth Expos as well as many Traders Expos, been interviewed on the Robin Dayne "Elite Masters of Trading" Radio Show, and is the former moderator of the FuturesTalk chat room.

He has a doctorate in Hypnotherapy and is a certified NLP practitioner, and therefore able to help people with the psychology of trading.

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Pay Taxes For Forex Trading - US Traders

You finally start to profit and you are all excited about your just withdrawn cash when it suddenly hits you - what about taxes? How are my profits taxed and where should you report your income? What kind of documents should you fill in and how to keep IRC away from knocking on your door in the middle of a happy sunny day?!

I don't know about other countries (I promise to investigate though!), but US traders are definitely required to pay taxes for foreign exchange profits. It sucks, but that's the law, so unless you are planning to move to Europe or Middle East, you should continue reading!

US forex traders can choose to be taxed under the tax rules of regular commodities (IRC Section 1256 contracts). Another options is to be taxed under the special rules (IRC Section 988 - Treatment of Certain Foreign Currency Transactions)
Good thing about Section 1256 for forex traders is that when you report your capital gains on IRS Form 6781 (Gains and Losses from Section 1256 Contracts and Straddles) you have the right to split your capital gains on Schedule D using a 60% / 40% split. What the hell is this split??

• 60% of the capital gains are taxed at the lower capital gains rate (currently 15%)
• the remaining 40% at the ordinary capital gains rate (as high as 35%).

What about Section 988? What is it and how to deal with it?
With Section 988 the gains and losses from forex are treated as interest income or expense and get taxed accordingly. There is no 60/40 split and, to make things even more complicated, since forex traders deal with daily exchange rate changes, the trading activity also falls under the provisions of Section 988. However, IRS isn't THAT evil - daily exchange rate changes can be considered part of a forex trader's assets, a normal part of your business. So IRS gives you an option of rejecting (OPTING OUT) of Section 988 and tax your gains under lovely 60/40 split of Section 1256.

How to get rid of (or OPT OUT) Section 988?
There is no need to file anything with IRS to opt out Section 988. However, you are required to do file "internally" before you even start trading for real. What do I mean by internally? You have to keep records about the fact that you are opting out of Section 988.
Majority of forex traders wait a year or so to see what kind of profit they get from forex trading and only then claim that they opt out of IRS 988. The last time I checked IRS can't really check whether a forex trader opt out Section 988 at the beginning of his trading activities or later on, and therefore IRS still let this trick pass.

How to pay your forex taxes?
US forex trader will get 1099 forms from his US-based forex broker at the end of the year. If your forex broker is based in another country you still have to get the reports and forms from your accounts and get some professional tax advice.

Forex trading is becoming more and more popular and eventually IRS will catch up with some new regulations. Meanwhile, try to enjoy the advantages of the current tax requirements on forex trading. And here is my advice - don't try to skip taxes!

Check out more forex articles, tutorials and forex brokers reviews at http://www.forexexplore.com

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Reuters - Consumer confidence suffered its steepest monthly drop on record in October and construction starts on new homes fell to a 17-1/2 year low the previous month, as the financial crisis sent shock waves through the economy.

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Forex Trading Education - Learn Automated Forex Trading

Do you want to learn how to trade forex or learn automated forex trading? Well many people tell you you need to be an expert to trade in the forex market. But honestly, you do not need to be an expert. Do you know why? Well thanks to advances in technology, forex trading robots have been developed. These robots can literally make you thousands of dollars every single day. All you need to do is buy a trading robot and activate it (Put money/a capital) and your set to make money. Even better is that they run on complete auto-pilot which means you never how to actually trade forex yourself because the robot software will do it for you.

Some people just let these software's run on auto-pilot and then make some serious profit. This is not the smart thing to do because you are not actually learning how to trade forex. So what should you do to become better at forex trading with auto-pilot software? Well you should study when it makes the trades, how much it trades, and its techniques. You could consider this software your Forex Trading Education. You will be amazed by how much the software's teach you and how much money they make.

A good trading robot will only make trades if there is a huge chance of profit. I make over half of my income with forex trading bots. I currently use 2 trading robots. I reveal both of the robots I use in the link below. Everything is done on auto-pilot and 95% of the time I come out with a decent profit. My best day was 3,000 dollars profit and my best week with Automated Forex Trading was 16,000 dollars profit.

Do you want the very best forex trading robot? Well I have some good news for you, I bought and tested the top 7 forex software's and put a review of the top 2 on my website: ForexTradingReview.Info. I made over 900 dollars a day with one of the softwares listed on that site. Just Imagine if you purchase a couple of profitable softwares!

You have to be very careful when purchasing a software though. Some of the software's just sit around and never make you any money. If you want to make thousands every week with forex I suggest you take a look at the website: Forex Trading Review

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The Hidden Secret of Technical Analysis

Did you know that there is a whole 'other world' of technical analysis that most novice traders are either totally ignorant of, or fear to go due to the fact that it might actually require some work?

Well, there is! And I'd suggest that if most novices fear to go there, then perhaps it might be worth some investigation.

What is technical analysis? For most novice traders it seems to be one of, or a combination of, the two following approaches:

a. The art of defining recent price action through classical charting techniques such as the Dow Theory definitions of an uptrend and downtrend, and recognition of patterns such as channels, triangles, head and shoulders, cup and handles, and on and on, or

b. The art of representing price action through the numerous indicators available on your charting platform, such as moving averages, stochastics, MACD, and on and on.

This is great. It's a good start. But the fact is that no matter how we define the structure of the market, whether based on Dow Theory, or Elliot Wave Theory, or through an indicator based approach, it is important to remember that this structure defines PAST market movement. It's a simplification that allows us to quickly identify what happened in the past.

Profits come from future price action though, not past price action. So having defined past price movement, these traders then use general rules associated with that past price action to justify an entry into the market.

For example:

* "The break below the neckline in a head and shoulders pattern is a great entry short, with a target equal to the distance from the neckline to the peak of the head." - so having identified a breakout down, they enter short.

* "A moving average crossover is an indication of a change of trend" - so identifying the EMA 10 crossing above the EMA 20, the novice trader enters long.

Once again, this is great - hopefully at least better than random entry. These general rules for entry are fine if you're satisfied they provide a slight edge, and you have a complete understanding of the probabilistic nature of price movement, and an appreciation for the necessity of position sizing and risk management. You may well make some profits.

However I'd suggest that there's a whole other world of technical analysis that you're not seeing. That still won't guarantee success (the elusive Holy Grail doesn't exist, so stop looking), but it will provide further opportunity to increase your edge. Use of this hidden world of technical analysis will allow you opportunities to enter lower risk and higher probability trades. Lower risk trades through getting earlier entries closer to support and resistance areas, so you can safely place tighter stops. Higher probability entries, through analysis based more closely on the truth behind price movement rather than a general rule for pattern or indicator based entry.

So where do we find this 'other world' of technical analysis?

Look behind your indicators, or behind the classic charting patterns, and what do you find?

Price action!

It doesn't matter how we define past price action - an uptrend, a downtrend, a range-bound sideways trend, a head and shoulders pattern, an ascending triangle, wave 4 of a five wave pattern. It's just a label that describes an approximation of past market movement.

The label is not important. What is important is the nature of price movement behind the pattern or indicator overlay.

Too many people will say that, because the price is above the 50 period moving average, or because the 10 EMA is above the 20 EMA, or because they have identified a structure of higher highs and higher lows, the market is in an uptrend. They apply a label - uptrend. And that's it, end of story. No correspondence will be entered into. The market is in an uptrend, and they're looking for trades in the long direction.

Looking beyond the "uptrend" to see how price is really moving can allow us to see the internal strength or weakness of the trend. It can provide you with an insight into the fear, doubt or greed of the market participants that create the price action, which then creates the price trend or pattern, or moves the indicators.

I'm not saying you necessarily have to get rid of your indicators - just recognize them for what they are - a useful approximation of the market.

And recognize that if you want to improve your edge, you may need to look behind the pattern, look behind the indicators, look beyond the label, and see what price is really doing.

* Is the volatility of price movement changing, and what does that mean?

* Is the momentum increasing or decreasing? What does that mean?

* Is the momentum of this price move greater or less than the preceding swing, and what does that mean?

* Is the momentum of this price move greater or less than the previous swing in the same direction, and what does that mean?

* Let's go even deeper, and consider the thought processes and psychology of the people who are long (or short) in this trade, and currently sitting on a profit. Where are they looking to exit? Where are they going to take profits? Where are they going to place their stops? What does this mean for future price action?

8 Let's consider the psychology of the traders who are currently fighting this move, sitting in drawdown, sweating on every tick and praying to the market Gods - "If you can just this once turn price around so I can get out at breakeven, I promise I'll never again take such a stupid trade". Where are these people trying to get out? At what point will the fear become so great that they'll just have to get out?

* Let's consider the psychology of the people sitting on the sidelines, having missed the start of the move. Some of these will be professional traders - where will they be identifying a low risk and/or high probability entry into this trend? Some of these will be novices - where is the absolute worst place to enter, having chased the market and entered simply out of fear of missing out on the move? Yes, some people do enter right at the very worst tick possible. Where potentially is that, and what does that mean for future market movement?

The answer to all these questions will make a great subject for future articles. For now I'd just like you to start looking beyond the indicators and patterns, and discover a whole other world of technical analysis - price action.

Examine the current internal nature of price movement - the speed, the momentum and the volatility. And consider how this is likely to influence the decision making of the novice traders who will be entering and exiting the market based on their own fear or greed.

And try to discover how you can use this information within your current strategy to lower the risk of entry, improve the probability of your entry being in the right place, and improve the management and exit of your position.

If you are interested in improving your current edge in the market, analysis of price action may be just what you're missing. Check it out now.

Happy trading

Lance Beggs

(c) Copyright 2008, Lance Beggs

http://www.YourTradingCoach.com All Rights Reserved Would you like to learn more about how I trade the forex and equity index markets? Check out the articles, videos and trading resources on my website right now at http://www.YourTradingCoach.com

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Finding The Best Broker For Currency Trading

If you are trying to find the best broker for currency trading you will want to find the following:

• Personal account management
• Live training, one-on-one help
• Rates, Limits and Stop-Loss
• No software download
• Instant Deposit with Credit Card
• Margin trading with small start up (US$50 - US$200)
• Freeze the Rate you see and trade Forex online
• No hidden costs
• Security and Safety
• Competitive Spreads
• Live Real-Time streaming quotes

This is just an abbreviated list of the things that I look for in a trading platform with a good broker for currency trading. Let me briefly touch on each component.

Personal account management - Ask these questions: Do you have your own account service manager working closely with you? Are the dealing room services are offered to you by expert Forex dealers? Can you speak with them over the phone, over e-mail, or over a chat line.

Live training, one-on-one help - Your broker for currency trading should offer background information for the Forex market, a guided-tour, seminars, one-on-one training, chat, telephone support, forex assistance tools, etc ... If you are using their services then they should provide you with.

Rates, Limits and Stop-Loss - Your broker for currency trading should execute your set rates, including Stop-Loss and Take-Profit rates, by using the latest technologies. Remember, you should not lose more than your Stop-Loss amount at risk, as defined by you.

No software download - I don't know about you but I prefer not to have to use a program that I have to download. I want to start trading immediately. Without a software download required you may login to your account and trade anytime, from anywhere. I like that.

Instant deposit with credit card - It is always nice to have a broker with currency trading that which allows you to fund your account with your credit card, so you can start trading immediately, regardless of banking work days or
hours.

Margin trading with small start up (US$50 - US$200) - A lot of platforms advertise that they have "DEMO accounts" available. That may be helpful to a new trader but far more beneficial is a system that enables you to trade with small amounts as well as large. I would look for a platform that you can start using even with an amount as little as $50! No bank would ever offer you such an opportunity! When trading, you may deposit the sum that suits you, or fits the amount that you are willing to risk. Starting to trade with such small amounts is the best way to get acquainted with the Forex marketplace. Much better than operating "DEMO" accounts, where you are not really risking your own money. After getting familiar with such a system, you may increase your level and scope of activity, as you find fit.

Freeze the Rate you see and trade Forex online - Try to find broker for currency trading that gives you the possibility to Freeze the Buy or the Sell rate that you see for a few seconds, regardless of rate movements. That means that the rate you see and freeze is the rate you get (if you decide to make the deal). During those "FREEZE" seconds, the Forex market could change, however - you are guaranteed to use the rate you have frozen, in case you wish to materialize it into a deal. It will b hard to find this component but seek and you will find it out there.

No hidden costs - This is a big one for me. I do not like being duped. Just be straight forward with me, that is all I ask. Yet, this is very hard to find. I want transparency when it comes to spreads and commissions. A really good broker in currency trading will be transparent.

Security and Safety - Make sure that whatever happens: failure, disaster, etc. your transactions are intact, secure, and backed up.

Competitive Spreads - This speaks for itself, "How many "pips" do they offer as their spread?"

Live Real-Time streaming quotes This is another big one for me. I do not know why a broker/platform would not have this benefit but many do not.

I hope this information helps, I have tried to be as thorough as possible. When it comes to finding the best broker/platform, I have included a link below. it is the best that I have come across. Good luck.

Make a Killing Trading Forex! Forex Killer is the place to visit.

See what a Forex Trading Robot can do for you! Forex Robot is a must.

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5 Guidelines For Evaluating Your Trading As A Business

Trading is just as much of a business as any other industry. Treating what you do as a business will help you improve your trading, allowing you to trade with less emotion. Constantly set trading goals to work towards, just as you would create goals for any business. Here are a few tips to improve your trading as a business, helping you reach your trading goals.

1. Your Trading Plan is Your Business Plan - Your complete trading plan is much like a business plan. Included in your trading plan planner should be a concrete statement on how to generate profits and your specific strategies. Much like your own business, you should have a plan in place to reach your trading goals. Setting swing or day trading goals is critical to producing consistent profits and staying "in business."

2. Profit Loss Sheets - Bookkeeping may come second to technical analysis and e-mini futures, but it is just as important as day and swing trading itself. You should prepare a profit or loss statement every month and track where you've made money and lost money. If you're finding yourself losing money in the 10 am - 2 pm period of the trading day, you might consider closing up shop during that time.

3. Have a Routine - If you were going to the office every day, you wouldn't go in sweatpants and a t-shirt. You should be dressing the way you want to perform. Getting up early and getting ready just like you would for any other occupation will keep your mind in the game and bring in consistent earnings. You need to treat yourself the same as you would with a business. Set a trading goal for each day and strive to reach it with profitable trading strategies.

4. Use Profits to Grow - Businesses need more capital to expand and make more money and so does your portfolio. Spending a few extra dollars on advanced trading techniques, tools, and strategies will help you be a better trader. Mark each expenditure against the value of your trading portfolio as you would against the bank account of your business. Each investment is an investment in yourself, and it is also tax-deductible, just like any other business expense.

5. You're Buying and Selling a Product - Shares of stocks are products just like an article of clothing or a pound of carrots. Trading is buying and selling a stock for a profit, much like owning a business is buying and selling a product for a profit. Think of each stock like a product; you might have to have "sales" to get rid of extra holdings or to cut losses, but it is all a part of running a business.

Organizing your trading life like your business increases your probability of market success. When you take time to manage your business, invest in your business, and treat yourself professionally, these are the tools to make consistent profits.

About the Author:

Leroy Rushing is an active, professional day trader; trading coach; and author. He is the Founder and CEO of Trading EveryDay, a distinguished provider of educational trading products and services that are available worldwide. Trading EveryDay also has many articles with unique perspectives on day trading.

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FX Official Review - Do The FX Official Forex Trading Techniques Work?

Do the FX Official Forex trading techniques really work? It is a course that claims to teach any beginner how to make a consistent profit from the Foreign exchange market. According to research, only about 10% or less traders are able to generate profit in the long term, and these are the people who have real skills in analyzing the Forex markets. They do not rely on some "a + b then do c" formula. You should only join FX Official if you are prepared to become an expert Forex trader yourself.

Before you start trading the Forex, you should try to have your capital in US dollars. This is because the dollar is easier to convert for transactions since it has a direct conversation rate with almost every other currency.

What Does The FX Official Course Teach?

Every day, the creator of course, Jason, will send his members his systematic analysis of the Forex markets. He highlights the currency pairs that deserve more attention, and explains to you why in terms of potential profitability and risk. By reading his analysis and trading techniques, I have been able to slowly develop my own trading skills and systems as my analytical skills of the Forex market improves.

What Are Some of the Proven Forex Trading Techniques?

1. Never Risk More Than 2% of your Capital per Trade

Although this is not really a trading technique, I feel that this discipline is one of the most important reasons why I make money on Forex now. If you are beginner, it is advisable that you start with smaller trades, because it is at the start where most of your losing trades will come. You don't want to lose too much money while you are still learning from your mistakes.

2. Take Note of both Technical and Fundamental Analysis

You will learn how to master these 2 types of analysis with FX Official, and they are both equally important as they both have a significant impact on how the prices of currency pairs move.

Is the FX Official site a scam? Visit http://www.top-review.org/fx-official.htm to read a FREE report about this Forex training site, or Click Here to Join FX Official!

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Learn Swing Trading If You Do Not Want to Fail in Forex

I believe some trading styles and systems are more suitable for a beginner trader than others. Swing trading I think one of them. Learning swing trading requires much less effort than say scalping or any day trading technique. Usually a swing trade can take a few days to mature. That's why it is easier to control your emotions when you set up a trade and monitor it on a daily basis looking at it only a few minutes a day. The major benefits of swing trading technique for a beginner trader are as follows.

1. Fewer trades - less spreads.

If you compare swing trading with scalping then the advantage of swing trading is obvious. In scalping there is a lot of emotional pressure when trade needs to be executed in a few minutes. Other than that there is a spread between buy and sell prices. Thus it is better if a trader has fewer trades and a large profit target. Fore example if a spread is 3 pips then by entering 10 trades a trader loses 30 pips already. Small profit targets in scalping make it difficult to succeed for a beginner. On the other hand swing trading techniques usually target much larger profit, usually more than 100 pips per trade. You see the difference.

2. Low level of noise on the charts.

If you look at the higher time frame charts like 4 hour or daily charts you will see that a lot of price patterns are easily identifiable. When you switch to the shorter time frames like 15 minutes and 5 minutes charts there is a lot of noise that can prevent you form seeing the right pattern. Random fluctuations are more prominent in shorter time frames. That's why it is easier to trade using the higher time frames and have a trade last for a few days.

3. Emotional control is easier to master.

I noticed from my experience it is easier to control your emotions once you set a trade with stop-loss and take-profit orders and come back to look how it unfolds only for a few minutes a day. As for any day trading technique you monitor a trade continuously. I think you are familiar with an emotional roller coaster when price goes against your position and goes in favor of it. This kind of emotional pressure quickly wears out your energy and you are more susceptible for making trading errors.

4. Part-time trading

Many people start trading Forex part-time. They are testing this opportunity to see if Forex trading is for them. As I mentioned before swing trading requires only small amount of time to monitor a trade. I personally started with day trading techniques that's why I was amazed by ease when I switched to swing trading systems. Don't get me wrong it does requires time to analyze the market but the time required to monitor the trade itself is minimal.

I even know some traders who started with swing trading techniques. When they decided to become full time traders and switched to day trading techniques they started failing because they were not used to emotional pressure of the day trading. That's why I believe that if you want to become a successful trader you should learn a swing trading strategy first.

Albert Schmidt is a part-time currency trader. After quite a few months of struggle he learned to make consistent profit trading in Forex. Review a swing trading strategy he successfully uses in his trades.

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Forex Trading Basics - 10 Commonly Held Wisdoms That Will Destroy Your Account

There is a lot of good forex trading education on the web and a lot which will ruin you. The 10 so called common wisdoms on how to make money don't. This might be why 95% of traders lose, so avoid them and get the right forex education and win.

1. You can Follow a Forex Robot and Win

You can but there are very few robots that do win.

It's an industry designed to appeal to greed and the fact is most of the robots have never even been traded - they are all simulated in hindsight ( check the disclaimer) and never likely to win going forward, as there simply made up knowing the past - How hard is that? Not very. Pay $100 and make $100,000 a year, is not real life!

2. You need to predict prices to win

Prediction is another word for hoping and guessing and wont get you far and you will find your market timing and you're trading signals are as accurate as your horoscope!

Act on the reality of price change on your forex charts and forget prediction - know one knows the future, so trade the reality and the truth and you will have the odds on your side.

3. Buy low and sell high is a Great Way to Make Money

It would be if you could do it but you can't and you will get involved in prediction and also keep in mind this simple fact - most big trends start from breaks of new market highs, so you need to buy and sell higher, to catch the really big forex trends.

If you are not familiar with breakout trading make it part of your forex education if you do, you will catch all the best moves and be in on the high odds trades

4. You Should see if You Can Win With a Demo Account

You might win with a demo account but what does that prove? Nothing, as real hard cold dollars are not on the line.

There is no pressure and forex trading is a pressure industry. To win you have to trade with the pressure on you and demo accounts don't do this.

5. Learn From Your Losses

Learn what - you lost! Big deal losing is part of the game. If you executed your trading signals in line with your system you learn absolutely nothing, don't bother it's a waste of time

6. Continually Learn

If you have a forex trading strategy that's logical you have confidence in and works - why change it?

We all want perfection but it's not possible. I have used the same system for 22 years and never changed it.

Sure, my forex trading system is not perfect but no ones is; it works and makes money and that's good enough for me.

7. Day trading and Scalping Works

Really? Ever seen a day trader with a track record of real profits?

Exactly, there all simulated profits not real ones, just like the forex robots we referred to earlier.

Forget this form of trading, the data is too short to try and work out what millions of traders will do in a few hours is futile.

8. Only Risk 2% Per Trade

Maybe if you have 100k or more but for small potato investors you can't take such small risks as your account will be destroyed by volatility - look to risk 10 - 20% and trade only high odds sets ups...

Better to risk more on these great trades, than low odds trades with 2%.

Most traders try to avoid risk so much they create it - don't make the same mistake.

9. Diversification Reduces Risk

It also dilutes profit potential. If you have a good high odds trade, don't dilute its potential for profit with low odds trades.

Diversification, if you have 100k plus can work but really it's not a way to make a small accounts equity grow quickly.

10. You Need Information Quickly

Why? It doesn't help you win and never will. Everyone has the information quickly, so you can't respond to it or gain an edge, so don't bother trying.

This is one of the biggest myths of forex trading and will make you lose. Stand back and watch the big picture, not the impact of every short term event.

So there you have some currency trading basics, in terms of wisdoms, that are commonly accepted and you should avoid. keep in mind the majority doesn't win so, what most think is true ...well - You know the answer!

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Why Forex Trading is Different From the Stock Market

The foreign trade marketplace is also acknowledged as the FX market or the forex market. Buying and selling that takes place connecting two counties with diverse money is the foundation for the FX market and the environment of the operations in this marketplace. The forex market has more than thirty years of existence. It is launched in the early years of the 1970's. The forex marketplace is a place, not founded on any industry or spending money in any commerce, but on the buying and selling of money.

The dissimilarity between the stock marketplace and the forex market is the huge trading that happens on the forex. People trade millions and millions each day. The total sum amounts approximately two trillion dollars per day. The quantity is to a large extent upper than the funds dealt on the everyday store market of whichever nation. The forex marketplace is one that engages administrations and governments, money depositories, monetary establishments and those comparable varieties of organizations from different nations.

What is dealt, bought or put up for sale on the forex market is something that can straightforwardly be shut down, meaning it can be turned quickly back into currency, or frequently is in reality going to be money. From one currency to another, the ease of use for the money in the forex marketplace is a thing that can occur rapidly for any depositor nationwide.

The dissimilarity between the store bazaar and the forex marketplace is that the forex is international, wide-reaching. The store trade is something that happens only within the range of a country. It is founded on different industries and merchandises that are within a nation; while the forex trade commerce takes that in an advanced step to incorporate any country.

The store marketplace has set business hours. Normally, this is going to ensue the commerce day, and will be closed on Bank Holidays and the weekends. The forex marketplace is one that is usable commonly twenty four hours a day because of the vast enumerate of countries concerned in forex trading. Buying and selling are situated in so numerous different times districts. At the time one market is opening, another national market is concluding. This is the unceasing method of how the forex market traffic happens...

The store marketplace in any nation is going to be founded on exclusively that country's money. Let's say for instance the Japanese yen, and their store marketplace, or the United States store bazaar and the buck. On the other hand, in the forex marketplace, you are occupied with many types of nationalities and different kinds of money. You will find orientations on an assortment of currencies, and this is a huge dissimilarity between the store marketplace and the forex market.

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Investment Gurus In Singapore

The trading/investment gurus in Singapore have been in a high demand in the recent years. They have continued to sweep the markets and making money conducting over-priced courses rather than profiting from their actual trading.

Thanks to modern telecommunications, the guru manias spring up faster now than they did decades ago. Even intelligent and educated traders follow market gurus, like staunch devotees of the Doomsday Cult in Japan

I would like to share with you the market truth, and urge you to think twice, before putting your signature on the enrollment form.

There has been a high percentage of guru followers in the markets since the time financial markets started, and these people worship their equivalent of a semi-god... Until the bubble has burst, then they will find another super star guru to worship.

For newbie, investing and trading seem complex and mysterious. This type of Gurus likes to perpetuate this myth so you'll enroll in their "Superstar" courses at ultra-high prices. They want you to believe that there is a super-magic formula to "trade like the pros in the banks". This is not true! The real professionals in the banks trade with simple trend and momentum trading systems with sensible money management skills.

These Magic Formula Gurus usually charges you super high prices to trade with them, high fees for newsletters, and produced endless flows of theories. They are so good at motivating the audiences that created a group of followers.

Ironically, these followers themselves are not making any real money. Some even become their freelance salesman in hope to learn more from the gurus. I know of one such guru who organize a trading trip to Bali, and guess what? Almost 90% of the followers busted their trading account!!

Traders are always looking out for a cutting-edge trading tools or better methods over others. They are like medieval knights shopping for new weapons or armor to kill the monster

Many such Gurus make use of marketing hype to make unrealistic promises to lure the greed in their audiences. I have personally known of one such Forex Guru who over-hypes his credentials. He even claims to trade for the banks and coach professional traders in SGX. In the actual fact, he is just an order taker for a brokerage house and used to voluntarily coached retail traders in SGX. Their seminars are usually very impressive and convincing. They may even engage a Caucasian (Ang Moh) to motivate the audiences.

Sebastian Sim

I'm a 31 year old Singaporean. Who started my trading journey since 2004. Now, I focus mainly in Stock Options, Forex and Unit Trusts(Mutual Funds) Investments. I've started a site The Trading Zone - a site about trading pyschology, Forex trading, investments and other topics that interests me from time to time.

http://sebastian-sim.blogspot.com

Bloomberg - Oct. 3 (Bloomberg) -- Congress passed a $700 billionfinancial-market rescue plan designed to unlock credit markets,reversing a rejection that sent global stock markets plunging andthreatened to worsen an economic slowdown.

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