Why Trading Mini Accounts Is The Fast Track To Failure

This is something I’ve been wanting to write and share about for a long time but it’s only now that I’ve brought myself to share and I wonder why. Oh well …

A lot of newbie traders are told each day on the web via advertising that forex is the fastest track to wealth (and I’m not denying that to be true … but that’s only for the elite few). And the people that are responsible for getting this message out are the scammers and some of the forex brokers out there unfortunately. Here’s the thing though, forex is extremely lucrative for these fx brokers.

Wanna know why?

Because … they strive to get lots of new people hooked up and get started with forex trading via mini accounts. Mini fx accounts offer crazy leverage and allow one to get started with live forex trading for either $250 or $300 (which is a measly sum for most).

With such a low amount, it is much more easy for someone who wants to get started to actually get started doing so.

With mini accounts, each pip you make or lose results in a dollar gained or a dollar lost. Now think about for a sec, with just $250 or $300 in your mini account, just how many pips can you afford to lose before you wipe your account dry?

Yep, it’s either 250 or 300 which isn’t a lot actually when you think about it. If you lose 25 pips for each bad trade, it takes you just 10 trades to clean up your account. Bad odds for you, great profits for the broker.

Bottom line … Mini account = Fast Track To Failure



Source by Kelvin Chan

How to Discover a Winning Forex Strategy

With the economy still lagging after the Great Recession, and high unemployment, everyone is looking for a way to earn an extra income. One of the most intriguing methods is in the Forex market. This writer has found a winning Forex plan, would like to share it with readers. This is not intended in any way as financial advice, but as an experiment for you in order to see this software in action. First, download a free MT4 platform from a Forex broker. Second, download the “nld” indicator I’ll tell you about. Third, install it into your MT4 trading platform.

* Invest in the right currency pair in the right time frame

* Invest in small amounts; don’t get greedy as some investors do.

* Use a reliable indicator to know when to execute trades.

* Learn from the experience of others who have been doing this longer.

* Expand your horizons and keep learning all you can about the Forex markets.

These are a few tips on forming a winning Forex system. However, moving beyond the personal use of this Forex method, this may also be used on a wider scale if one cared to do so.

The earnings from this winning Forex method could be used to alleviate suffering of victims who have experienced floods, hurricanes, earthquakes, famine, and a number of natural catastrophes.

But first practice what has been described here as only one of several winning Forex strategies.

Start with a Demo account, practice and keep practicing till you have mastered these techniques.

Finally, never stop learning.



Source by Bob Gruhl

10 Most Frequently Asked Questions on Forex

1. What is the best Forex platform?

There is no one way to answer such a question. This will of course depend on the trader, in accordance with his preference, knowledge, experience as well as what he intends to trade (which financial instrument). Many intermediate-experienced traders, especially when trading on the currency market, prefer to use platforms such as MT4 or C-Trader which are designed mostly for Forex trading, as well as CFD trading, and for someone with some knowledge of the trading market.

Others, more novice traders would prefer the use of such platforms as ones found from Easy-Forex, iForex, or eToro, where limited math/ computational knowledge is required for their use and are a lot more straightforward to use.

More advanced/ experienced traders, which may also prefer access to multiple markets would prefer to use such brokers as Interactive Brokers or SAXO Bank’s SAXO Trader. Such platforms usually contain much more advanced charting/ analytical tools (although to be fair most analytical tools can also be obtained from MT4/ C-Trader) and also give access to thousands of instruments including Equities, ETF’s, Swaps trading etc; and are designed with the ability to effectively allow traders to partake in such markets.

2. Forex Trader: What is the best way to do forex trading?

If you’ve looked into trading forex then you have most doubtable been exposed to all the various opportunities to make money and are wondering which is the best way to learn forex trading. First of all, the foremost thing I would advise is to get a Forex Education. There are countless material on Forex in the internet for newcomers as well as experienced traders – all you need to do is search. Spend some time reading up on how forex trading works, the concepts behind trades and how prices are impacted by economic and political conditions.

Secondly you must get some experience, if you want to learn forex trading, it’s the only way. To begin with it is prudent for this to be on a demo account. This will give you a good technical foundation on the mechanics of making forex trades and get used to using a trading platform.

After having traded for some time on a demo account it is very important to also use a Real one, albeit with little investment amount – find a broker that will accept lower sized trades (0.01 lots for FX) so that you can get a real feel for the live market. It is a whole different game trading on a demo and real platform, due to the psychological effect that trading with real money has. Trading small will allow you to put your money on the line, but at little risk if you make mistakes or lose money.

From there, provided you are gaining more than you are losing, you should gradually increase your trading size and invested capital, always keeping in mind it should be an amount you can afford to lose and which you feel comfortable with.

3. What is the best forex trading software?

There are a number of Forex Trading software available, all with their specific advantages and disadvantages. Many trading companies have built their own platforms while others prefer to use, and in effect White Label, existing solutions which are commonly known within the industry.

To say which one is best would be invalid as this falls on the opinion of the individual user, however there has been a clear trend in terms of popular platforms, which have proven to be favored among both novice and veteran traders. These platforms are the Metatrader 4 and C-Trader. The former has been built primarily for Forex products, while the latter has been designed to accompany other instruments such as Equities and ETF’s. Both platforms are easy to use and master and come complete with full charting and technical analysis capabilities.

4. Forex Trader: How can one be a good forex trader?

If it was to be summed up in one word, the key to a good forex trader is discipline. Yes there are many things to learn and know before you make any trades or get involved in the financial industry, but one thing that must stay consistent throughout is discipline. Discipline in learning, in making your first trades and in sticking with your plan.

The basics that all new traders should follow are:

– Learn about Forex – there is an abundance of material on the net. Spend a good 1 month learning. Study Technical and fundamental analysis. Your learning should continue well into your trading and be ongoing.

– Come up with a strategy – Set rules that will determine your trading pattern and how you will enter and exit the market.

– Practice on a Demo – Open a demo account and trade as if for real. Of course this will not be ‘exactly’ as if you were trading on a real, due to the fact that fear of losing would not weigh in on your decisions. Do not proceed to the next step unless you can make a profit on the demo first.

– Practice on a real account with small amount – Do this so as to be able to understand the difference between trading with real money and trading on demo. Do this with substantially a small amount, but enough so that you are concerned over losing it.

– Trade on real account with substantial amount – Do this with an amount you are ‘comfortable’ to completely lose. Even if your strategy worked on the demo and on a real with a small amount it may not continue to do so in future. Stick to your strategy (have complete discipline). If you see the strategy is failing, then adjust your strategy accordingly, but stick to it (to the pip) at all times once it has been decided.

5. Foreign Exchange Market: Is it possible for an amateur forex trader to make sustainable profits trading forex?

Many Traders have made a living off of trading Forex and some have had very wealthy returns which have allowed them to become self-employed and leave the 9-5 work behind them. All of these traders have 1 thing in common – they all started out as an amateur forex trader! No one is born with the trading know-how; it is achieved through dedication and discipline.

So Yes! an amateur forex trader can indeed make sustainable profits from trading forex. As long as he is willing to put in the effort and has the discipline to follow through with such a commitment then there is no reason why he cannot do what others have done before him in the same shoes.

6. Forex Trader: Who is the best forex trader?

There is no one best Forex Trader – or at least there is no clear way to measure this (is it the amount one has won or the % gained from it). Also as many of the top forex traders in the world do not trade with their own money but instead funds and Company capital, it means that different psychological and risk appetite conditions exist for different traders and as such makes it bias to compare such traders success with those who trade with their own capital.

The one thing to know is that what a lot of Forex traders do have in common is their appetite for success, their diversified portfolio and willingness to take measured risk.

7. Has anyone ever made money trading FOREX?

Yes! Not only have people made money trading Forex but many have made a livelihood!

Although the majority of retail traders would not have as much success as professionals would, this is largely attributed to poor money management strategies and lack of discipline in sticking with their strategy.

With 100% discipline and a good money management strategy, there is no reason why anyone should not have a good chance in making money from trading Forex.

8. Is FOREX the best way to invest money?

It is hard to say if it would be the Best as there are numerous ways of investing money and would largely depend on what the individual is familiar with; however it is one of the best, largely to the fact that unlike stocks/ housing market – an investor can make money regardless of the how the instrument is doing by both selling/ buying that instrument (or doing both – known as hedging).

In the Stock market it is only possible to invest in the success of a stock – however in Forex you can both buy/ sell a certain currency against another and hence there is always a possibility for profit to be made.

Also the fact that Forex is commonly traded on leverage, it allows Forex trading to become one of the most volatile and hence allows for higher profits (as well as losses) to be made – if traded correctly.

9. Foreign Exchange Market: What are the best forex blogs?

There are a number of locations on the web to find a great forex related blog, in fact many brokers have their own blogs also; but in order to remain unbiased I will recommend a non-broker blog. One of the most useful blogs for both novice and veteran traders alike is at babypips.com – there is a regular update on current market movement as well as an abundance of information and back-forth ideas being expressed.

10. Why do individual investors usually lose money in Forex?

The majority of retail investors end up losing money in Forex. In spite of the fact that they may receive the right training and educative material (or at least the same as some other successful traders may receive) many often fail due to bad money management rules and/or lack of discipline. The latter is the most often.

The hardest thing in Forex is not making the calculations or predicting where to enter, how much to trade and/or what your limits should be; it is sticking to your strategy and following through with 100% discipline.



Source by Matthew N Stamper

Forex Trading Training Course

A successful forex trader is often a product of a good forex trading course, either from a real classroom or virtual classroom. If you want to be one, you must consider the potential in the Foreign Exchange (FOREX) markets, so you know that your best chance to get your share of that potential is by getting a good forex education.

What future behold in the life of a forex course graduate then? A forex trader basically:

1. Earn his financial freedom

2. Get the opportunity to be the boss of his own business

3. Get the chance to work at home, having more time to spend with his family

4. Own his time, and work as he schedules

In order to be among the successful forex traders, you need to undergo extensive trainings.

Experienced professionals have gone to forex courses where they have learned:

1. The basics of common trading, money management, and technical analysis

2. The strategies on locating and executing profitable trades

3. Thinking and acting like a professional forex trader

4. Developing his own trading style

Learning forex basics requires time and effort. You can enroll in academies/schools that offer courses at reasonable charges. You may choose getting online courses but it will be better to have interaction with real instructors, with whom you will communicate face to face. Additionally, there are more advantages in learning from a real classroom, where you can also find your future business partners. Nonetheless, if you want the ease of online education, it won’t be a bad alternative at all.



Source by John F Smith

Money Earning Foreign Exchange Recommendations For You To Use

Be very careful relying on another trader’s advice. You need to be sure that this advice will benefit you, not cause you major issues that will be near impossible to fix. You can observe their methods for trading analysis and learn how to do it on your own though. Blindly following another person’s strategy can lead you to major losses, so you may want to think twice before doing so.

Do not start in the same place every time. Some Forex traders will open with the same size position and ultimately commit more money than they should; they may also not commit enough money. You must follow the market and adjust your position accordingly when trading in the Forex market.

In order to make money in foreign exchange trading, it is necessary to keep your emotions in check. Do not do a trade if you are excited, nervous or angry because this will prevent you from making logical decisions. If you are experiencing these emotions, it is best to walk away and trade when you have a clear mind.

If you think you can get certain pieces of software to make you money, you might consider giving this software complete control over your account. Passive trading using software analysis alone can get you into trouble. You need to be the active decision maker. You will be the one paying for losses. The software will not.

Emotion should not be part of your calculations in Forex trading. Making trades based on emotion will increase the risk factor and the odds that your decisions will be without merit and prompted by impulse. You need to be rational when it comes to making trade decisions.

One of the first decisions you will need to make when you begin trading on the Forex market is on what time frame you want to trade. To make plans for getting in and out of trades quickly, rely on the 15-minute and hourly charts to plan your entry and exit points. Extremely short charts such as 5 or 10 minutes are commonly used by scalpers.

Right now, you can use a tool such as Forex Robots, or wonder methods. This will allow you to do basically nothing. Your trades will all be chosen for you, and you will just have to sit back and watch your money grow. Get comfortable and make some money easily!

If you are looking for more information about the Forex market, you have come to the right place. This article will give you the best information about the foreign exchange and the rates that it deals with. Don’t be confused any longer, this is where you need to be to fulfill your need for knowledge.

Learn about fundamental analysis, technical analysis, wave analysis, and complex analysis. These are the four primary ways of forecasting the Forex market and building your currency trading strategy. By learning about each of these you are better prepared to develop multiple successful trading strategies to avoid losses and improve gains.

If you are going to begin trading Forex in the hopes of making money, you need to know yourself. You must understand your risk tolerance and your personal needs. You must analyze what your personal financial goals are in relation to trading Forex. To know the market, you muse know yourself.

When participating in Forex trading, you should never participate in a trade if you feel uncomfortable about it. One big reason for this is, if you are not comfortable about a certain trade, you will likely not have the patience that is needed to make a profit on that trade. Therefore, only participate in trades you feel comfortable trading.

Find the right broker. It can be hard to navigate Forex waters if you don’t know what you’re doing and so a broker is an obvious choice; but even when you know Forex you need a good broker. A good broker will give you good information, expertise and guidance that will help you make money.

A wonderful tip for trading Forex is to start with small amounts, and a low leverage. Some people think that a bigger account will bring your bigger profits, but that is simply not the case. With these large accounts, a lot of people end up putting up a lot of money, and don’t see the return they are expecting.

Choose one trading process that you understand completely and stick with it. Don’t mix up elements of various strategies. This is a recipe for failure. The only reason it works for financial institutions and investment houses, is that they have plenty of money to lose, advanced computer software and aggressive research teams.

When participating in Forex Trading, one of the important tips to follow is to survive. The traders who stick around for the long haul are the ones who will be there when the “big moves” appear. If you’ve had losses, a “big mover” could possibly compensate for those losses and more.

In the world of Forex, there are many techniques that you have at your disposal to make better trades. The world of Forex has a little something for everyone, but what works for one person may not for another. Hopefully, these tips have given you a starting point for your own strategy.



Source by Artur Aghajanyan

James De Wet New Forex 360 Course is Now Live

James de Wet, the well known south-african trader, has just launched his latest Forex course, called Forex 360.

You might have heard about James de Wet, he’s the one who is doing his live challenge: taking his live account from $1,800 to $50,000 in only 14 months. If you have a computer and an Internet connection, you can follow him in his weekly webinars, and see every single trade he takes, at the very moment he enters the market (and you are free to follow his advice, of course).

Anyway, going back to Forex 360 Course, it is carried along 7 weeks, packed with content (videos plus pdfs). James de Wet has made sure to include all his knowledge in this particular course, from many years of Forex trading experience.

In Forex 360 you will be learning the successful G7 System in detail, how to setup the charts, indicators, entrance signals, when to take profit, etc. Even when this is the main system, you will get two extra profitable trading systems: T24 end-of-day system (which takes about 5 minutes a day) and the 5120 System, developed by James de Wet himself. All the trading systems are explained in detail, with several sample trades and charts.

Even if you are a complete newbie, or if you have some trading experience, this course is probably going to help you improve your trading and reduce your mistakes. You will be learning things like:

  • The main Candlestick patterns
  • How to make use of Fibonacci retreatments for your profit
  • Risk / reward ratio. What it is and how to benefit from it
  • Scalping versus Swing Trading
  • Top mistakes that every trader should avoid
  • Why your mindset is more important than the system
  • Where to place your stop loss and profit level
  • How to benefit from compounding and leverage
  • And much, much more

Additionally, you can join his live trading charter group and join him in his weekly webinars, in which James de Wet will trade his live account in front of all his charter group, and you will get the chance to ask him anything you want, plus you will get an explanation about why he enters the position, where and why he places the stop loss, where to take profit, etc. I can guarantee you that just by copying his trades (you will be able to see his screen all the time) you will make money, it is a no-brainer!

Check out a more detailed review here: James de Wet Forex 360



Source by John W Dennison

The Ultimate Forex Expert Advisor Software – Solves All Your Trading Doubt

Trading is a good way to increase your fortune. People who want to do efficient trading use a trading platform to enhance their chances for success. Nowadays, the system of trade has been improved. You can perform trades using a robot. It gives you the ability to trade using an autopilot mode. This kind of trading option certainly made a buzz in the trading industry. However, some experienced traders raised concerns about using a robot to perform trades.

Using one robot doesn’t simply cut it anymore. That is why the Forex Brotherhood developed a way to make things easier for traders to transact business. Availing of their services would help you minimize the probability of losing.

Acquiring their service would mean that you will have an online access to their seasoned traders. They will give you the necessary education you need to make sound decisions. The advice they make is based upon their 20 years of experience of being a trader. Their advice and tips would give you the necessary methodology to use when performing trade. In this way you could make good strategic decisions.

Enrolling in their program will not only make you a trader but also an apprentice to the veteran traders. You will be able to participate in their 45-minute online discussions and the seasoned traders will educate you on the essential aspects of trading. In this way you would be able to acquire the tips you need, to get an edge on trading.And also you will get more confident to stake your actual money.



Source by Garima Bajoria

Forex Trading Course – FX Market Course System

Many people are looking to profit using Forex trading systems and FX courses. What system works best and who are the real experts? Confusing sometimes… but education is the key because as a forex trader – you are competing with other international FX traders and investors. Many of those with course education, Mentor Traders and more.

What is the Forex Market?

The Forex or FX market is basically an over the counter trading exchange of currencies that effectively runs 24 hours a day. Any exchange like the Forex that does run “round the clock” will have auto trading systems, courses and trading mechanisms that can allow a trader to profit literally while he sleeps… if the person knows the system and the exchange.

Individual traders and larger institutional investors trade on the FX market. For many single traders, learning how to profit using an auto system is a way they can compete with larger traders. These bigger investors include:

Banks

Investment Bankers

Futures Trading Firms

and much more

Trading international currency can also be fun!… if you know what you are doing. Most people who take a course or buy a Forex trade system seem to find their profit results increase greatly.

FX Systems

Yes there are many “experts” in the Forex market and promote numerous FX trading systems and courses. Some of these course systems are online and produced by actual Forex traders. The main thing investors and traders should look for before buying these courses and auto robot systems is actual statements, real testimonials and low price for the course itself.

With the competition as it is, Forex course writers are delivering great products to out-do the competition. The Forex is also a global exchange so there are a tremendous amount of investors. Many making 300% or more auto profits and many not making anything. The FX auto trade systems that are available can be VERY impressive – but listen or view the products.

Visit: Forex Course Systems

Happy learning and Trading!

American Investment Training



Source by Nick Hunter

Is Bill Poulos’s Forex Profit Accelerator Course For Real?

The Forex Profit Accelerator course is marketed as an industry leading course, one which can turn even a new trader into a well oiled machine, capable of creating a steady stream of wealth in Forex trading. Is this true or is Forex Profit Accelerator a scam?

Before I touch upon the course itself, let me just say a few words about the creator. I’m referring to Bill Poulos. Anyone who is into Forex has heard about Bill Poulos as his Forex and investment training is considered top notch and he enjoys a reputation for excellence which not many other traders can boast of.

This reputation stems from 2 roots:

1. He is immensely knowledgeable in the markets as a 30 year veteran trader.

2. He is excellent at teaching what he knows to other people. This is really the key. It’s not enough to know how to make money yourself, you need to be able to pass on that knowledge. Bill Poulos certainly knows how.

This brings me to Forex Profit Accelerator itself. As someone who has this course himself, I can say without a doubt that this course is the real deal. Not only is the trading systems he teaches are excellent, but your entire method of trading Forex will change after you go through this course. Instead of relying on useless tips, tricks, useless programs and tools, you will have such an in depth knowledge of how the market works that you will not need anything else to make money in Forex.

But it doesn’t stop there. What Forex Profit Accelerator will show you is how you can have the lifestyle of a successful trader. Instead of spending hours in front of the screen, checking endless charts and reading useless articles, you’ll be able to come up with a complete trading strategy for the near future in just 20 minutes a day.

In getting Forex Profit Accelerator, you will not only be helping yourself to make more money but also to have a lot more free time. This is truly the best way to get a Forex education and become an expert trader.



Source by Jonathan Gibson

Educate Yourself With a Good Forex Trading Course

Online forex trading is fast rising in popularity and with this comes the numerous forex trading courses offered to a lot of aspiring forex traders. However, although these courses come in abundance, not all of them are worth buying for. For you to become a good forex trader, you need to educate yourself by means of having the best forex trading course out there.

In choosing a forex trading course to buy, you must consider the content of the course. It is good to ask why such manufacturer sell the forex trading course. See if it will really help you make hundreds of dollars. You should ensure that your money will not go into waste, thus, making sure that the forex trading course you are about to purchase is worth buying for. You should realize that the majority of these courses are just junks and that they would most likely to rely on the advertising rather than the effectiveness of the course. As a forex trader, don’t just fall easily on flowery advertisements. Always look for good brands that will assure you of good quality of forex education.

If you want to test the effectiveness of the course, ask the vendor for real time tracks and if they cannot give you anything, then it’s not a good forex trading course to buy. Remember, although these trading courses will help you a lot in your forex trading business, no one is going to make you rich except yourself alone. What you can do is to buy a reputable forex trading course, and do your part of being a good learner in such case.



Source by Timothy Stevens