Why You Are Always in the Wrong Side of the Market?

If you have been trading for sometime now, you will definitely know how it feels to be on the wrong side of the market. In fact, there is nothing more frustrating than seeing your trade moving closer and closer to your stop loss as time goes by.

So what exactly is drawing you toward placing a trade that is opposite to the movement?

From my years of experience trading currency, the key factor that draws traders into placing trades that eventually went wrong is their inability to identify a trend.

Most trader claim to be able to identify the trend but they are usually looking at trend on the lower time frame. In fact, what is really important is the trend in the higher time frame like the hourly, daily or even weekly.

Think about this, if the daily chart is in a downtrend. One short candle in the daily chart is equivalent to 24 candles in the hourly chart and it will translate to 96 candles in the 15 minutes chart. (Do you see the power of the higher time frame now?)

Therefore if you are constantly experiencing loss trade due to yourself trading in the wrong side of the market, you can now begin to look for long term trend on the higher time frame and then place trade that are in the direction of the trend.

Here is a tip for you to identify trend on any time frame:

1) Plot a 50, 100 and 200 Exponential Averages

2) If they are stacked nicely in a particular direction with good angle and separation, this usually indicates a good trend

3) If they are cluttered together and flat, this is a sign of consolidation.

Try this out on your chart and see if it works.



Source by Kelvin Dee

4 Benefits of Attending a Forex Training Seminar

You’re ready to take your day trading efforts to the next level, and you’re following the markets like a hawk. But what’s the next step? How can you truly elevate your returns and start making a real profit? You might consider a Forex trading seminar.

Trading seminars are like short courses that include lectures, live trading sessions, and Q&As with experienced Forex traders and teachers. For you, a trading seminar might be the perfect fit. For starters, there are online and in-person options; you can have the flexibility of attending from your own home. And seminars aren’t as time-intense as day-trading courses, which although great, might require a commitment of week or more of your time. Finally, seminars are perfect for connecting beginners with experts.

Still on the fence? These four benefits of attending a Forex trading seminar might change your mind:

Network with Fellow Day Traders

Day traders at all levels – from beginners to experts – attend Forex training seminars. Why? They want to learn and expand their knowledge. For you, that means you have an opportunity to connect with Forex traders who are more experienced than you. That’s extremely valuable in and of itself. Having someone you can connect with for advice or meet for coffee to discuss strategy can help you improve faster.

Yet, you’ll also have the opportunity to meet traders with differing strategies and ideologies. Sometimes, hearing another perspective or a different take on trading can make all the difference, helping you to expand and enhance your Forex returns.

Accelerate Your Forex Learning

Forex trading is not a get-rich-quick investment opportunity; there’s real risk involved when you invest in currency trading. That’s why it’s critical for beginners and intermediate traders to continually expand their knowledge. A Forex training seminar can be a fast way to jump start your learning, and in the process, help you minimize your risk.

Plus, some Forex seminars focus on hands-on learning. They may provide attendees an opportunity to live trade in a safe environment. If you’re a person who learns by doing, live trading seminars can be eye-opening experiences, providing you valuable real-world experience with an expert close-by.

Ask Questions and Get Advice from Experts

As a beginner, chances are you have questions about Forex trading. Yet, it’s not always easy to find those answers on blogs or in books. The ability to ask experts and fellow traders questions is one of the greatest benefits of attending a Forex seminar. You get answers faster, but also have the ability to ask follow-up questions to further your understanding.

Additionally, many Forex training seminars provide in-depth knowledge of the latest Forex strategy, trends, tips and advice. So for you, not only can you learn from experts about the most useful strategies; you can stop and ask questions about something a presenter says.

A Low-Cost, No-Risk Learning Opportunity

Typically, seminars are more cost-effective compared to Forex courses. In fact, many Forex seminars, especially those hosted online, are free. And free is always great! But even Forex seminars that cost money to attend are typically a better value compared to courses. So if don’t have the time or funds to take part in a course, a Forex seminar might be a better alternative.

Have you changed your mind? Do you want to attend a Forex training seminar? Learn to Trade hosts a variety of seminars and Forex courses. Attend our Learn Forex Seminar to connect with experts and day traders, ask questions and accelerate your learning.



Source by VS Singh

Forex Money Management – How Do I Go About It?

If you’ve read my earlier articles, you’ll know that I consistently stress on the importance of money management because good techniques and setups alone won’t save you from bad money management. So it only makes sense to know what good money management is. Fair enough?

Ok, let’s move on to the good stuff.

Money management with regards to trading is pretty broad and can cover several topics. I’m most concerned with trading sizes and monthly maximum drawdowns here.

Being a very conservative trader, I always tell my fellow traders and students that I trade with a true positional leverage of just 1:2. I never fail to get shocked looks from them. And I can tell that they are in disbelief because they feel you can never profit sufficiently with such leverages. Nothing can be further from the truth. It’s about capital preservation … I’m sure you’ve heard about it before.

This means that if I wanted to trade standard lot sizes, I need to ensure that I have at least $50,000 in available equity. Here’s my secret formula … Lot size to be traded = Total Capital / 5000

Got it?

Ok, now let’s spend a bit of time talking about max drawdowns in a month. Different traders have different mental sets and levels of aggressiveness. For a long time running, I’ve always been using 5% as a guideline for my monthly maximum drawdown. That means if I start the month with $5000 in available balance, should I ever hit a loss of $250, I will not allow myself to take another trade until the next calendar month.

This will train your trader’s muscles which can only help you in the long run. Hope this little article has helped you somewhat. As always, good trading!



Source by Kelvin Chan

How to Neutralize Forex Dangers

Every new comer to the Forex market losses his or her hard earned money. People come to the Forex market to double their dollars over night but end up with losing that. Yes, money can be made by currency trading, but if you do not do that with proper caution then you would definitely lose money and there is no doubt in that. Before starting to deal you should be aware about the dangers of the Forex market. In this article, you will find the dangers you have to face in the market and tips on, how you could successfully mitigate those dangers.

If you trade currency pairs blindly then you are going to lose your hard earned dollars, without any doubt. You should have a complete knowledge about the Forex market and working trading tools to reap profit from the lucrative market. There are many thing to know about the speculate; technical analysis, fundamental analysis, how to use leverage, chart pattern and many more. After having knowledge in these things, you can be a successful currency trader.

You have to devote sufficient time towards trading, if you want to develop particular skills. You can enroll yourself any Forex trading courses provided by any broker. By attending these classes, you can have an idea about the systematic approach to the Forex trading. If you are thinking that you can learn the tricks of earning money in the market by trial and error method, then you may lose all your money before knowing how to trade Forex.

After completion of account opening formalities, it is time to choose the currency at which you will trade or buy Forex. Now your journey begins here. From the very first day you have to make a plan of risk reward ratio. You should take this step very carefully; here your algebra knowledge will help you most. Profit totally depends on the risk reward ratio. If you are taking more risk, you are gaining more and if you are playing at minimal risk, gaining minimal. It is not advised to take more risk each time. If you are taking more risk, then chances of loss is higher. So you should have some calculated amount of back up to fulfill the loss amount; so that you can play according to your game plan further. Otherwise you will feel helpless at the middle of the game.

Some brokers advertise that it is very easy to learn the Forex trading–even a breast feeding child can do that. Do not believe in such kinds of advertisements. They also claim that, by using their trading software you can make millions of money without any effort. That is completely wrong. The software can guide you trough the Forex market, but can not generate profit for you. So, do not believe in this kind of false advertisements; otherwise you will end up with losing your money. Try to be aware of every pros and cons of the Forex market before starting trading.



Source by Michael Allen Smith

Forex On Autopilot: Easy Ways of Forex Trading

The foreign exchange market is often called forex. It is also referred to as currency market. It is an inter country financial market for trading currencies across the world. Buyers and sellers across the world win as well as loose from the rise and fall in different currencies. It depends on how good one can speculate the relative currency price. The better the calculations, the better are the chances of getting good fortune in this currency market. Forex on autopilot system is a very advantageous way to manage your forex investments.

For any forex investor doing analysis and watching trends is a regular exercise. For someone who is seriously involved in forex trading, it is a full time job as you have to spend a large amount of time speculating the market and evaluating the potential of different currencies. The forex on autopilot system reduces the full time involvement of the individual in research and analysis to a large extent. It has time tested strategies with good return on investment record already devised for the user’s need. The forex on autopilot system also has an inbuilt mechanism of constantly monitoring trades. So you need not spend sleepless nights while you have an open position in the market. You can very well understand how easier it makes your forex investments. The main pain points are being taken care by the forex on autopilot system. As the forex on autopilot system is devised with intelligent strategies and can help to centrally control over different strategies, therefore you can diversify your investment via different trading techniques. This will in turn diversify your risk. The system can be extremely opportunistic to get the advantage from any kinds of markets be it a ranging market or a choppy market. It can help you equally in trending and retracing markets.

With all the automated and intelligent tools, it is a complete system dedicated to manage your forex investments. It will ensure that even with a minimum input from your side it will be smart enough to manage your investment almost guaranteeing you with a respectable profit. However this does not mean that it takes all the control in its hands. You will still have the final control in your hand. You will still be able to test your own strategies and do manual trades whenever you wish to. This will ensure that you get the maximum opportunity to profit and improvise via the forex on autopilot.

As you very well know that like most trades forex trading is not completely risk free, however tools like this can minimize the risk to a large extent. The truth that you have to accept is that even if you take the help of the most knowledgeable trader you cannot be absolutely certain of the outcome. At some point you will very well understand that predictions however logical they maybe, can become false due to odd unplanned events. This is not in your control and is neither in control of the forex auto piloting. The system will help you no doubt but it cannot guarantee you profit and neither can even the wisest of the traders.



Source by H Al

An Economics Education by Bitcoin – Part I

For those unfamiliar with Bitcoin, there are better ways to begin understanding it than this article; I’d recommend Wikipedia for starters. This article is intended for those who already think they know what Bitcoin is, but haven’t yet traded in it. I was there – I thought I comprehended it, too, but having since dipped my toe in the pond, I’ve discovered an unexpectedly enlightening experience. There are so many nuances involved in the trading of Bitcoin as to make it tremendously educational. It forced me to consider a lot of the built-in features which go unscrutinized and even unrecognized in traditional currencies. In so doing, it made me assign my own values to those features, and allowed me to decide the most preferable ways of satisfying my various needs – choices which are normally taken from us.

There are aspects of Bitcoin which make it similar to fiat currency, but it is not cash. There are aspects similar to gold, but it is not bullion. There are aspects similar to securities, but it is not exactly a security. The question of “What is it?” is actually much more complicated than it appears. It exists solely as an entry in a distributed digital ledger; “having” Bitcoins really means having authority to transfer Bitcoins. No, in fact, that’s not even technically correct. It means having a degree of authority measured in Bitcoins to transfer that very same authority. Try to wrap your brain around that. Going forward, I’ll resort to referring to Bitcoins as the thing of value which is transferred, but understand that my doing so is solely shorthand to make this essay readable. Having Bitcoins is the authority to transfer authority.

Thus, upon deciding to acquire my first Bitcoin, the first step was to determine how to attain authority to transfer Bitcoins. One could theoretically print out the cryptographic code of a Bitcoin and hand the paper to someone else as a means of transferring the Bitcoin represented by the code, but how would that recipient know that the printout hadn’t been duplicated and already spent? For that matter, how would the recipient know that the printout even represented some value in Bitcoin rather than merely a string of random characters? Transferring printouts of Bitcoin on paper may work (albeit inefficiently) between people who implicitly trust each other, such as for gifts between relatives, but the genius of Bitcoin is the distributed but authoritative nature of its ledger, and for that to work, transactions have to be exposed to its network.

If a Bitcoin printout is transferred around amongst a group of people without being exposed to the network, none of them would know whether it was valid or counterfeit. It would be like passing around a bank draft made payable to “Bearer;” it might have already been paid, or it might never have been good in the first place. No one would know until they tried to present it for payment at the maker’s bank. As long as someone else is willing to accept a potentially-hot potato for goods or services, perhaps it doesn’t matter, but people tend to be wary of ending up with hot potatoes. I am one such person, so I wanted my receipt of Bitcoins to be verified by the network. This turned my focus to a study of digital Bitcoin “wallets.” Wallets are a digital place to store Bitcoin authority codes.



Source by Brian Blum

Getting The Most Out Of An Online Education – Some Study Tips For You

For most people today, taking an online course can be the most convenient way for them to get a degree or to enhance their current knowledge and skills. But online learning will require time management skills, willpower, very strong motivation, and self-discipline. It can be a very challenging task to finish an eLearning course.

Some Study Tips For Online Learners

Be aware of some online learning practices. You must know that online courses aren’t the easiest way for you to learn but the most convenient one. For you to successfully learn, you must dedicate a considerable amount of your time to attend the program. Moreover, you must fully commit and focus on the learning process, similar to what you would be doing if you are taking up a regular course.

Know what to expect. When taking an online course, you might be expected to become tech-savvy, work with others efficiently, be self-disciplines, and complete all your tasks and assignment on time.

Make sure that your Internet is reliable. Tech issues always happen. To avoid any mishaps, you have to ensure that you always save your work repeatedly. Most importantly, you need to backup all your documents using cloud storage so you can be able to have access to them from your tablet or other smart devices anywhere and at any time. With a reliable Internet connection, you can stay current with your course as well as deal with any sudden changes in your schedule.

Have a devoted study space. Regardless of whether you decide to study in your office or living room, make sure that this place is free from distraction, organized, quiet and available for use at any time. Find a study space where it enables your study routine. It is very important that you turn off your phone of log off all your social accounts when studying. The main point is that you need to study uninterrupted.

Build a study plan. This is very critical, whether you are studying online or in a traditional classroom setting. Online learning must be structured so consider creating a calendar that will help you remember all significant dates and a to-do list for each week. Indeed, this is a great way of prioritizing your study plan as well as staying on track with your studying. Most importantly, you need to stay on schedule.

Take some breaks. When you are feeling frustrated whilst studying, your performance will definitely be decreased. So consider taking study breaks. You can have a change of scenery.

These study tips can work efficiently with online learners. This will help make sure that your online learning is an enjoyable eLearning experience.



Source by Sophia Garrison

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