What Are Forex Micro Accounts?

In forex trading, a small mistake may turn into be a big disaster very quickly. Just when you think that you’ve made it, the system can prove you wrong and you may end up losing your money. For successful currency trading, you need to possess several basic skills. For instance, you should have the ability to keep your head clear even when the exchange rate prospects do not seem to be in your favor. The best solution to this problem is to start trading with a forex micro account, if you are a beginner.

Understanding a Forex Micro Account

A standard forex account requires you to have at least $1000 in deposits to start trading. A forex micro account is one that allows you to begin trading with just $25. There are a number of forex microaccount brokers in the online market now.

One of the biggest benefits of opening a micro account is that it enables market participants to trade in much smaller increments. A micro lot carries 1000 units of the base currency, which is a significantly smaller than the 10,000 units in a mini forex account and 100,000 units in a standard account. Most forex micro account brokers have strict limitations on the trade volume and deposits.

Forex Micro Account: Good for Beginners

Some people believe that a micro version does not make sense when a standard one is there. However, the truth is that a micro account can play a very crucial role in shaping your career in forex trading. Many professional traders use microaccounts quite often to test new trading strategies and analyze how much money they are able to make through these strategies. This is important in cases where huge amounts of cash are involved at a later point. Moreover, even after being such a small account, it lets trader get access to all the resources that are available with the standard version. Due to this, forex micro-accounts are widely used to learn the techniques of reading and understanding forex charts without making large initial investment.

Many beginner traders opt to have demo accounts to learn the basics of trading. However, a demo account is devoid of the psychology of trading and does not involve risk. Also, it is more productive to practice money management with a mirco account, since it involves real money. Forex micro accounts expose traders to low risk.



Source by Kitz S

Forex Trading Secrets – These Traders Made Millions, Quickly Learn Their Secret

In this article, we will study a group of novice traders, who had two weeks training and then went on to make millions in profit. You may not make millions but if you see how they made money, you will see how you can enjoy Forex trading success.

Richard Dennis was a well known trader who had made millions but he was very modest and claimed anyone could be a successful trader providing, they had the right method and mindset so he set himself a challenge:

To teach a group of people, with no experience to trade in just 14 days and these people would be both sexes, all ages and of a varying intelligence. The group was a good mix and contained an actor, a security guard and a female accounts clerk to name just a few.

After their training, they started trading and started piling up triple digit gains and went on in a period of 4 years to make hundreds of millions of Forex profits. So what was the secret of their success? I have summarized the key points behind their success below and some of them may surprise you so here they are:

The Best Forex Strategies are Always Simple

The best strategies are simple and use technical levels to enter trades. The trading system taught, was so easy to learn it took just a couple of weeks. Being clever or working hard on a trading system, doesn’t guarantee success so keep it simple and you can win.

No Prediction is Needed to Make Money

Despite what many gurus will tell you – Forex prices cannot be predicted! If you want to make money you simply trade price action and watch for confirmation of trend changes. The strategy used was based on trading breakouts and traded long term trends which is always going to make money.

Money Management – Losses Don’t Matter the Size of Them Does!

The system lost over 70% of all trades placed but the strict money management rules meant, they were always small. On the other hand, the big profits were run for weeks or months and covered the losses, giving the traders great long term profits.

Forget the people who tell you, that you can win over 90% of the time – its a lie. Most of the successful traders in the world, win less than half their trades but that doesn’t matter, because use proper risk control to cut losses and run profits.

The Key Factor for Success – Your Mindset

It’s simple – If you don’t trade with discipline you won’t make money. Let your emotions get involved and you will run losses which will end up with your account being wiped out. The traders in the group, had no problems learning the system or understanding why it worked – but they all found following the strategy with discipline the hardest part however they knew, that’s what they had to do to win and their discipline was rewarded.

Can You Become a Successful Forex Trader?

Yes you can, as you can see from the above story but the one key point to keep in mind is its not learning a method which can beat the market which is the key to FX trading success, its adopting the right mindset.

Sounds simple?

It is and it’s the true secret of currency trading success – understand it and you can make a lot of money trading global Forex.



Source by Kelly Price

Forex Lightning Strategy – Can You Predict Forex Movements?

The scenarios happening on the forex market are realistic. It is unpredictable such that anything can happen in an instant. For some reason, this has been the realistic view that has been emanating from traders who trades in daily. If you are the regular type of person, you would some have questions as to what the forex market is all about.

Traders come in to trade. For some reason, trading is accompanied by fate such that you can or you lose.

There are a lot traders who maybe brave enough to invest in a big sum of money just to fulfill their goal in earning the highest pay on their trading career. On the other hand, a novice trader may be reluctant in investing his own money since doubts and fears has already resembled in his mind. They tend to be pessimistic not taking the opportunity that awaits them on the forex industry.

Traders does not have the capability to predict the circumstances transcending from time to time. The forex market is the largest marketplace to trade in. Selling and buying currencies that are composed by different countries is truly remarkable as you can imagine. Now there are things, that most successful traders consider. They tend to give importance to it.

A trader who wants to earn big should invest big. This mentality has been very evident for most traders such that they are already acquainted as to what the forex market has to offer. This simply means taking the risk no matter how it takes. In line with this, traders exemplify also good techniques to which they can further improve their trading marquee.



Source by Mark S. Carter

10 Day Trading Tips to Become a Better Trader

Warren Buffett once said, “The stock market is a device for transferring money from the impatient to the patient”. This applies to both – traders and investors alike. However, if you are an absolute beginner, there is always some room for improvement. We have listed below the 10 best day trading tips that successful traders follow. Learn them mindfully and take note to level up your trading. Moreover, you can also check out the best day trading tips and make money from online trading in Indian stock markets.

This is why rookie traders often look for advice from experts who have carved their names in the industry. Read on to find out what you may require before venturing in this high-risk but ultimately-rewarding industry.

1. Learn from a Professional Trader – Day Trading Tips

It is always better to learn to trade from an expert before you jump directly into the ocean. Try and find out who has a good teaching methodology and carefully choose the one that suits your style. Most of the trainers or masters will definitely charge a fee for the time spared. Don’t you worry! It is no fee. It is called investment.

After all, you are a trader and one day when you have made it big, you may be approached by newbies and you likewise charge them. But most importantly, if you invest into education, you are saving on market tuition from learning the lessons the hard way, on the expense of your account balance.

2. Pay Attention to the Financial News

Want to be the best trader around? Keep a close eye on the world around you especially business news. Stay updated about firms entangled in IP issues, Failed FDA nod, Board reshuffle, International projects, and dismal earnings estimates of the quarter.

Every news related to the firm you are making an investment in makes sense. Back your decision with these inputs. For a smarter decision while trading, keep abreast of every piece of information on your preferred investment firm.

3. Found Your Niche? Ace It!

Nobody can guarantee you a blockbuster return. You make your own choices and decisions and learn from your mistakes. Only you know which strategies or niches worked for you and which don’t. If you really have the zeal to excel in day trading, you need to be right on top of your business.

Once you have found the niche to work upon, become really good at that. Master it and it will enhance your odds of success in the trading manifold.

4. Treat it like a Business!

Have a hobby? Pursue it somewhere else. Making money and day trading is a serious business. You don’t do it for fun so even before you start to trade, you need to settle with the fact that it is a serious, time-consuming business and it will take time to break even. If you want to gamble, Las Vegas might have better odds.

5. Follow the Pros

Julius Caesar once said, “Experience is the teacher of all things”. Trading experts, despite their level of training, have a lot to boast, thanks to experience.

Follow the moves of the pros and find out what are they investing in? When do they buy? When do they sell? For how long do they hold? Try and understand how profit is made. You can learn a great deal from the mistakes they once made and then harness them to your advantage.

6. Have Patience

Rome was not built in a day. It takes time to master any skill and the same goes with stock trading. It can give you the best returns only if you trade wisely. Researchers have shown that those who trade less tend to earn better than the one who trades very frequently.

This is just like stalking your prey and then striking when you have absolute chances of success. Always remember that when you trade in average and not-so-good setups, you lose on good deals and eventually your profits take a hit. Therefore, one crucial day trading tips are that quality matters over quantity.

7. Don’t be Emotional & Follow Day Trading Tips

The world of trading calls that you keep a level mind and remember that if you let your emotions get the better of you while trading, you will most likely lose out on your money. Emotions make you take irrational, impulsive decisions which should never happen.

Frequent errors like letting your losses get out of proportion, adding to a losing position, not making timely withdrawals et cetera are made time and again. People fall into the emotional trap and make unconsidered decisions. And while you cannot help having them, learning to control your emotions will go a long way in positioning you as a shrewd trader. Work on the emotional quotient and you’ll make wiser decisions.

8. Sharing is Caring

Now that you have learned from your mistakes and other’s as well, it is time to share. You must share the experience you had while trading. You can start a blog, a YouTube channel or other medium for reaching out. Furthermore, you can have a comment section for answering the questions of your visitors.

This will not only help others but will certainly keep you disciplined. This habit will make you more accountable and you might think twice before making a trade you know, you should not be making.

9. When There Are No Good Plays, Don’t Trade!

What? Do not be shocked as this is no less a practical tip than the rest. Sometimes it is good that you don’t trade. Trading just for the mere fact is not a smart choice.

Trade only when you see money lying on the floor or the offer is too lucrative to let it go. Take your chances and remember that this is a highly dynamic world so weigh all possible benefits of making a move against sitting back and speculating.

10. Have Confidence

As obvious as it may sound, this is a key component of a refined trader. Whichever trading style you choose, you got to believe in yourself as failure to believe in the efforts you are putting or the decisions you are taking will never make you a winner. I might sound strange but people do not get good returns just because they cannot believe they will. This negative thinking results in negative returns.

Remember! Successful traders were also amateurs and novices when they started out. Their success has come from the hard work and efforts they have put in. Make mistakes and learn from them to continue trading until you start making profits.

As mentioned in the beginning, these day trading tips shared will let you learn some important hacks to improve Your game. Apply these diligently and you are sure to advance in your endeavors.

Good luck with your trading ventures! Don’t forget to like and share this post on your social networks.



Source by Ratan Kumar

Crown Forex For Making Currency Trading Easy

You can get the best exchange rates for traveling and dealing in forex at Crown Forex and that is exactly why people are finding hard to make any profit. And it has never been so easy to learn currency forex online trading as there are several resources on the internet to sort of provide a hands-on guide with upfront data. You have to identify the currency pair that suits you best before signing up for real money account with a forex broker.

Trade when you want

More and more people are choosing the online version and crown forex as it is both hands-on and upfront. You can trade from the comfort of your home at the click of a mouse and make profits when the computer is on as well as when the computer is off.

There are virtual currency trading classrooms online where you can benefit from the live demo and real life forex trading scenarios. The world has never been as closer as you can trade anytime of the day at any market of your choosing.

Currency forex learn online trading takes you through the steps gradually and makes you feel at home at the most volatile trading sessions in speculative trading. Compared to stocks and commodities, the currency market moves faster and trading is done in trillions each day.

You have more chances of making profits from the volatility and that is exactly why more traders from different speculative markets are choosing crown forex as the best place to park and change their currencies.

Pips and moving averages

But you need to learn the nuances of forex trading from the ground up or else your margin money could be washed away in a matter of seconds. The trading is done in a flash and the market movements take place without any advance warning.

You need to spot the signals and the currency forex learn online trading portals on the internet teach you the basics of pips, moving averages and the intricate data.

These are the secrets that are brought to you upfront by robotic forex trading systems to make the right moves at the right time. Choosing the right course on the internet is also a challenge and your best bet would be to study the reviews in forum posts to get an idea of their worth.

Customers post reviews and recount their experiences. It is worth going through them before you choose a currency forex learn trading system.



Source by Edmund Toh

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