Joining the winning League at Forex Trading
Friday, October 19, 2007

If you cannot answer the question enclosed in this article, you are 100% guaranteed to lose. The question you should be able to answer instantly with no thinking. So what is the question? Here it is:

"What is your edge (DEFINED) that will allow you to win at forex trading when 95% of traders lose their money?

Most traders can't answer this question or answer it incorrectly. Here are some incorrect answer.

- I have an e-book from a vendor who has great track record.

Get real - if you think someone else can give you success for a few hundred bucks your wrong. Most of the track records sold are simulated and most systems are junk.

- I am using a scientific theory to predict prices in advance

Loads of novice traders do this and think it works. The reality is if prices were predictable there would be no market, as we would all know the price in advance.

- I am trading the fundamentals and news

Sure you are and anyone who tries this will lose. We live in a world where the news is discounted instantly and you are trading behind the curve.

- I day trade

This is popular and simply the best way to lose money. All short term volatility is random so you can never ever win - period.

There are plenty of people on the net who will tell you getting rich and making money in forex is easy - but common sense tells us that 95% of traders lose so this is not so - you need an edge that can lead you to forex trading success!

What is a trading edge then?

What an edge is:

An edge is something you know and have confidence in and can trade with discipline - you know why it works and have the courage and conviction to take advantage of it.

It comes from within and does not involve following someone else.

Mine for example is -I can spot contrary trades combining 2 x indicators and use 2 x timing indicators to give me advance warning of a counter move and can hit these trades hard with courage and conviction.

It really doesn't matter what your edge is, so long as it's logical, you have seen it work and have confidence in it.

Trading is a combination of the following

Robust Method + Discipline To Execute It = Forex trading success

If you have a good method, you also need the correct mindset to execute it with discipline, otherwise you have no method in the first place.

Many forex traders get duped by vendors or try methods that simply will never work. Forex trading looks easy, but is anything but and you wouldn't expect it to be, as the rewards are so high. On the plus side, everything about forex trading can be specifically learned, by those with the desire to do so and all this means is getting the right forex education.

If you learn forex trading the right way, ignore the myths and vendors who will tell you its easy then you can become a winner.

Successful forex trading is a combination of method and mindset that come together to get an edge and then give you the mindset to execute it for success.

So if you failed to answer the question above correctly or don't know what your edge is - it's back to your forex education until you do.

Try and trade without an edge and you will join the 95% of losing traders.

Posted byForex Trainer at 9:19 AM 0 comments  

Forex winning Formula

Too many new traders spend time developing an approach to trading based on historical data and then when they use it live for the first time and lose, they throw it away thinking that it doesn't work. The fact may be that the approach is solid, but it is our expectations that are not realistic. We shouldn't expect to win every trade. Some of the best traders in the world win on less than half of their trades. But they also know that after a series of trades, because of sound money management they can expect to be profitable. This is because they are consistent in their approach, so they expect some consistency in their results.

When developing a new strategy, you have to judge it's effectiveness through different market conditions. This means that you have to see how it works when the market is trending up, trending down, in a range bound situation and also when the market seems confused and direction less. This may mean running through 100 practice trades to get a good feel for the strengths and weaknesses of the approach.

Just because that approach loses three trades in a row, it does not mean it doesn't work. If you and I were flipping a coin where I won on heads and you won on tails, we know that we would each win on about half of the flips. But if tails came up three times in a row, that does not mean that there is something wrong with the coin, it is just chance. We would still know that after a series of 100 flips, we would each still have won and lost about half of the flips. Think of this as you are working on ways to trade the market. Don't be too quick to judge that approach on a small number of trades. Think long-term when evaluating and then if the results are acceptable, be consistent in taking the trades and your trading results will also start to show some consistency.

Posted byForex Trainer at 9:18 AM 0 comments  

Master Success in Forex

In our highly connected world today, trading the foreign exchange (forex) market over the internet is one of the coolest ways in the world that I know of to make a living.

Anybody who tells you that forex trading is a quick and easy path to riches either A: is a total moron and is trying to make a quick buck selling erroneous information, or B: has a vested interest in seeing you fail as a trader.

However, anybody who tells you that it is impossible to make alot of money through forex trading is also sorely mistaken. Yes, it is possible to make a large, almost obsenely large, amount of money through trading the forex market using only a laptop, but it is not easy to get to a point where you can consistently place profitable trades.

I could go on and on about how sucessful forex trading takes time, education, emotional control, and experience, but there is one single thing that I have found is much more important than all of these things if you want to have a successful forex career. And that one thing is...

.......... (Wait for it) ..........

Your MINDSET, and how you perceive trading the forex market.

This is the hardest part for most people to truly understand and use with their own trading, but if you can fully harness and implement the following information into your forex trading, you will experience unprecedented success and you will become one of those people who can travel anywhere in the world and answer to nobody.

(Just as a sidenote, if you do get to this point, I recommend checking out something called an 'economic citizenship program,' where you can become a citizen of a place like Panama by investing in certain organizations. You can get a new passport so that you can go anywhere in the world, anytime you want, and no longer answer to a draconian government that seeks hegemonic control over its citizens.)

The problem is... most people who have had difficulty with their forex trading view the market and their trading platform only as a way to make money, and they become emotionally attached to the money in their trading account and subsequently, each trade that they make with this money.

The key to success in online forex trading is to view your trading platform as a GAME that you play, where the objective is to collect or capture pips. The more pips you gather, the better you are at this forex game.

Now this is easy to say, but it can be different when you are really at your computer making those trades. The one thing I must empahsize is that when you adopt this new mentality and you view forex as only a 'pip collecting game,' the biggest change that you make is that you are now completely emotionally detached from your trading. For this reason, you can view your winning or losing trades from an objective, outside perspective, and it will be easier for you to devise a winning strategy since you are no longer blinded by emotion.

---Exercises For Developing The Proper Forex Mindset---

There are two things that I recommend doing if you want to slowly change your perception to where forex trading is nothing more than a game where you win by getting pips (and few games in the world can be as profitable as this one).

First, I will introduce to you something that I call 'risk capital.' In short, risk capital is money that you would like to grow, but if you lost it then it would not have a big impact on your financial situation. You want to make sure that the only money that you ever put into a live trading account is risk capital, which is just extra disposable income that you do not need to pay the bills.

Second, you want to make extensive use of trading demo accounts. If you already have a broker or a trading platform that you prefer and are comfortable with, the best thing to do is to open at least one demo account with this same broker.

As you should see, trading your demo account will look and feel EXACTLY the same way as your live account will. The only difference it is not big deal if you lose money in your demo account, since it isn't real. What you want to do is get to the same point after trading your demo account that you feel the same way about your live trading account, where it is no big deal if you lose money.

Spend enough time trading your demo account on the same platform that you trade your live account on, and your subconscious mind and a part of your brain called the visual cortex will begin to associate seeing this forex trading platform with 'Oh, a demo account. No big deal, its just fake money after all.'

This is where you want to get, and it will become nothing more than a game for you. It just so happens, though, that this game will fund your next month long trip to Monaco, and will elevate you to the status of a High-Net Worth Individual (net worth exceeding $30 million USD) and beyond. I suppose it is ironic that the less you care about how much money you are making, the more you are actually positioned to make.

Posted byForex Trainer at 9:09 AM 0 comments  

Forex Advice for beginners

Enclosed you will find a simple equation on market movement that can lead you to forex trading success. Most traders don't understand it and that's why they lose their equity, so here is the equation for forex trading success.

It's a very simple equation and we will look at it in more detail in this article for now here is the equation for forex trading success.

Fundamentals instantly Discounted (Supply and Demand) + Investor Psychology (view of the facts) = Price Movement.

The first point to keep firmly in mind is that you won't enjoy forex trading success if you try and trade the fundamentals.

Why?

Because news is instantly discounted and in our world of instant communications and its available in all corners of the globe at the click of a mouse. Furthermore, the facts and news is not important it's the way the participants view them.

We all have the same facts to look at but we draw our own conclusions based upon our emotions as well as our logic.

The news is stories and should and cannot be traded. Will Rogers once said "I only believe what I read in the papers" he was joking but compare this with the huge number of people who take a story on Bloomberg or Reuters as gospel.

The fact is the fundamentals are most bullish at market tops and most bearish at market bottoms. This is human psychology at work. If you want to enjoy forex trading success you need to be able to trade taking this into account.

A way you should not trade! - Is to try and predict.

Firstly, markets are NOT scientific because humans are not and they decide the price.

There are plenty of vendors selling systems that tell you that you can predict but you can't. If markets were scientific we would all know the price in advance and there would be no market.

Others traders don't use scientific methods but think they have to predict to win but another word for this is - guessing. If you guess you're hoping and the forex markets will kill you.

The way to trade is to act on the reality of price and trade on confirmation. If you want to win you shouldn't just assume a support level will hold - watch it hold and trade the reality.

The equation we are looking at in this article is really one that you can trade using forex charts.

Forex charts simply assume that as the fundamentals are instantly discounted in price action. All you need to do is follow the price action.

So with no study and trying to work out where the fundamentals may send prices, you simply just watch the reality i.e where they are and not question why.

Forex charts do something more though:

They show you how the participants perceive prices and they reflect the human psychology. While humans don't conform to scientific theory, human nature is constant and this shows up in repetitive price patterns.

It's a fact that prices spike away to far from the fundamentals due to investor psychology and these price spikes, driven by greed and fear, are easy to spot and tradable.

Trading the odds

When you are trading with forex charts, you are simply aiming to trade high odds scenario's.

Sure you will lose trades but if you play the odds correctly, you will win more than you lose and enjoy forex trading success.

The advantage of forex charts if used correctly is:

You don't guess, hope or predict you work on the assumption that the market price is always right and trade the reality. The forex chartist, doesn't care which way markets move or why, they just want to make profits when they do.

The equation we have looked at here is vital for any trader to learn and digest - if you do you will see the right way to trade currencies and enjoy forex trading success.

Posted byForex Trainer at 9:07 AM 0 comments  

Pips Mentor Advice

Many people have heard about Forex trading, some have even made the effort and looked for information. Forex trading has a lot to offer the private trader. A successful Forex trader can earn a lot of money in a short period of time.Before you dive into the Forex world you should be aware of the following:

1. Forex trading is a risky business , it involves high leverage and you may lose money. Because of its complexity and the fact that most traders experience losses - sometimes it is compared to gambling. However Forex trading is not gambling, as you control your level of exposure via your ability to get out whenever it suits you to minimize your risk and make your investment safer.

2. Do not start trading unless you have money that you can afford losing. The worst thing to do is to trade with "Coward Money". When someone opens a real account and deposits money that can not be afforded the money will probably go down the drain as a result of the psychological element that comes into play.When trading you must be detached from your emotions. If you trade with money that you can not afford to lose you add a level of anxiety to your trading and that will disrupt your thinking and planning.

3. Forex trading is a profession like any other profession and therefore you must study and know what you are doing. There is plenty of information available on the Internet or in books.

4. Trading requires discipline and an organized system especially when talking about Forex trading. Every trader must have a plan and discipline in order to survive and earn a living. Before you start trading with real money you should study up as much as you can about trading. You may choose a fundamental or a more technical approach however keep in mind that you will have to constantly maintain your studies and develop your own system and approach towards trading.

5. Money management is very important in any kind of trading , especially in Forex trading where leverage is high. Sometimes you will have to make difficult decisions that may cost you some money in the short run but save you much more money down the road. Successful traders will often opt to cut losses and lose a small portion of their money instead of losing big sum of their money. There is no place for prayers, wishes or hopes in the world of professional trading - successful traders are detached from their feelings and remain impassive to the rises and falls of the market.

6. Like any other business, Forex trading requires forward planning. Before entering a trade you should analyze the market, charts and conditions. The successful trader plans trades and recognizes the precise moment of the entry, exit and stop loss points way before the trading even begins. The keys for long term success is analyzing planning, managing the trade strictly according to the plan.

For conclusion: Although trading is not for everyone , if you are serious in your decision to become a successful trader then it is possible. The thing that differentiates successful traders from the rest of people is their determination and desire to become successful. Successful traders never stop learning about the market and new systems.

Posted byForex Trainer at 9:06 AM 0 comments  

Buying and Selling in the Forex

These days everyone is talking about a new profitable activity called Forex trading and the great opportunity this activity represents for people willing to brake free from the corporate world and start working from home or any where else without losing their current lifestyle and even improving it.

Most experienced traders consider that the best and most profitable of the capital markets is the Forex market. For many years Forex trading was the sole domain of major banks, large financial institutions and countries central banks; for example the U.S. Federal Reserve Bank. But these days, thanks to the internet the market has been opened to everyone willing to learn the best techniques in forex trading and with the intention of making substantial profits as the institutions mentioned above that annually and consistently make pretty high profits from trading in the Foreign Exchange market.

You have many advantages when trading the forex markets, for example; you don’t have to worry about fees you may have to pay to your broker; there are also none of the usual fees to which futures and equity traders are accustomed to pay always; no exchange or clearing fees, no NFA or SEC fees.

The forex market has five major currencies: US Dollar, Japanese Yen, British Pound, Euro and the Swiss Franc. It is due to their great popularity in world’s commerce transactions and its high activity that these five currencies account for over 70% of North American trading. Of course there are other tradable currencies; they include the Canadian, Australian and New Zealand Dollars. These minor currencies account for 4% - 7% of the total market volume. Together, all this five majors and minors currencies constitute the backbone of the Forex market.

The concept of “Buying” in Forex refers to the acquisition of a particular currency pair to open a trade and “Selling short” refers to the selling of a particular currency to open a trade, i.e, just the opposite. When you Buy, you are expecting the price of the currency pair to increase with time, i.e., you buy cheap to sell high; which is easy to understand. In the case of Selling short, it looks a bit more complicated. Here the way to make money is to initially sell a currency pair that you think will lose value in a given period of time and then, once it happened, you will buy it back at the new price but now you can sell it at the previous greater price the currency had when you opened the trade, so you earn the difference in prices. It may seem kind of tricky when you are starting, but once you are in front of your trading station it will look much simpler.

Posted byForex Trainer at 9:03 AM 0 comments  

Introduction to Forex

FOREX is the world’s largest and most liquid trading market. Many consider FOREX as the best home business you can ever venture in. Even though regular people have had the opportunity to take part in trading foreign currencies for profit (in the same way banks and large corporations do) since 1998, it is just now becoming the cool, hip, new "thing" to talk about at parties, business events, and other social gatherings.

Even though it has been somewhat of a loosely guarded secret, every day more and more investors are turning to the all-electronic world of FOREX trading for income and profit because of its numerous benefits & advantages over traditional trading vehicles, like stocks, bonds and commodities.

But, still, whenever something seems new or is just becoming a part of social conversation, news articles, and water cooler gossip, misconceptions have to be overcome, the mind has to be open and the slate has to be clear for starting out fresh with the CORRECT information.

So, in this article, it is my attempt to give you some solid, but not over-detailed, information on just what the heck "FX" (FOREX) means, what it is, and why it exists.

As a successful trader said, Trading FOREX is like picking money up off the floor. Not trading FOREX is like leaving it there for someone else to pick up." Others in the industry have also said, Trading FOREX is like having an ATM machine on your own computer.

Here's an explanation (one I feel you'll appreciate) of what FOREX is and how a bunch of traders, profit from it:

The Foreign Exchange Market, also referred to the "FOREX" or "FX" market, is the spot (cash) market for currency.

But, don't mistake FX as trading the futures market, where you buy a contract to purchase a particular currency at a future price in time.

What FX traders do is much less risky than trading currencies on the futures market, much more profitable, and a lot easier, than trading stocks.

So, you're probably wondering where it's at ... or ... how to access the FX market?

The answer is: FX Trading is not bound to any one trading floor and is not centralized on an exchange, as with the stock and futures markets. The FX market is considered an Over-the-Counter (OTC) or 'Interbank' market, due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.

Yes, if that's the first time you've heard about an all-electronic market, I know this may sound somewhat intriguing to you.

Here's what you are actually trading when you participate in the Foreign Exchange (FOREX) market:

Essentially, like the large banks who use the FX market to protect themselves from the fluctuating exchange rate of different currencies, as an investor, what a FX trader is doing is simultaneously exchanging one countries currency for another. So, in actuality, they're electronically trading a currency-pair and the price that is quoted to us is the exchange rate between the two currencies.

In other words, simply the quoted price is how many of the one currency is worth 1 of the other currency.

Example:

EUR/USD last trade 1.2850 - One Euro is worth $1.2850 US dollars.The first currency (in this example, the EURO) is referred to as the base currency and the second (/USD) as the counter or quote currency.

The FOREX has a DAILY trading volume of around $1.5 trillion dollars - 30 times larger than the combined volume of all U.S. equity markets. This means that 1,498,574 skilled traders could each take 1 million dollars out of the FOREX market every day and the FOREX would still have more money left than the New York Stock exchange every day!

The FOREX plays a vital role in the world economy and there will always be a tremendous need for the FOREX. International trade increases as technology and communication increases. As long as there is international trade, there will be a FOREX market. The FX market has to exist so a country like Japan can sell products in the United States and be able to receive Japanese Yen in exchange for US Dollar.

There's plenty of money to be made using FOREX for plenty of traders that use the right trading techniques / tactics that will allow them to profit immensely. And, with only 5% of the daily turnover of volume coming from banks, government and large corporations who need to hedge, the other 95% is for speculation and profit.

Posted byForex Trainer at 8:59 AM 0 comments  

Free One-On-One Forex Training
Wednesday, August 8, 2007

An overwhelming number of people responded to my advert of free forex training.I expected a rush but not to the extent that it came,so as a means of making things easy for myself and for you learners, I designed a ONE-ON-ONE online training package for each one of you individually or even as a group if you so choose. I have asked you to register online in order to enable me organise each person's lecture without affecting another person's.
I am aware you know that this training I am offering you is what others are paying N 10,000 for a group seminar or even N 35,000 for a one-on-one training. So then you will ask

Why is yours free?

Well, the best answers to this question are:

1. Other programs out there are just what they are called - "SEMINARS".In other words they are only eye-openers, not training in the real sense of it all. Most people attend it, but cannot see any difference.Seminars are for the smart guys.
   
2. I want you to save the N 10,000 or N 35,000 that you would have paid for seminars and use it for your live trading. Or what's the use if after attending the seminar you are left with nothing else to trade with. I did not attend even a free seminar to learn Forex Trading.
   
3. The 3 hours used for these "seminars" (which is really what they are) will not be enough for many people to understand the totality Forex. When we start the training you will testify to this fact. Although I'm not saying Forex Trading is difficult; I will also not say it is that simple and can be learnt that fast.
   
   
4. After the seminar you are advised to practise before trading live and you are usually left on your own to do so. And what if you were not able to do that successfully?
   

1. Spent N10,000 (or N35,000 for one on one ) for a seminar, and,
   
2. Probably not learnt much because of the short period involved,so,
   
3. You had to pay extra N 100 per hour at the cafe to practise what you have learnt.
   

Cafe browsing time(10 hours)        N 1,000

Training fee(plus training manual)    N 1,000

Application Procedure for Free Forex Training

Posted byForex Trainer at 9:37 AM 1 comments  

Free Forex Seminar
Monday, July 23, 2007

The Easiest Way to start Forex Trading with N 32500 by Investing Just N 3000 in less than 3 months

This exposition teaches you how you can raise N 32500 by investing N 3000 in a HYIP program.HYIP is short for High Yield Investment Program.So many of these programs abound on the internet,but it is not very well known to so many people.But,I will be introducing you to A3Union

Why A3Union?
Just like so many other HYIP programs, HYIPs have scams, i.e Fakes.

A3Union is the best among the real HYIPs for these basic
Reasons:
1. A3Union is a company-owned HYIP.99% of HYIP scams are owned by individuals.This company, Carribean Softwares, has been HYIPing since 2003.They have investment teams strategically located in London, New York, Hamburg and Tokyo,and they actively
manage investment relationships with over 500 personal and business customers in 30 countries.A3Union constantly manages investment relationships with over twenty high yield investment partnerships in six countries and have offices in ........They
have about 364 representing officesin 59 countries (5 of them in Nigeria)
2.A3Union is among the top 3 HYIPs in Goldpoll.com and hyip.com which are sites that tell you which HYIPs are real and those which you should watch out for.A3Union website is ranked as in good standing on over 50 rating websites, forums, magazines,
blogs and other websites.

3.A3Union is very profitable. I think it's the most profitable.The power of compound interest favours you the most because through it your 3000 can become 32500 within a couple of days.
4.There are other avenues of making money on A3Union and I have been paid by eacy of these means,thereby adding to my interest.One of these is Referring people to register,and each time they invest you are paid bonus.This is why i will implore
you to register by clicking the link I will give you at the end of this training or on any of the banners.This of course is why it is free.

5.I am an investor and i can testify to the fact that A3Union is real and profitable because my investment is growing at an unbelievable rate.
You can Register for a free account with A3Union by clicking on this link A3UnionWhen you click the link, you will be taken to the company’s website. At the top of the website,click this flag

to select English as the site language. Go to the end of the page and click register. Make sure you register by clicking this link as that is the only thing that would ensure I keep you informed.When you register for this program, open an e-gold account by clicking on this linkE-Gold Account ,if you don’t have one.

Thanks for visiting my web log.For other free information on online money-making opporunities, click hereOnline Money

Posted byForex Trainer at 6:32 PM 0 comments