Monday, December 29, 2008

Simple Steps to Currency Trading Success

1. Accept Responsibility

If you want to make money in currency trading then you need to accept responsibility for your destiny - no one else is going to give you success you have to take it for yourself.
This means no blaming your forex broker, a guru or the currency markets
; you are on your own.
That's no bad place to be, as all successful traders in currency trading accept this fact and love the challenge.
If you want to make money in currency trading you can, there is nothing to stop you as everything about successful currency trading is specifically learned.
Don't fall for its easy, its not and with the rewards on offer you wouldn't expect it to be either.

2. Accept These Facts For Currency Trading Success

The most important fact to accept is that currency trading is a game of odds not certainties, predicting the market and scientific theories, and pinpoint accuracy is a lie perpetrated by vendors and they won't give you success.
You're like a successful card player simply playing the high odds but instead of hands their trading opportunities.
You bet big when the odds are in your favor and fold when there not it really is that simple and it will make you a lot of money, if you do it correctly.
Accept that you have to have confidence in what you are doing (which comes from self education and knowledge of your personality) this then gives you the discipline to follow your currency trading system.
Of course - If you can't follow your currency trading system with discipline, you have no system in the first place!
Markets can be frustrating and you have to wait for the right opportunities but you can win, if you get learn currency trading the right way.
Now lets look at your method for currency trading success.

3. Your Currency Trading System

Building a trading system should be based on the following points and if you work smart and get the right knowledge, it should only take you a couple of weeks to master the basics and have a robust forex trading system that can get the odds on your side.

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How to Get Started?

People are introduced to the exciting world of foreign exchange in many ways: friends, current events, newspapers, television, and many others. For those of you who are new to forex, the following guidelines cover the basics of currency trading.

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Monday, December 15, 2008

The Japanese yen saw a massive surge across

The Japanese yen saw a massive surge across the board through Friday’s Asian session; but this momentous move would ultimately be unwound before volatility receded for the weekend. Now traders are left to wonder whether this was the sign of a bigger fundamental shift behind the carry strategy’s perennial funding currency or a errant technical move that has altered the fundamental future of the key FX safe haven.


Sunday, December 14, 2008

FOREX platform contains all those tools that used to show the current active positions

Forexgen’s platform contains all those tools that used to show the current active positions as it also facilitates giving orders and editing them. You can open/close or modify/delete orders, choose the way of displaying , rearranging your trading columns and finally show/hide grid.

Forex started along with the terminal window the account history window acts as a diary that records every single action related to your account. Each operation done by the account owner must be recorded for future use. ForexGen exclusive platform offers you additional history tabs that might be handy during trading, like the Alert tab that contains information about each alert you get. The journal tab that acts as a brief history window and the news tab that has a real time streaming news.

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Friday, December 12, 2008

Short-term traders discover great rewards in uncharted territory

Short-term traders discover great rewards in uncharted territory. Stocks at new highs
generate unique momentum properties that ignite sharp price moves. But these dynamic
breakouts can also demonstrate very unexpected behavior. Old battlegrounds of
support/resistance disappear while few reference points remain to guide entry and exit. In
this volatile environment, risk escalates with each promising setup.
The final breakout to new highs completes a stock's digestion of overhead supply. But the
struggle for greater gains is far from over. Issues reaching new highs often undergo
additional testing and preparation before resuming their dynamic uptrends. The skilled
trader can follow this building process through the typical pattern development expected
during these events.

Price may return to test the top of prior resistance several times. This can create a variety
of stepping or basing ranges before trend finally moves sha rply upward. Other times,
stocks will immediately go vertical when new highs are printed. The challenge is to
decide which outcome is more likely.

Use Accumulation-Distribution analysis to predict whether new highs will escalate
immediately or just mark time. Price either leads or lags accumulation. When stocks
reach new highs without sufficient ownership or buying pressure, they will often pause to
allow these forces to catch up. Other times, accumulation builds more strongly than price.
The initial thrus t to new highs confirms this accumulation. The breakout triggers a new
round of buying interest and price immediately takes off with no basing phase.
On Balance Volume and similar accumulation-distribution indicators are essential tools
to evaluate the strength of new high breakouts. Expect an immediate upward thrust when
OBV draws a pattern more bullish than the price chart. Alternatively, when multiple accdis
readings show ownership limping behind price, prepare for an extended basing
period. And always use caution with NASDAQ stocks. Their odd transaction reporting
may lead to false OBV readings.

Final phases of congestion often print sharp initiation points for the breakout impulse.
Locate this hidden root structure in double bottom lows embedded within the congestion
just prior to the trend move. The distance between these lows and the top resistance
boundary will yield price targets for the subsequent rally. Barring larger forces, this new
high breakout should extend no more than 1.38 times the distance between that low and
the resistance top before establishing a new range.
Once price clears a new high base, the bull impulse escapes the gravity of final
congestion. This often triggers a dramatic 3rd wave for the trend initiated at the
congestion low. This thrust can easily exceed initial price targets when it converges with
larger scale wave movement. In other words, when forces in the daily and intraday charts
move into synergy, trend movement will inevitably be more dramatic than anticipated.

When complex basing occurs early in a dynamic uptrend, alternation predicts major
price thrusts with few retracements. This CMGI parabolic move supports that theory.
Note the extended range at the right shoulder of the Inverse Head and Shoulders
pattern, probably driven by inadequate accumulation. Once the building process was
complete, price ejected into an astounding rally.

Measure ongoing new highs with a MACD Histogram or other widely used momentum
indicator. Whatever your choice, allow your math to support the pattern rather than the
other way around. For example, if an established trendline can be drawn under critical
lows, key your trade timing off that line rather than waiting for your indicator slope to
turn up or down.
Effective trading of post-gravity impulses relies on the interaction between current price
and your momentum indicator. At new highs, prior support/resistance can't be used to
predict swings. Follow the MACD slope to flag overbought conditions favorable for
ranges or reversals. Enter long positions when price falls but the slope begins to rise. Or
be conservative and wait for the zero line to be crossed from below to above.
Patterns point to low risk momentum trades. Enter retracements to a trendline or moving
average and you’ll ride the dips just as new buyers jump in. Short sales should be avoided
completely when momentum is high unless you’re an experienced trader. Trying to pick
tops is a loser's game. Delay short sales until momentum drops sharply but price is high
within its range. Pattern analysis can then locate favorable countertrends with limited
When a stock breaks to new highs, how long will the rally last? In physics, a star that
burns bright extinguishes itself long before one emitting a cooler, darker light. So it is
with market rallies. Parabolic moves cannot sustain themselves over the long haul.
Alternatively, stocks that struggle for each point of gain eventually give up and roll over.
So logic dictates that the most durable path for uptrends lies somewhere in-between these
two extremes.
Overbought conditions lead to a decline in price momentum and illustrate one everpresent
danger when trading new highs: stocks may stop rising at any moment and enter
extended sideways movement. Watch rallies closely with your toolbox of technical
indicators to uncover any early warning signs for this range development.
The first break in a major trendline that follows a big move flags the end of a rally and
beginning of sideways congestion. Exit momentum-based positions until conditions once
again favor rapid price change. In this environment, consider countertrend swing trades if
other forces favor success. But stand aside once volatility slowly dissipates and crowd
participation fades.

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Wednesday, December 3, 2008

Fundamentals of Forex and Forex Market:

Forex stands for Foreign Exchange Market. It denotes a marketplace which is marked for its geographical dispersion. Often abbreviated as FX, Forex market is a potential platform where currencies from all over the world are bought and sold for earning substantial profits. Forex market is not sheltered in any particular place and of course free from external controls. The investors or the participants of the forex market are real players in forex, who in many ways responsible for accelerating the forex market and its growth.

The forex market is open for all. It welcomes investors of all sizes and income level. Thus anyone with a lust for trading and with a sound knowledge of forex market can participate in investing to gain profit.
The transaction at forex market can take place anytime from anywhere in the world. The forex market is busy and remains alert 24 hours except weekends. While trading in forex market, you can either decide to trade your own money or you can opt for a broker, who will trade the same on behalf of you. In both the cases, it is suggested to take a strong stance of your self. If you are participating in the forex, its better to move with a strategy knowing every latest updates about forex market and your currency. Now if you are moving with a broker, wait and watch. Let him do the job but keep yourself updated about the activities.

Forex traders need to analyze the forex market at first for the market involves certain calculated risks. Now while analyzing the market, traders can mull over two important aspects namely technical analysis and fundamental analysis. Technical analysis is the interpretation of facts and data based on the data generated by the forex market. Fundamental analysis seeks to trace out the factors and conditions which influence the market economy and play a pivotal role in altering opinions. Several economic, political, social events affect the forex market and its workings. A perfect trader in forex market is one who can understand these factors and feel the pulse of the forex market before striking gold.
Forex market is beneficial provided you trade well. It can give substantial profit within a short time frame or in a long run. The whole process of forex revolves around the situation of market, value of currency and of course ideas of investors

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Forex Training to Trade Well in Forex Market:

Currency trading in forex market is beneficial. It is because of the fact that the forex market is marked with possibilities and potentialities. However before landing in forex or opening a trading account, you should have a clear concept of what the forex market is all about, how to act here and when to remain silent? Questions of the same genre may be more but the answer to all questions is perhaps one i.e., sound forex training. Yes, a forex training is always beneficial for a trader before playing cards in forex market. A few more facts about forex trading are mentioned below:

There are two ways through which you can track your forex training program namely online way of forex training and traditional classroom method of forex training. Before having an insight into the latter one, let’s mull over the first i.e., online method. Well, online method of forex training is rapidly garnering popularity for the flexibilities it offers to user. Just a click and you can enter into the portal of world’s best online forex trainers. Many websites do offer free forex training program. These tutorials on forex are informative and filtered by experts of forex domain. Here you can even open a free demo account to explore how to trade in forex market without investing real money. Add to this, the online portals seek to inform users about every details occurring in the forex market every minute.

Traditional classroom method of forex training is also worthwhile. Here you get the chance of eye to eye chatting. You can reveal your queries better and get the answers precisely about the forex market and trading. Such forex training can be accessed from your local college campus or schools which are dedicated to currency exchange training program. You can even find books on forex training and forex market preferably from your local library. Opting for a traditional forex training classroom could be a good approach for a newcomer to get loaded with basics of forex market.

Both the methods of forex training are worth mentioning. However before selecting any of these two, make sure the training program suits all your needs. Check out whether it deals with basics and fundamentals of forex market, see whether it teaches you the risk control measures of currency exchange. A good forex training program should address the techniques to cut your losses while trading in forex market. You should also learn how to open and manage a forex trading account. Except course curriculum, you should also do a bit of research about the teacher. Find out the history, achievements and reputation of the training company you are opting for. If possible ask experts about a reputed forex training company. All such efforts will help you to go for the best and learn the secrets of a sound forex trading.

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3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.

Tactics to Make Money Off the Forex Market

Trading The Forex Market can be a lucrative way to make money if you have a firm understanding of what you are doing. The Foreign Exchange Currency Market
also known as FOREX, is one of the largest financial markets in the World, and the great thing about it is that it is not heavily regulated or controlled by any major institution, in turn allowing the ordinary person to make money off the forex market if they are properly educated. The forex market operates 24 hours, 6 days a week and is extremely liquid so it is well suited to intraday and swing traders who are looking to make quick profits in a short timeframe.

However the truth of the matter is that even after most new traders have educated themselves on how the Forex Market works, they still struggle to make money and eventually become part of the 90% of traders who lose money in the world of Forex. You see trading the Forex Market is not that simple, and to become profitable you must gain a competitive edge over the competition, and in order to do so you must be an expert or become one fast if you wish to succeed. Now becoming an expert in Forex is no easy task, you would have to create your own trading system and make sure it can bring in consistent profits; this can only be achieved with years of experience trading actual live markets, and in the mean time it can cost you a lot of money if you are not careful.

A smarter and more efficient way to make some money off the Forex Market would be to follow in the footsteps of the experts who have already figured out how the market works and developed their own profitable systems to trade the forex markets. These experts through their years of testing and experience in trading the forex markets have come with systems that are proven to generate consistent profits off the Forex Market in the long run, and the best part about them is that once they have been created they can be completely automated.

The reason why Many new traders fail to make money in Forex market is because they are overwhelmed by all the information available on the internet and don't know how to get started and which system to use. Therefore if someone has found a formula for success and all you have to do is replicate that formula in order to make money, I think it seems pretty logical to follow the formula and reap the benefits.

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