Thursday, April 26, 2007
Sun Tzu Art Of War In Forex Trading-How To Become A Successful And Profitable Trader Quickly
These are two of the main statements I often hear from friends who are trading forex.
" Forex Trading is so hard. I seldom have a winning trade!"
" Forex Trading is so easy. I just have another winning streak for the entire week!"
Diametrically opposite, these two statements contrast greatly between themselves- one group of traders finding forex trading so very difficult for themselves, hardly able to get a winning trade. Traders from this group are fumbling at the ropes, trying to become profitable traders and to be able to bring home the roost. Traders of another group are the happier ones. They are consistently profitable in their trades. They are the winners in the forex market.
You look around- and you see others are doing so well in forex trading, and amassing personal wealth, even trading for a living- some of them making thousands of dollars each time they trade- and you think you should be one of them.
So why is it that 90% of the traders in forex not making consistent money? What is it that the other 10% of the traders have that make them the superb winners?
Currency trading was until recently the domain of the super rich and of the big time institutions. Unless you are well oiled, and have deep pockets or a huge sum of money as a capital support, it is not likely for you to even access currency trading.
However, this changed with time, especially when forex mini accounts were created, leading to a surge in people wanting to trade in forex.
This led to a problem...and the problem began to become bigger and bigger and exists till this day.
Forex trading is just simply exploding, with over $2 trillion dollars worth of currencies transacted every single day, with this accelerated growth bringing along problems.
Many people are getting into forex trading without the proper training and proper education as traders. The easy accessibility of the internet made it worst. Many beginners merely scour the internet based websites, picking up morsels of trading knowledge on forex here and there and started to trade. Not that self education is not enough, but the nature of forex trading is such that those who are successful traders are simply not telling how they trade. Most successful traders are traders, their time being occupied by their trading and research into trading setups and have no time to promote their trading signals on the internet. To them, they are first and foremost traders and not educators, and there is simply no reason to post their skills or give away their secrets of successful trading for free on the internet.
The easy access of the internet has led to a proliferation of websites featuring some common trading systems purportedly useful for forex trading. The popularity of forex trading has led to a viral duplication of these websites with almost similar content, until a big majority of forex traders who gleaned their "education" and training from the internet to concentrate on such systems, without knowing exactly when they are suitable for use and when they should not be used at all.
Among other factors, this is one of the main factors why a big majority of the self-taught forex traders are not making any money, or at best are inconsistent in their trading. Most of them are just using the wrong tools or the wrong trading systems and have not gotten to master their trades or themselves.
Sun Tzu's Art of War provides a key solution to successful battle, which can be extrapolated to forex trading.
Sun Tzu's Art of War called it: "Know Your Enemy"
And your enemy in forex trading is merely the forex market itself and you- the person itself.
To win in the forex market, you must know the forex market itself - in other words, you must get to understand the currency-pairs that you are trading on. Spend time to study their price movements. Know what trading patterns and setups occur time and again in those currency-pairs. Be familar with the risk-reward ratios of each specific trade pattern for those currency-pairs you are trading. Define and apply a specific trading strategy for those currency-pairs you trade. Know when to enter and exit the market and when to stay away. The best way to ensure you are doing it correctly is to get another experienced and successful trader to mentor or to show you the ropes. Budget to learn before you trade.
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A professional trader who has been very successful and consistently reaping a 5 figure income from forex trading has revealed his 3 most powerful trading techniques which makes forex trading your personal Cash Cow. Recently, as part of a mission to help other traders, he has released his mentoring system by way of an ebook which becomes an excellent course for those who wish to learn or re-learn how to become a successful and profitable trader. You ought to check out how this exciting ebook can be of use to you immediately. Click here for details now.
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As to the other part of the battle, you need to see the part of you, yourself who is the enemy. Forex trading involves decision making where your risk tolerance is put to the test, where emotions of greed and fear will play a daily tug of war within your heart. The solution to win this emotional battle is to trade with discipline. Adopting a winning strategy, a winning plan complete with risk management and ensuring you do not deviate from that plan is a necessity for you to win. Again, have your mentor to show you and to fine tune that trading plan.
You can join the 10% of forex traders who are consistent winners, and start to create a consistent income trading from home, away from the rat race if you are prepared to learn.
Once again, do not forget to check out how 3 powerful forex trading strategies can convert your losing streaks into a continuous string of winning trades - you can become a confident and successful forex trader if you take action today. Click here for details.
Sun Tzu Art Of War In Forex Trading
Tuesday, April 17, 2007
Why Mini-Forex Trading Is Attractive To Stock Market Traders
If you are a stock and shares trader or if you are desirous of entering the field of forex trading but are held back because of the fear of inadequate capital and insufficient knowledge, mini forex trading accounts may be a possible answer to your pressing need.
As a statistical fact, only about 10% of the traders are consistently profitable in trading. How then can you increases the chances of your being successful as a profitable trader, seeing that you are facing difficulties of capitalisation and skill?
Firstly, you only need a very low capital to trade in forex using a mini forex trading account. In a mini forex trading account, forex brokers are willing to give you a very high margin. The leverage is as high as 200:1. In other words, in the mini forex account, there is a small margin deposit required fixed at $50 for per lot traded. This amounts to a stunning leverage of 200 to 1 (10,000/50 = 200).
By trading mini lots like this, your risk is reduced. Your potential loss is substantially less because of the small capital involved when compared to the normal full trading account.
Secondly, I am sure you have heard the sorrowful tales of those who lost their money trading in forex or stocks and shares or futures and commodities. As only about 10% of forex traders consistently make money, the next question is how can you increase the chances of your success as a mini forex trader?
In trading, APPLIED knowledge is the key to wealth creation.
So your task is to acquire that important knowledge and learn to trade profitably. With the advent of technology and the high speed desktop computers, it is now possible to shorten the learning curve. By finding a mentor who is experienced and successful, you can very quickly clone yourself into the mould of your mentor, following his most profitable trading techniques.
You can now gain years of trading experience by spending weeks on a trade simulator, practising your best selected forex trading strategy under the guidance of your mentor. If that is not enough, you can still reduce the risk further by using a demo account before you start trading.
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Special Note: The greatest problem faced by novice traders is the difficult search to find an experienced and successful trader who is willing to reveal and teach his profitable trading techniques to you. As an experienced trader myself, I highly recommend you to check out Avi Frister, who left no stone unturned in revealing,step by step, his THREE most successful and profitable trading techniques in forex that you can follow and start to earn money as a mini forex trader. Check out his excellent course, Forex Trading Machine here.
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Coupled with the use of a mini forex trading account, the risk is substantially reduced in trading.
Once you are consistently profitable in your simulated trades and your profitable trades are substantially more than your losing trades, then it is time for you to apply that knowledge and enter the real world of forex trading using a mini forex trading account.
By adopting a proven trading technique from a successful mentor, acquiring the necessary trading experience and skills with a trade simulator and practising on a demo account, you will have the best opportunities to start creating wealth from day one of your trading career as a forex trader.
To know more about mini forex accounts, or to open a forex trading account, check out details here.
Be aware of the downside risks as well because like all trading, mini forex trading do carry some risk. Follow the risk management principles in your trading methodology and keep to your safety stops. You can be on the way to become a profitable and successful trader with mini forex if you follow this proven method of learning and education
Why Mini Forex Trading Is Attractive To Stock Market Traders
Tuesday, March 20, 2007
Trading After A Stock Market Crash - Knowing The Next Trend And Switching To Forex
In the light of the big stock market crash or drops recently in February 2007, I have been often asked what effect has the stock market drop on forex trading, and could I mention some highlights of these two trading instruments - how a trader should respond in the light of the market correction.
Forex Trading After The StockMarket Crash
When a stock market has crashed, traders would be looking at trading opportunities elsewhere. Fund managers and portfolio managers would be withdrawing some if not a large part of their investments to move them into other financial instruments that would carry lesser risk and similar if not better gains within a short period of time to reduce further risk. This means you will tend to see more trading in forex. A spike in forex trading can be expected within periods following a stock market crash. This will probably translate into more trading opportunities that you can capitalise on ...and make profits!
Someone did ask me this: " What about liquidating all my trades, both my stocks and shares and forex trading and put into the banks for the fixed deposit rate? Wouldn't that bring in a better return with low risk?"
While Cash may be King, I can't say that you should liquidate all your stocks and shares and even stop trading in forex. The reason?
Well, let me ask you what the banks do with your money put into safe deposit with them? These banks put them in to the short money market to earn interest! They put them into the currencies and trade!
And if you do know how to trade forex yourself, and can make better profits consistently from forex trading, why would you want to earn lower interest rate putting them on fixed deposit with the banks?
The key is to use a PROVEN robust forex trading technique to capture consistent profits from your forex trades.
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You can learn how Avi Frister, a veteran professional trader, consistently picks the best forex trades that result in profits and a 5 figure income using 3 powerful trading techniques by visiting Forex Trading Machine here. His powerful trading techniques will help you trade profitably during bullish and bearish periods.
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We'll talk about trading stocks after a stock market crash in the next post.
Trading After A Stock Market Crash - Knowing The Next Trend And Switching To Forex
Saturday, March 10, 2007
How To Use Elliot Waves To Trade Forex
One of the profitable techniques of trading forex is to use Elliot Waves.
How is Elliot Wave Trading done?
While Elliot Waves Theory may be a complicating and sometimes controversial subject, it is easy to agree that some of the more common "counts" are universally acceptable, and are often seen across most financial instruments being traded nowadays, including forex and currencies.
The various variants aside, general elliot wave theory tells us that there are 5 waves or sub-waves within a wave. These waves are called Wave 1, Wave 2, Wave 3, Wave 4 and Wave 5 respectively. Wave 1, is the beginning wave and comes after a period of consolidation that signifies the end of a 5th wave. Wave 2 is a corrective wave that comes after a wave 1. Wave 3 is an impulse wave upwards, and is often the longest of the waves, and can typically be 1.618 times that of wave 1. Wave 4 is the corrective wave that follows wave 3, correcting and diluting the gains you can get during the impulse wave 3 upwards. Finally, wave 5 is the last of the impulse wave upwards.
Now, armed with this simple non-complicated understanding of elliot waves, we know that wave 3 and 5 are the longest waves that can be tradeable for most gains and are impulsive waves upwards, while wave 2 and wave 4 are impulsive downwaves.
With this in mind, the forex trader will attempt to identify the beginning of waves 3 and wave 5 to enter buying positions, and ride with the trend upwards.
Similarly, the forex trader can enter shorting positions or selling positions at the beginning of impulsive wave 4, which can be easily identifiable as it normally comes after the end of wave 3 which is typically the longest wave.
Translated into day trading, what is needful for the forex trader is just to ensure a software that can identifies in real time and to a good accuracy the various waves involved. Often, by using an oscillator, it is possible to know when a typical wave 4 has ended, especially when the oscillator has pulled back to its zero line. The end of the 4th wave opens the door to trading the wave 5 moves upwards ...and that means a good deal of profits in the trades as you are able to enter the trade right at the beginning of the wave up.
For traders who desire to avoid the difficulties of wave counting, various other methods have been used to provide good trading profits. Chief among them is the use of No-Indicators price action trading. In price-action trading, price and time are the main indicators used to identify the major entry and exit positions, allowing the forex trader to capture the sweetest part of the trading move and exiting just before or slightly after the move has begun its downswing.
Elliot wave counting together with no-indicators price action trading has proven to be a formidable pair of trading techniques employed by many forex traders to earn substantial incomes consistently.
Where can I get information on forex trading that has been used effectively by forex traders to make big profits...especially if I am looking at price-action trading that does not require indicators?
You can discover for free how a professional trader creates his 5 figure income by trading forex using 3 powerful proven trading Price-Action trading strategies involving No-Indicators, and how you can personalise these same systems for your own use today. Simply visit Trading Without Indicators and Pure Price Action Trading
If you are trading stocks, visit http://www.poolofwisdom.com for free information on capturing those explosive moves for gigantic gains in the stock markets
How To Use Elliot Waves To Trade Forex
Thursday, February 15, 2007
How To Start Making Money Trading Forex From Day One!
Should you spend time paper trading or do you start to trade immediately?
At this moment of time, it would be necessary for you to have a clear-cut strategy or a development plan on your new found "career" in forex trading.
Make no mistake, forex trading can be your permanent long term source of income. Treating it as a kid's game where there is no necessity to preserve capital or to create gains is going to bring you to ruins in a short time. On the contrary, if you approach forex trading with some commonsense and with the idea of personal wealth creation, and for some, an online career or your permanent work from home occupation, then you have made a good start.
Now, trading is very much a mind's game.There must be a conditioning of the mind to recognise the real power of forex trading to give gigantic gains and to cause massive losses.There is this need to master the emotions to pull the trigger to trade when you have a nice trade setup going for you with potential good gains. There is also this real need to know how important it is to really pull the trigger to terminate a trade when it is going against the direction of your projection, to cut your losses short and be out of a losing trade.
To this end, I always recommend to novice traders to spend time to study powerful trading setups developed by professional forex traders and to run them through the "simulation lab"...to "paper trade" these setups, until they get into winning positions consistently. This period of paper trading will allow them to get really familar with the various trading positions of prospective profit potential and losses, conditioning them to an almost real life trading environment.
Even if you are a veteran trader, you can get back to simulated trades to re-condition your mind when you hit a bad patch in your trades. It will do wonders to frayed nerves for a stressed-out trader who needs some re-conditioning to get back to top flight as a trader.
Where do you get these winning trading systems to paper trade? There is no short cut here. Either you develop them or you learn them from more experienced traders who are willing to share their winning trading setups with you, or buy them off some trading vendors.
As a beginner, developing them yourself is out of the question and if you go that way, be prepared for a long learning period and also to pay for your losses learning along the way. An easier solution is to find a mentor, and learn from him. This can be a paid solution where you engage the services of a professional trader who will look over your shoulders and see you through the trades as you "clone" his techniques. Or it can be learning from a course of trading, or even from a friend who is a successful trader. Always learn from the best.
When will you stop paper trading and start real trading?
Continue to paper trade till you achieve a consistent winning position where you get a good winning to losing trade ratio. Once you reach that stage, you are ready to take the plunge and to start to trade for real with your own money.
What have we gained by walking this route?
Firstly, you have spent time to master the trading setups.
Secondly, you have spent time to master your mindset, and to master your self to pull the trigger.
Very often, I get questions from readers and friends who are struggling to be successful traders. They have a poor record of gains and losses, and their main difficulty was to pick up a few winning trading techniques that they could make their own, and trade successful IN THEIR LIFETIMES.
Today, they have a wonderful opportunity!
Avi Frister, a professional trader has revealed his 3 most successful trading systems which are based on the No-Indicators Price Action trading startegy for you to pattern after. Avi uses his systems consistently to earn a 5 figure income trading forex and you can "clone' his system and personalize it for yourself.
In fact I am going to provide further assistance and will give away 2 special bonuses of a freeTrade Simulator and a free Forex Strategy Builder for any guest or reader of my Blog who buys Avi Frister's trading course so that you can follow through to hone your reflexes into that of a super trader.
SPECIAL BONUSES ONLY FOR GUESTS OF THIS WEBSITE
If you buy Forex Trading Machine from the link below, I will ensure that you get the following SPECIAL BONUS that will benefit you greatly as a forex trader.
BONUS 1:
HOW TO GAIN YEARS OF TRADING EXPERIENCE WITHIN WEEKS!
This special report will show you how you can gain years of trading experience within weeks, and include a link for you to access a free software to help you in the learning process. For the beginner, he can use the software to quickly gain experience and for the seasoned trader, he can use the software during times when he needs to review his trading style.
BONUS 2:
HOW TO TEST, PROOF-RUN AND DETERMINE THE EFFECTIVENESS OF A TRADING STRATEGY BEFORE RISKING A SINGLE CENT!
This special report includes a link for you to access and download a free software to test and proof-run your trading strategy or system before you start using it. It includes data for trading the more popular currency pairs and is an indispensible tool for you to build and test any trading system.
Because I know your time is precious, both bonuses are compiled within one single ebook for your convenience in reading.
Here's what you must do next:
1.Click on the link at item (5) below.
2.Check out details of the Forex Trading Machine on that page.
3.Order the Forex Trading Machine.
4.Give me details of your receipt by email Once your receipt has been checked and your order has been confirmed to be made from my link, I will send you the bonuses.
5. You'll only get my free bonuses if you order from my link.Here is my link for you to order:
CLICK HERE TO ORDER THE FOREX TRADING MACHINE FROM MY LINK
Saturday, February 3, 2007
Poll Results- What Forex Traders Say Are The Best Ways To Learn Forex Trading
Indeed, if you desire to learn how to trade forex successfully, what is the best way to do so?
Trading coaches and trainers sometimes do have their own opinions, but are their opinions on what is their best way to teach others necessarily be in the best interest of their students?
To get a better understanding of what exactly is the best way for a person to learn forex trading, a recent poll was conducted in a major Forex Trading forum, consisting of international forex traders across the globe, with the question:
"What is the best way to learn how to be a successful forex trader"
A significant number of forex traders responded to the question as a total of 6645 responses were received from the membership, providing direct answers to this question. These were responses from actual forex traders who have faced the same question earlier in their trading careers, and who, now having learnt the tricks of the trade, are able to look back with much hindsight and wisdom, and to share their feelings on what exactly would be the best way to learn forex trading successfully.
Topping the list of the main ways was " to attend more seminars, read books and forums, get some experience and make trading decisions yourself". In other words, members were overwhelmingly endorsing a period of self study and education and paper trading and practice as the best way to become a successful forex trader.
A close second approach was to "sit side by side with a Mentor and study his methods and techniques".
Other responses which receive little support included subscribing to a signal alert or to get live deals from a guru and trade according to them; to buy a software package and trade according to the signals therein; to hire a professional forex portfolio manager or to invest in a hedge fund and monitor trades done by the fund manager to learn from him, and several other minor approaches.
On the basis of these responses from experienced forex traders, it is clear that they were subscribing to the concept that in forex trading, it is important to know how forex trading works, why it works, and to do self study on the various aspects, which will include knowing the win/loss ratios, back testing and strategy testing. By a period of self study, a forex trader can find a system that matches closely his trading profile, his personal tolerance for risk and time frame of trading.
Those who were supportive of having a mentor would have the benefit of a fast tracking of practical skills and knowledge, from the mentor to the student, and to gain hidden and lesser known information from a reliable source, namely the mentor himself.
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If you want to accelerate your learning process, you will find that getting a mentor will greatly help you to fast track your skills in forex trading. Avi Frister, is one of those rare breed of forex traders who are successful in their trading and yet big-hearted enough to reveal their trading secrets as a mentor! Check out how you can personalize his trading systems and make them your own to become a successful forex trader, by clicking here.
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So if you are seeking to learn how to trade the forex profitably, consider the fact that 6645 forex traders are broadly supportive of the idea that it is personal discovery and study, and learning with a mentor that counts as the two major top approaches in learning to be a successful forex trader
Tuesday, January 23, 2007
Forex Trading - A Mentor To Show You An Established Trading Setup
As a forex trader, have you established a sure way of identifying a trading opportunity and to know just when you should enter a trade or exit a trade?
It really is sad...very SAD...to see many forex traders who have many years of experience, but are still struggling to get their act in place. These are those who do make money, but for only a few months and then seemingly would appear to have hit a wall...with every other trade being a losing trade. Somehow, they are NOT consistent winners. How come?
Let me tell you why this is so!
They simply have not learnt to identify a trading setup that is highly profitable..a trading setup that repeats itself many times over the weeks, so that you can repeatedly trade that setup for massive profits!
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If you wish to benefit from the rare opportunity to learn a powerful established trading system and know how to identify a clear trading setup..not just one, but THREE of them, check out how Avi Frister earns a 5 figure income trading forex by clicking here. It is hard to fnd a professional trader who is very successful to reveal his secrets, so grab hold of this opportunity while you still have it today.
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If you are a forex trader, and a wonderful trading setup is in front of you today, are you able to identify such a setup and be able to trade it correctly? Being a forex trader means EFFORT to learn and to exercise that knowledge and skills to enter and exit at the right time and at the right setups. If you are still unsure, CLICK here to get help from Avi Frister and become that "dangerous" trader who have the best chances to make gigantic profits according to a disciplined and defined method of trading. To stop the rot, Do it now!
Forex Trading

