Options Trading Unearthing the Commandments and Indicators - forex quotes from trading charts

Options Trading Unearthing the Commandments and Indicators ~ forex quotes from trading charts

The popularity of the options trading market is always on top. No one can simply be active in this kind of enterprise if he is unprepared to tackle the most important things that encompass it. There are jargons, techniques, and commandments which have to be taken into consideration and be learned by heart. Most of the times, the person who makes himself ignorant is oftentimes the one who digs up his own pitfall. For you not to suffer a terrible fate, all that you have to ensure is that of abiding by what is certainly a bunch of concepts which must be inculcated into your mind.

A Brief Background

The buying and selling of options is generally considered to be one of the most attractive and then economical ways of making yourself a part of the stock market. Investments can turn out to really big profits. The shares need to be disposed of within a particular time frame or else there will be no profit at all. The seller then has the preference to wait some more until the market proves to be well enough to accommodate a good trade. What matters most is for the trader to keep track of the date of termination of those options.

A List of the Commandments and Reminders

Are you up and about to hit the options trading market? As part of the basics, you have to learn some of the very fundamental factors that will lead you towards the path to success. For starters, here are the very relevant commandments as well as reminders which you must keep in mind.

First thing on the list is that you must not let any option reach its expiration without getting credits for it. You must understand that your options have set deadlines. Prior to the stipulated expiration, you should let it go and make sure that you earn what is due you.

Second, never ever forget the expiration days of your options. As mentioned above, you need to let it profit before its expiration. Meaning to say, every second counts and you are racing against time.

Third, place enough importance on the ask price or option bid. Although you should be flexible, it still matters that you become keen to the real ask prices and bid.

Fourth, always have a set of plans. Be ready to switch your plan A with that of plan B whenever necessary. 

Fifth, never buy any option that cant sell. You know your main objective as you trade. That is, to make profits.

Sixth, dont imprison yourself in a type of market that will make it really hard for you to get your way out. There is no one but you who is going to be held responsible for your actions.

Seventh, never pass the time. Always work with the right pacing for the market to execute its own move. Meaning, you should know when to strike and when to avail of the highest value that the market is offering.

Eighth, refrain from buying options from the markets that exude higher risks especially in terms of price precariousness. 

Given these commandments and reminders about options trading, you have to program yourself towards following them. Take note that your own success highly depends on how wise your decisions will be. These are merely your guidelines. You still need to concert your effort to make things work.

More info for Options Trading Unearthing the Commandments and Indicators ~ forex quotes from trading charts:

Read more

How To Become a Better Trader - forex market charts

How To Become a Better Trader ~ forex market charts

It is a well documented fact that within the “business” of trading the financial markets, as much as 90 % of the participants lose and continue to lose money. So if 90 % are losing, that therefore means that 10% are gaining each and every time.

In order to improve my own trading record, I deliberately set out to try and discover what it was I had to do to become one of the 10% (The Winners) who are consistently making money from the unfortunate remaining 90%  (The Losers) who don’t.

My research and investigations was to speak to as many successful traders as I could, to read as many articles, publications and books which have been written by successful traders. It wasn’t until I started my research, that I quickly realised just how much has been and no doubt will continue to be written about trading and the psychology of trading. What is even more astounding is the amount that has been written by so called “gurus” who actually haven’t made any significant amounts of money from a business that they are supposed to be experts in. I will tell you about some of my findings relating to these authors in future articles.

It is my intention to publish my findings in a series of articles over the next 3 months and I hope you can learn and improve your own trading from implementing the information which I release.

I personally trade the FOREX market now but I have tried trading stocks, futures, commodities and options. I will be covering the reasons for concentrating on FOREX in a later article but in the meantime let me tell you about one of my many discoveries.

Every one of the successful traders I interviewed, stressed the importance of keeping a journal of their trades. They would record the date, time, what they traded, buy or sell, price, indicators used including levels and/or figures, trends (long, medium and short) and an overall description of why they took the trade. It was also imperative that the journal entry included notes about the trade after the event. If it made money what was the criteria, and if it was a losing trade, why had it turned out to be like this and any contributing factors.

Now comes the interesting part. Everyone of them stated that they regularly reviewed their journal (some weekly and some monthly) but everyone quite categorically looked back over past trades. No doubt learning from their mistakes and to improve and repeat on their successful trades.

Trading is very disciplined  with definite rules for entering and exiting trades. These rules must be adhered to at all times and one of the rules is entering all details about the trade in the journal, making no exceptions.

I hope you will all learn something from this and if you aren’t already maintaining a record of your trades, then please start doing so from now on. Also regularly go back over your records on a regular basis. You will  see a marked improvement in your performance.

More info for How To Become a Better Trader ~ forex market charts:

Read more

How to choose the right Forex Broker - forex trading with renko charts

How to choose the right Forex Broker ~ forex trading with renko charts

Considering that there are many Forex brokers, it is hard to make a decision on which one to open your trading account. 

All of them have different advantages, desadvantages,weaknesses, capabilities, features.

Here you have a list that can help you decide which broker to choose for your Forex business.

1. Is the broker you want to use Regulated ? You must be sure about this first criteria. Usually, all the regulated brokers must submit financial reports to regulatory authorities. In case that they dont do it, the regulatory authorities may terminate their membership. It is a measure to keep transparent the financial reports.

There are local regulatory authorities, for every market. The US based brokers are regulated by the National Futures Association and Commodity Futures Trading Commission. The Swiss based brokers are regulated by the Swiss Federal Department of Finance and so on.

When a Forex broker is regulated, this allows investors to dispute any resolution, increasing the investor protection.

2. You must establish the trading platform and the trading conditions with the chosen broker. 

The most important factors are:

Platform execution - you must know how fast and how consistent are the execution of the trades. It should be fast and transparent executions during normal market conditions.

Spread- the smaller the spread on currency pairs the better the conditions are for investors and traders.

Safety of funds- you must be sure that your trading funds are kept in a segregated account or at least insured.

Fractional trading- you must ask your broker to allow you to trade on fractional basis. Instead of trading full 

lots , they can allow you to trade fractional lots, like "22,458 units", not "23,000 units". This is a good measure to avoid trades risking percentage of the balance on each trade.

More info for How to choose the right Forex Broker ~ forex trading with renko charts:

Read more

THE MOST ADVANCED FOREX INDICATORS - forex trading in india basics pdf

THE MOST ADVANCED FOREX INDICATORS ~ forex trading in india basics pdf

Hello there !
Do you know what the Trend Scanner and the Forex Currency Index are? Well, theyre probably two of the most advanced indicators in the Forex industry!

• Trend Scanner: searches for trends in ALL currency pairs and time frames... simultaneously!

• Forex Currency Index: spots market inherent strength and weakness, and tells you where temporary unbalances can be found.

They are specifically programmed by savvy trader Hector Devilles coder, and theyre INSANELY powerful.
Heres the video :

Price is 37$ for both Indicators. Instant download, no limit, no expiry !

Any question, email to lumina920 [at] nokiamail [dot] com
More info for THE MOST ADVANCED FOREX INDICATORS ~ forex trading in india basics pdf:

Read more

A Winning Approach to Actually Trading Within the Stock Market - forex trading candlestick charts

A Winning Approach to Actually Trading Within the Stock Market ~ forex trading candlestick charts

Several traders lose merely from ignorance. They will base their trades on hunches, news, or tips from friends, and dont define specific risk and profit objectives before inserting trades. Pothers have the merit of educating themselves other then fall victims with the emotions. They will hold on to actually losing positions hoping they will can become winners and sell winners by concern of losing atiny low gain. They will overtrade to actually fulfill a requirement for action or by concern of missing out.

The consistent winners follow a winning approach:

• They have a strategy to enter and exit trades
• They use good money management
• They take consistent actions, they follow a trading plan
• They keep good records so they can review their actions
• They avoid overtrading
• They have a winning attitude

A strategy to enter and exit trades
You need to a strategy to put the odds in your favor for each trade you take. Your strategy should be as objective as possible and include the following elements:

• Entry: conditions required before you can enter a trade - may include technical analysis, fundamental analysis, or both.

• Initial stop loss: price at which you will close the entire position if it does not go in your favor. The risk per share is the difference between the entry price and the initial stop.

• Initial price objective: price at which you will take some or all profits if the trade goes in your favor.

• Trade management: set of rules that dictates your actions while a trade is opened. It may include trailing stops, closing position, etc…

For every action you take, the reason should be clearly described in your strategy. 

Money management rules to keep losses small
The goal of money management is to ensure your survival by avoiding risks that could take you out of business. Your money management rules should include the following:

• Maximum amount at risk for each trade. The different between your entry price and your initial stop loss is your risk per share. Your maximum amount at risk for each trade determines the share size.

• Maximum amount at risk for all your opened positions.

• Maximum daily and weekly amount lost before you stop trading – avoid trying to trade your way out of a hole after a loosing streaks.

During your learning phase, your goal should be to survive, not to make money. Start with low limits and raise them as you become a consistent winner otherwise you will simply go broke faster. 

Good record keeping
Although the process of gaining experience cannot be rushed, it can be made much more efficient by keeping good records of your actions. Good records will allow you to:

• Review your actions at the end of each day to make sure you followed you strategy, not your emotions.

• Learn from your losses – they cost you money, make sure you get the education in return.

You should also keep a journal of your observations.

A trading plan to keep emotions out of your decisions
During trading hours, emotions will turn smart people into idiots. Therefore you have to avoid having to make decisions during those hours. This requires a detailed trading plan that includes your strategy and your money management rules.

For every action you take during trading hours, the reason should not be greed or fear. The reason should be because it is in the plan. With a good plan, your task becomes one of patience and discipline.

You have to follow the plan without exception. Any valid reason for an exception - for example, correcting an oversight - should become part of the plan. 

Overtrading

Sometimes the best thing to do is to do nothing. Not trading on those bad days is key to becoming a consistent winner – in some situations it is very tempting to overtrade:

• If you trade to fulfill a need for action, to relieve boredom
• If you can’t find the proper setup but can’t wait
• If you fear you are missing out on a great trade or on a great market
• If you want to make up for losses (revenge)
• If you trade to feel like you are working instead of sitting around. Trading involves a lot of work other than the actual buying and selling.

You should not trade under the following conditions  

• You are not following my trading plan
• You have reached your daily or weekly maximum loss
• You are sick or very tired
• You are very emotional (upset, pressured to make money, self-esteem destroyed)
• You are using new tools you are not completely familiar with
• You need time to work on your trading plan

A winning attitude
Losing traders look for a “sure thing”, hang on hope, and avoid accepting small losses. Their trading is based on emotions. You must treat trading as a probability game in which you don’t need to know what is going to happen next in order to make money. All you need to know is that the odds are in your favor before you put a trade. 

If you believe in your edge, which is you believe that the odds in your favor for each trade you enter, then you should have no expectation other than something will happen.

Your attitude will have a direct influence on your trading results:

• Take responsibility for all your actions – don’t blame the market or world events.

• Trade to trade well and for the love of trading, not to trade often and not for the money. The money will come as a result of trading well.

• Don’t be influenced by the opinions of others. Reach your own decisions and follow them.

• Never think that taking money from the market is easy and never assume that you know enough.

• Have no particular expectation when you place a trade because you know that anything can happen.

• Don’t try to guess the future – trading is a game of probabilities.

• Use your head and stay calm – don’t get excited or depressed.

• Handle trading as a serious intellectual pursuit.

• Don’t count how much money you have made or lost while you are in a trade - focus on trading well.

Trading Framework was designed to help you build those crucial elements into your trading.

More info for A Winning Approach to Actually Trading Within the Stock Market ~ forex trading candlestick charts:

Read more

FOREX THE ULTIMATE DREAM JOB - forex trading books in bangla

FOREX THE ULTIMATE DREAM JOB ~ forex trading books in bangla

Every day billions of human beings leave the comfort of their warm secure homes to make their way to that dreaded (just over broke) job, that they loathe.  They work like labor animals with just enough money to almost make ends meet.  Most are in debt making payments on the necessities of life, like a car for example, to allow them to better accommodate the (just over broke) job.  The off day they get is just enough to take care of their errands before they begin the much dreaded and hated cycle again. The (just over broke) job takes precedence over everything including family and church, it is the one call we must answer to survive leaving everything else second to it.

Wouldnt it be wonderful if there was a way to make an incredible living doing what You loved everyday?  A passion that allowed an unlimited source of  income and ample time for the people You love the most.  A place that You could get Your fill of sleep everyday, take off whenever Youd like, play golf after a few hours of work and allowed You to decide when Youd get a raise in pay.

If You trade forex, You have such an opportunity.  It will allow for a very very lavish lifestyle, with You investing as much or as little of Your time as You desire to achieve the level of desired comfort in Your life.  It allows You to take off whenever You want, to sleep in as much and as long as You want.  It  rewards You for showing up, watching for the right opportunity and taking advantage of it.  Wow, arent we most fortunate!

Forex will reward You with everything material thing that You want and seek in this life and even more than You can imagine.  It is an almost limitless storehouse of wealth.  With more than 4 trillion dollars a day, it can provide You with more wealth than your family can spend in 12 lifetimes.  The secret to tapping into this supply is DISCIPLINE.

Yes, forex is work, so make it reward You for showing up.  Take advantage of every money making opportunity it gives while You are in attendance.  The wealthiest traders in the world have the same opportunity that You have everyday.  They just cease it and make the market work for them.  You too can join the wealth party.  It is open to Y-O-U!  The price for entry into this party is trading a good plan with superior discipline!

YOU CAN DO THIS (^_^)!

More info for FOREX THE ULTIMATE DREAM JOB ~ forex trading books in bangla:

Read more

Its not the just best phone Its a dream phone - forex trade example tutorial

Its not the just best phone Its a dream phone ~ forex trade example tutorial

I BUYED A NEW APPLE IPHONE 6S PLUS (128GB 5.5 inch screen) ...Its not the just best phone. Its a dream phone.

FOREX TRADING / FOREX TRAINING / FOREX ACCOUNT
OPENING
FOREX ACCOUNT OPENING CONTACT US
Mail : infoqmanager@gmail.com Skype : qmanager.live
Phone : 0091 9487929983 and 0091 9600329983
Whatsup: +91-9487929983 and viber: +91-9600329983
Facebook : www.facebook.com/forextamil4u
Youtube : www.youtube.com/user/senthamizharasuvta
website: www.tradingwithtamil.com and www.forextamil.com
Broker : http://business.evenforex.com/

Tags: forex mt4, metatrader4, signal provider, siganl free forex, forex free training

More info for Its not the just best phone Its a dream phone ~ forex trade example tutorial:

Read more

RISK MANAGEMENT - forex trading books 2013

RISK MANAGEMENT ~ forex trading books 2013

More info for RISK MANAGEMENT ~ forex trading books 2013:

Read more

Getting the Heads Up for Options Trading Indicators - forex trading 8 hour charts

Getting the Heads Up for Options Trading Indicators ~ forex trading 8 hour charts

Prior to making things happen and making them big, all that you have to firstly deal with is that of familiarizing yourself with as well as identifying the options trading indicators. This course of action is as essential as learning your ABC. 

Your ignorance to the jargons as well as with the indicators will only mean that you are pushing your luck way too far from you. As it goes, the more knowledgeable you are, the better chances you can have in your hands. There are generally six of the most vital trading indicators that you must get educated with. These are by and large the signals that you have to look for before you can execute any action. Consider them at all times and you will be guided towards the right path in maneuvering your endeavor towards success. 

Below is the outline of the pertinent options trading indicators which are likely to be used by an enthusiast like you. Get to know them fully so that you will be assured that your every decision is based on a formal, tried and tested chart.

Moving Averages. 

This refers to the trend lines that show the particular direction to which the trend is leaning towards. This applies best to those who prefer to work in the trading market for a long span of time. Remember though that this must not be relied on alone. It has to be mixed up with other useful indicators to get more positive results.

Bollinger Bands. 

Weaknesses are also part of the trend in the trading market. Hence, this is a tool that will help you out in recognizing the volatility of the market itself. Again, this has to be used alongside with the other indicators since it merely acts as a tool that expresses the possibilities of your opportunity.

Net Trader Positions. 

This is yet regarded as among the greatest tools to use. It looks up for the contrary trades and is worked out by the CFTC on a bi-weekly time frame. Currency markets are also well served by this tool apart from spotting the opportunities in the future markets. With this guide, you are on your way to foreseeing the major trends. 

Stochastic. 

This has been developed by none other than George Lane. He therefore concluded that in the uptrend, the prices are more possible to close within the range of their higher scale. However, in the case of a downtrend market, the prices are more probable to get closer to their lower scale. This is so far the best indicator to be used in conducting trades and generating profits.

Relative Strength Index. 

Otherwise known as RSI, it gauges the strength of the price as compared to the past condition of the market. It furthermore provides you with a clear idea as to how strong the market can become in the future.

Average Directional Movement. 

Also termed as ADX, this indicator is aimed at calculating the trends strength as well as the possible attempts that will gauge if the market is doing well or not. This can also help you determine the strongest trends and provide you with warnings should there be contrary trades or danger in your profit.

There you go with the relevant options trading indicators. Be sure to use them wisely if you want to hit success.

More info for Getting the Heads Up for Options Trading Indicators ~ forex trading 8 hour charts:

Read more

THE POWER OF DOING NOTHING IN FOREX - forex market basics

THE POWER OF DOING NOTHING IN FOREX ~ forex market basics

I will show you why doing nothing is surprisingly powerful in trading.

This simple exercise had a profound impact on how I will try to manage my trades in future. Once I open a trade and I’ve got my stop to break even its time to do nothing, just walk away.

Obviously the vast majority of my trades would have been stopped out at break even however the small percentage that survived were taken by the long term trend and became little profit pulling machines! To give you an idea of the power of doing nothing lets take just one trade from the EURUSD. I entered this short sell trade back in January 2010, it was a simple trend collapse breakout trade risking 35 pips (2% of my account) and I took profit at around 95 pips. Which is not bad right? I risked 1 to get almost 3. (see details of the move at end of this post)

Now lets take a look what happened if I did nothing. The Daily trend took this trade and it never came back to hit my break even stop. In June 2010 it hit a maximum profit of 2410 pips and if it wasn’t closed it would be sitting right now at 1250 pips. Realistically I believe any long term sell positions on the EURUSD would have been closed the moment the head and shoulders pattern played out on the daily chart at the end of June. This would have closed the trade with a profit of about 1800 pips.

Now here is the shocking part!

Remember that the initial risk on this trade was 35 pips, which was equivalent to 2% of the trading account.Closing the trade at 1800 pips would have resulted in a gain of 102.8% on the account! Remember, this is just one trade!
Obviously this doesn’t account for some losses also taken during that period. But to give you an idea of the power of doing nothing lets take the worst possible scenario. Lets say I’m the unluckiest trader alive and after that trade I lost every single trade I took on the EURUSD to date. My account would still be sitting at a gain of 56.8%! Thankfully I’m not the unluckiest trader alive and that trade was just one of many positions that that would have survived the trend fluctuations without being taken out at break even.

Keep in mind this is only on one pair!

Ok, so back to reality… It would be great to trade this way and I am confident that if I just took trades, moved to break even and then did nothing I would be a more profitable trader. Unfortunately I am human and having trades close at a loss or break even for weeks on end would be extremely difficult to cope with. A logical solution would be to split your positions into two. One half would be treated as normal and closed at your usual target resulting in a nice small gain on your account. The second half would be set at break even and left to hopefully catch a ride on the long term trend. Using this method in my example above that one trade would have still netted over 51%!

Hopefully this has given you the push to do some testing of your own but in the end it just boils down to an old, but very wise quote…

“Cut your losses and let your profits run”

(see details of this move posted in Apr 2010 by a former MIGBANK Researcher here Euro Crisis)
More info for THE POWER OF DOING NOTHING IN FOREX ~ forex market basics:

Read more

SAVE YOURSELF!!!!! - forex trading books beginners

SAVE YOURSELF!!!!! ~ forex trading books beginners

Last week we got a huge surprise in the market when the bank of Japan intervened to devalue the yen against other major pairs. Most traders were caught on the wrong side of the trade. Many took huge losses and some of them let their account be blown up.

Guys when bank volume starts to move price, You may not get a pullback to take a smaller hit. If You dont have volume on your platform, You can recognize bank action by price that moves one way almost continually without much retracement. Price will get to a resting plateau and rest before exploding again in the direction of the previous price action.

Many of us will sit at our screens, cursing, praying, begging, but the best thing to do is to save yourself, by cutting bad trades quickly. DONT DEPEND ON THE MERCY OF THE BANKS TO DO IT!!!!!! THEY ARE OUT TO EAT YOUR LUNCH ALWAYS ! THEY ARE YOUR ENEMY, AND THEY ARE RUTHLESS WITHOUT MERCY!!!!!

What happened last week was nothing more than a market shake out, it happens to traders about 3-4 times a year. The last big one in May 2010 saw a drop of up to 1000 pips in 24 hours.

What can You do to save yourself from this kind of adverse action.?????????????

#1. DONT LEAVE OPEN POSITIONS! Trade what You can see. When You are not in the market take your money out with You. That way You can save on all of those foul words to Your broker when he tries to explain the price slippage that caused price to go beyond Your stop loss.

#2. If You must leave trades opened, put in a physical stop losses..

#GRANDDADDY OF THEM ALL!!!!!!!!!

NEVER LET LOSSES RUN !!!!!!

NEVER LET LOSSES RUN !!!!!!

NEVER LET LOSSES RUN !!!!!!

CUT THE LEGS FROM UNDER THAT BEAST AS SOON AS POSSIBLE!!!!!!!!!!

Two things are essential if You are going to enjoy a very successful and lucrative trading career.

#1 Wait for a proper trade set-up

#2 Learn to save yourself. CUT BAD TRADES QUICKLY!!!!!! So what if it comes back in your favor, many times it will, but it only takes one good shakeout to leave your lifestyle in jeopardy.

Cut bad trades to leave the most capital possible for a more profitable trade set-up. THE MARKET IS VERY VERY GENEROUS, IT WILL ALWAYS GIVE YOU ANOTHER OPPORTUNITY TO MAKE SOME PAPER, BUT YOU HAVE TO CUT YOUR LOSSES QUICKLY SO THAT YOU HAVE THE MAXIMUM CAPITAL TO TAKE ADVANTAGE OF THE RIGHT OPPORTUNITY WHEN IT PRESENTS ITSELF!!!

The market is swim, float or sink. Dont let them sink You. SAVE YOURSELF!

YOU CAN DO THIS (^_^)

Get 10 Trading Lessons FREE

http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6

More info for SAVE YOURSELF!!!!! ~ forex trading books beginners:

Read more

The best Forex trading strategies for beginners forex day trading strategies that work - forex trading training books

The best Forex trading strategies for beginners forex day trading strategies that work ~ forex trading training books

The best forex trading strategy is usually the easiest one for beginners. Looking at the chart above is a candle pattern chart for currency trading and is highly preferred chart for trading. You will see downtrends and uptrend. The goal is to do the complete opposite of what losers in the market do. One thing I noticed is that the chart is categorized into two trading methods,, long term and short term. you can make money with both long term and short term. However when I see a currency on the chart the lowest value in a burrow down there buy when the currency is the lowest in value at the red burrow. If the currency goes up just a little bit u have made alot of money already. Logically when the currency is lowest in value u can make the most money when it goes up. So buy when the currency is lowest in value at a red burrow and then set to trade when it goes up in value. A stupid trader sells when currency goes down. never sell for a loss and hold the money as long as you can for profit. A smart trader buys when a currency is at its weakest value of lows then waits and holds the money for a sell to profit. Lesson learned is that if you wait long enough you ll never have to sell for a loss ever again
More info for The best Forex trading strategies for beginners forex day trading strategies that work ~ forex trading training books:

Read more

LISTEN TO THE WISDOM OF THE CANDLES - forex trading books in urdu free download

LISTEN TO THE WISDOM OF THE CANDLES ~ forex trading books in urdu free download

Your candles always have a tale to tell and you would be very wise to listen as they whisper hints about what is going on in the market. In order to trade your very best, it is very very important for you to learn to properly interpret the language of your chart. Now you can use either the bar or candlestick chart to do this, there is really no real difference in the information between the two, but the candles give you a clear immediate visual advantage over your bars. Whether you use bars or candles isnt as important as being able to understand what they are saying to you.

Learning to properly interpret this language will save you hundreds to several thousands of dollars. The trader who has taken the time and patience to learn this language heaps huge rewards as a benefit, but those who dont suffer the wrath of the market time and time again.

Now it is possible to have a perfect understanding of the market and still miss it. All the proper interpretation does is give you an advantage that will put profits in your pocket most of the time.

Your charts are always telling a story and if you can properly interpret that story the market will pay you big dividends for that knowledge.

Here is one of my favorite beginner candlestick video:



Also pick up Steve Nisons candlestick book at your local library: THE KNOWLEDGE IS THE POWER IN TRADING, and having it is the difference between going broke and thriving.

YOU CAN DO THIS (^_^)

Get 10 Trading Lessons FREE
http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6

More info for LISTEN TO THE WISDOM OF THE CANDLES ~ forex trading books in urdu free download:

Read more

FINDING THE PERFECT ENTRY - best forex trading books reviews

FINDING THE PERFECT ENTRY ~ best forex trading books reviews

While finding the perfect entry is the fantasy of every trader. There is no such thing. It is pure myth. If you get an exact top/bottom it is more luck than science. We have many indicators to help us to do this, but finding a good entry point can still be a challenge.

While there are no perfect entries; there have to be entries that put the odds of success in our favor

I think the secret to getting a good entry is the waiting. I get more profitable trades than losses because I am willing to allow the trade to come to me. As a trader I do more waiting than trading. Many people dont get that, but the secret to getting your best market entry is in the waiting.

Here are some things that might help. Mark Yesterdays support and resistance , if you are near yesterdays support when you enter the market and price is moving in a bullish fashion, there is a high percentage that you can take your trade long for a good ride. If you exceed yesterdays high and you get a reversal, then you are probably in for a sweet ride to the down side.

If you are at a midpoint, you might want to wait for a pullback or bounce for a better entry. If you have enough distance from your support or resistance, then most of the time you are safe to follow that short term trend. This works best on a non trending or slightly trending market. In a trending bull market, sometimes you will dip down to just below the high of the previous day all the way down to the low of the previous day before price continues on in its bullish pursuits. In a trending bear market, price might rally above the previous days close and in rarer occasions all the way to the high of the previous day before reversing.

Never buy near yesterdays top or sell near the bottom unless you are in steps. If You sell near the previous days top or buy near yesterdays bottom, you are much more likely to get a break even trade if the market doesnt do what you expect.

Here is a great link that will show you roughly what your pair is going to do hourly and daily. It also shows you the times that your pair is most active:

http://www.mataf.net/en/tools/02-01-volatility

This is only a guide, compare it to your charts to see how accurate it is overall.

Guys, you can do this and play with the big dogs, but you must educate yourself and employ the kind of discipline that puts you in the winners circle.

YOU CAN DO THIS (^_^)

Get 10 Trading Lessons FREE
http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6


MarketClub BONUS, 2 FREE MONTHS! Click Here




More info for FINDING THE PERFECT ENTRY ~ best forex trading books reviews:

Read more

CAN YOU BEAT THE SYSTEM - fundamental forex trading books

CAN YOU BEAT THE SYSTEM ~ fundamental forex trading books

Can you beat the system ??

NO!, but you can still make great money. There is no humanly way that you can beat the system, but you can make a very comfortable and profitable living from forex. Forex has a language of its own and in order to have a glimpse of success, you have got to learn the language. The better you master and translate the language, the more successful you become.

What is this strange language????

It is the language of the charts. It doesnt matter whether you interpret candlesticks or bars ( I have a strong preference for candles), you must learn to properly interpret this secret chart language of price action. Your charts are the only indicator that is telling you the real right now truth.

The only disadvantage to the charts that you see is that you can not see what is going on behind the scenes; but many times if you are properly interpreting your charts, you will glean clues about the possible direction of the market.

Even with the knowledge of this secret mysterious chart language of price action, you can still get tricked. It happens.

Why ?????

Because the house always has and will keep the advantage. You can only hope that your interpretation of the language of the charts will be profitable for you most of the times. If you are properly interpreting this language most of the time, you will do very, very well as long as you dont allow your losses to run forever.

Even after some traders become fluent in this price action language, they allow their losses to run and cut their profits short. THIS IS BACKWARDS and WRONG. The profits are suppose to run and the losers are suppose to be cut short. As traders, we all know if we had cut that trade short when we saw the market turn against us, we would have come out with a small loss as opposed to the crippling monster we ended up with. Dont allow your losses to run free. It is up to you when you are comfortable cutting them, but dont allow them to take over.

LEARN YOUR CHART LANGUAGE!

Going to your local library and picking up Steve Nisons book is a great place to start.

YOU CAN DO THIS (^_^)

Get 10 Trading Lessons FREE
http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6

More info for CAN YOU BEAT THE SYSTEM ~ fundamental forex trading books:

Read more

ANTICIPATE - forex trading books free download

ANTICIPATE ~ forex trading books free download

One of the biggest mistakes traders make is jumping in at the end of a price move. Once price has a direction, we expect for price to move that way forever, and either fail to secure our profits, or try to keep riding a profit train that has come to the end of the line.........

This is a costly error. Price does not continue on forever; at some point it is going to turn against the current trend. Believe me, I love to ride a good profit train and hate to get off of it, but price is only going to go to its next destination before returning to the station or moving to a totally different one.

Your current trend will not go on forever no matter how good the news or the economy is, at some point trends like rivers develop bend and curbs and ultimately reversals. It helps if you know where the river banks are. That is where your support and resistance come in, price may turn at a resistance/support point or it may simply move sideways before finding a way to follow the current trend. These are areas that you want to pay particular attention to price action.

Most of the time, your candlesticks will show you the direction you must take at these areas. Learn to anticipate where your price is going to move. That is how your trend line, candlesticks and support and resistance work together to help show you the most profitable trades. If you are trending, buy pullback/sell rallies in harmony with that trend. If you hit a resistance, then look for a validate candlestick reversal before shorting that resistance, if you are at support begin to look for a valid candlestick reversal pattern to bounce off of that support area. If you dont get these patterns and price keeps going then it is time for a new strategy, but following your trend is going to yield your most profitable trades.

Follow where your price leads, but your trading tools help you to predict where price maybe headed. Anticipations makes for some very lucrative and profitable trades.........

YOU CAN DO THIS (^_^)


Get 10 Trading Lessons FREE
http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6



More info for ANTICIPATE ~ forex trading books free download:

Read more

Guest post 1 Money Management - books on forex trading for beginners

Guest post 1 Money Management ~ books on forex trading for beginners

Since I only know what I know, I have invited some other seasoned traders to share some of what they have learned over the years as well. I hope that you will find these posting helpful. As always take it slow, be patient and exercise discipline.




Subject: Money management

Hi Traders Friend,

Ill focus this post on money management which is one of the most important parts of trading. The first rule of money management is to preserve your capital. Simply stated, be patient and wait for a good setup according to your own strategy.

Professional traders only risk between 1% to 3% per trade. I personally risk 2% per trade. So how can you determine your risk and keep it between 1% to 3%? I personally use a website calculator at:

http://www.facebook.com/l/a4c62;www.forexhit.com/calculators/aec/allocation-efficiency-calculator.htm


You can pay for a calculator that you can download but the good ones cost about $ 100. Or you can use a free one on a web page. The choice is yours.

You need to know how many PIPs you may have to loose in order for the trade to be invalidated. This depends on your level of tolerance, your trading style, and your trading system. That is another lesson in itself so lets just stick to the task on hand. :)

So lets say you have $ 2,500 in your account and your risk for the trade is 50 PIPs. If you risk 2% of your account for the trade you can only trade one mini lot for that trade. If your risk for the trade is 25 PIPs with the same amount of capital than you would be able to trade 2 mini lots.

If you only made 25 PIPs per week profit, in less than a year you will double your account. Just 25 PIPs per week. You dont have to hit "home runs" every time to grow your account in a substantial way. Nor do you need to risk a large amount for every trade to grow it substantially either.

By keeping your risk low, when you get on a loosing streak (also called a draw down) you can take quite a few hits in a row and not do severe damage to your account and to your trading psychology. Every person and every trading system has draw downs. George Soros and Warren Buffett have had plenty of draw downs, but they keep their risks low and are still Billionaires.

I hope this quick post helps you to start understanding the basic principles of money management.

Alexander.

Get 10 Trading Lessons FREE Click Here


This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.

Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you need for living expenses and cannot afford to lose.
More info for Guest post 1 Money Management ~ books on forex trading for beginners:

Read more

How To Incorporate Price Action In Forex Trading System - forex trading chart reading

How To Incorporate Price Action In Forex Trading System ~ forex trading chart reading

There is no unified or centrally cleared market for the majority of Forex trades. 

There are rather a number of interconnected market places, where different currencies instruments are traded. 

This implies that there is not a single exchange rate but rather a number of different rates (prices), depending on what bank or market maker is trading, and where it is. 

Trading the Forex market has become very popular in the last few years.

But how difficult is it to achieve success in the Forex trading arena? 

Or let me rephrase this question, how many traders achieve consistent profitable results trading the Forex market? 

Unfortunately very few, only 5% of traders achieve this goal. 

One of the main reasons of this is because Forex traders focus in the wrong information to make their trading decisions and totally forget about the most important factor, the price behavior.

In practice the rates are often very close, otherwise they could be exploited by arbitrageurs instantaneously. 

Fluctuations in exchange rates are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in gross domestic product (GDP) growth, inflation (purchasing power parity theory), interest rates (interest rate parity, Domestic Fisher effect, International Fisher effect), budget and trade deficits or surpluses, large cross-border MA deals and other macroeconomic conditions. 

Most Forex trading systems are made of technical indicators (a moving average (MA) crossover, overbought/oversold conditions in an oscillator, etc.) 

But what are technical indicators? They are just a series of data points plotted in a chart. 

These points are derived from a mathematical formula applied to the price of any given currency pair. 

In other words, it is a chart of price plotted in a different way that helps us see other aspects of price.

Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. 

There is an important implication on this definition of technical indicators. 

The fact that the readings obtained from them are based on price action. 

Take for instance a long MA crossover signal, the price has gone up enough to make the short period MA 

crossover, the long period MA generating a long signal. 

Most traders see it as "the MA crossover made the price go up," but it happened the other way around, the MA crossover signal occurred because the price went up. 

Where Im trying to get here is that at the end, price behavior dictates how an indicator will act, and this should be taken into consideration on any trading decision made.

Trading decisions based on technical indicators without taking price action into consideration will give us less accurate results. 

For example, again a long signal generated by a MA crossover as the market approaches an important resistance level. 

If the price suddenly starts to bounce back off that important level there is no point on taking this signal, price action is telling us the market doesnt want to go up. 

Most of the time, under this circumstances, the market will continue to fall down, disregarding the MA crossover.

Dont get us wrong here, technical indicators are a very important aspect of trading. 

They help us see certain conditions that are otherwise difficult to see by watching pure price action. 

But when it comes to pull the trigger, price action incorporation into our Forex trading system will definitely put the odds in our favor, it will generate higher probability trades.

So, how to create a perfect Forex trading system?

First of all, you need to make sure your trading system fits your trading personality; otherwise you will find it hard to follow it. 

Every trader has different needs and goals, thus there is no system that perfectly fits all traders. 

You need to make your own research on various trading styles and technical indicators until you find a concept that perfectly works for you. 

Make sure you know the nature of whatever technical indicator used.

Secondly, incorporate price action into your system. 

So you only take long signals if the price behavior tells you the market wants to go up, and short signals if the market gives you indication that it will go down.

Third, and most importantly, you need to have the discipline to follow your Forex trading system rigorously. 

Try it first on a demo account, then move on to a small account and finally when feeling comfortably and being consistent profitable apply your system in a regular account.

The description above is the hard way to achieve goals as a forex trader.

There is an easy way also. Try a new, revolutionary software,which can make your life eaiser and can guarantee your profit.

More info for How To Incorporate Price Action In Forex Trading System ~ forex trading chart reading:

Read more

DUMP THAT LOSER - forex day trading books

DUMP THAT LOSER ~ forex day trading books

One of the biggest mistakes that traders make is holding on to losers too long. The reason we do this is because we cant stand to lose that money. We cant stand to see our bottom line shrink. We cant take the fact that we were wrong in the trade set up. We dont want to mess up a good winning streak. We got stopped out too many times, only to soon see price reverse in our favor. We got angry because we got tricked and now refuse to budge, but keeping the loss only hurts us, while another trader is getting our money. We got tricked it happens, it is time to cut our losses and move on to another better trade set-up.

Whatever the reason, holding on to losing trades IS A BAD IDEA, that only cripples you.

There are other ways you lose besides losing your money??????

By refusing to take a legitimate loss, (not when price moves against you a few pips in a well established trend, but holding for days, weeks and months), you rob yourself of many more profits. When you lock yourself in a losing trade, you cant take any profitable trades in that pair. Say you are short on the USD/JPY and the pair moves against you, now you have practiced good money management so you can afford to hold on to it until in comes back in your favor, it has now been 6 months. With FIFO (first in, first out) that is 6 months that you could not make money on that pair because you were nursing a loss. If you traded on the pair twice a day that is 318 trades(taking out Saturday) that you have cheated yourself out of over six month, and even if you got just 5 pips per trader, that is 1590 pips that you have missed, but say that you couldnt get every trade, you only got half that is 795 pips that you have missed...........ok, but even that is a struggle, so lets say a third, that is 265 pips, that you have cheated yourself out of, and if you are really a great trader, you know that you have missed so much more, say you were able to average ten pips per trade over the 6 months, then that is 3,180 pips that you have kept yourself from. Lets translate pips into dollars that is $265.00, enough for a nice Christmas present. $790.00, enough for that nice gadget that will impress your Friends. $1590.00 enough for that great TV you want. $3,180.00 enough for a great down payment on your teenagers first car.

You could have traded that multiple times both long and short, instead you threw it all away because you refused to take that loss.

Then the loss gets too big and you feel like you cant take it, because you cant afford to take it now. If you cut the legs off of that monster while it is manageable, it wont grow up to eat you.

Not cutting a loss, increased your stress level, making you harder to live with. Makes you feel sorry for yourself, because GOD will help everybody else but you. You are too worried to sleep, so you stay up and watch the market. You also limit the amount of money you can trade with, because a portion of it is locked in that losing trade, resulting in smaller profits.

You are going bald, your blood pressure is up and you are stressed to hell. Just cut the loss while it is manageable. I know you dont want to give the market your money, but that is part of the price of playing the game. Dont trap yourself into a corner that you cant make money in, it is sooooooooooo much worst than giving the market a few dollars, because you are still able to trade and make more money. What if it takes a whole week to recover, it is still better than that panicky feeling that comes from watching the market go against you day after day after day and feeling helpless to do anything about it.

The right way is to ride the winners and DUMP THE LOSERS, because they cripple you, they pull you down emotionally, they steal your trading confidence and lastly they drain your account as they get greedier and greedier the larger they become.

IS IT WORTH IT??????????!!!!!!!!

DONT LET YOUR LOSERS RUN WILD, Because many times they will run until they drain you dry.


YOU CAN DO THIS (^_^)



Get 10 Trading Lessons FREE
http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6


MarketClub BONUS, 2 FREE MONTHS! Click Here



More info for DUMP THAT LOSER ~ forex day trading books:

Read more

TOOLS OF THE TRADE - books on forex trading pdf

TOOLS OF THE TRADE ~ books on forex trading pdf

My Friends, as most of you know, I am not the biggest champion of indicators; however I do know how to use them. I am creating this post for my Friends who want more information about different technical tools. I hope you find this very useful. If you have any questions about anything you have seen here you know where to find me. Also you may check out my youtube page that has videos that I think are helpful for both newer and seasoned traders. http://www.youtube.com/user/TRADERSFRIEND.
Education will help you to do what you need to do with Forex. NEVER STOP LEARNING!!!!!

17 Moneymaking Candlestick Formations You Can Use Today Click Here

Fibonacci... its a technical tool that can make you rich. Click Here

Double Tops and Pivot Points explained! Click Here

Traders Whiteboard #4 Click Here



For all of my Friends who were seeking to broaden your understanding, I hope this helps. Thank you for all of your kindness and support always.

Happy Trading My Friends!

If you have any questions, you may reach me
at TradersFriend@yahoo.com


This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.


Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you need for living expenses and cannot afford to lose.
More info for TOOLS OF THE TRADE ~ books on forex trading pdf:

Read more