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.

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Who is Carlos Diaz Forex Trader - list forex trading scams

Who is Carlos Diaz Forex Trader ~ list forex trading scams

Carlos Diaz is the founder of Foresight FX, along with a few other well know trading websites.

He specializes in day trading and more specifically - forecasting market trends! He does this with great accuracy due to his development of various trading strategies honed over a 20 year trading career. 
 
He is probably most well known for something called The Pivot Step System. This is a trading technique that allows traders to easily forecast market trends using technical analysis. Many traders now use this technique on a daily basis to improve their chances of placing winning trades.

Carlos Diaz started to teach trading many years ago and was often brought in to banks to educate their own trading staff. Below is a newspaper article about Carlos teaching his strategies at Santander bank.

And here is another article about Carlos Diaz - Forex trader and mentor:

As you can see, Carlos Diaz is a forex trader with an outstanding reputation. This is why many people choose to follow his daily advice by subscribing to ForesightFX. If you would like to learn more about Carlos Diaz you can check out his about page on his website here.
 
  

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BANK TRADER REVEALS BREAKOUT STRATEGY - forex currency trading basics

BANK TRADER REVEALS BREAKOUT STRATEGY ~ forex currency trading basics

Hello traders,

Today I would like to show you a technique that is valid for all currency pairs and all time frames (my group in the bank tend to use it mostly on the Daily and Weekly charts to avoid market choppy noise). The name of this strategy is the Breakout, Congestion and Continuation pattern, and it’s a high probability setup given the right circumstances. If you master this technique, you could achieve a 75% to 80% win/loss ratio!

The key concepts are the universal pattern of any currency pair : continuation pattern after a strong momentum breakouts of key Support / Resistance levels, using candlestick formation made by 3 consecutive candles.

Search for the pattern only upon the breakout of a significant horizontal level of support / resistance 

The pattern : You must see a solid breakout candle breaking through the Support / Resistance level

Dont trade if you get "shaky" breakout candles

Trade only when you see one small candle beyond the support / resistance level, then place your stop orders as shown below

Close 50% of the trade at the close of the first continuation candle, then move stoploss to break even.

Finally, close remaining 50% of the trade at the close of the second continuation candle.

There is 75%-80% winning ratio if you follow this strategy. Good luck !

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RISK MANAGEMENT - forex trading books 2013

RISK MANAGEMENT ~ forex trading books 2013

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EVERY BROKE TRADER DOES IT THE SAME WAY - forex trading basics book

EVERY BROKE TRADER DOES IT THE SAME WAY ~ forex trading basics book

Every trader who ever goes broke does it the same way.

I have heard it said that Traders go broke because they are under capitalized, that isnt true. If You can lose $100.00, you can lose $1,000,000.00. The problem is the same in both traders, the refusal to let go of losses. The difference between the pro and the amateur isnt necessarily his/her trading ability. Trading is easy!

The difference is in how he/she takes a loss. A disciplined pro will say, " I will stop the bleeding here if I am wrong." The amateur says, " I am right and eventually the market will come back in my favor." If You are thinking that, You have lost Your advantage.

While a pro will let 10 profitable trade kill 1 loss, an amateur will let one loss eat the profits of ten profitable trades. Both traders had the same number of trades but one will end the month in profit and the other will end the month in stress and pain.
Cutting a loss quickly soon ends your attachment to that trade and allows You to pursue a more profitable trade set-up. Part of the reason it is so hard to cut a trade is because You waited forever for that trade set-up and now You not only have to admit that You did not have the advantage that You thought that You did, but now You have to start the process all over again and with a loss.

DONT MARRY ANY POSITION; THE MARKET CAN CHANGE IN AN INSTANT!!!!!!!!
IT IS ESSENTIAL THAT YOU HAVE AN EXIT STRATEGY (ONE THAT WILL CAUSE YOU THE LEAST AMOUNT OF PAIN)IF THINGS DONT GO AS YOU PLAN!

ANY TRADE CAN TURN INTO A LOSS!

If You play this game long enough, You will eventually meet with disappointment. It happens, cut and move on. The market will give You another chance to make profit.

Never allow yourself to become wounded beyond repair in the market, either financially or emotionally. Cutting a loss means that You love Yourself enough to save yourself.

If You are going to win at this game, You have to have the capital to play and cutting trades that have lost the edge is one way to thrive here.

Gotta learn to save yourself! If You are getting stopped out frequently, You have gotta to rethink your strategy because something is wrong.

Free Your mind to find good trade set-ups by cutting trades that are not working in your favor. Holding on to diseased trades only punishes You and eventually it can break You

The biggest discipline that a great trader learns is how to cut a loss

YOU CAN DO THIS (^_^)

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How To Trade With Stochastics - forex market chart pattern

How To Trade With Stochastics ~ forex market chart pattern

The stochastic oscillator is a momentum indicator to compare the closing price of a commodity to its price range over a given time span. The idea behind this indicator is the prices tend to close near their past highs in bull markets, and near their lows in bear markets. Transaction signals can be spotted when the stochastic oscillator crosses its moving average.

Two stochastic oscillator indicators are typically calculated to assess future variations in prices, a fast (K) and slow (D). Comparisons of these statistics are a good indicator of speed at which prices are changing or the Impulse of Price.

The two Stochastics lines:

- K – Is the main line and is usually displayed as a solid line

- D – Is simply a moving average of the K and is usually displayed as a dotted line

There are two well known methods for using the K and D indicators to make decisions about when to buy or sell stocks. The first involves crossing of K and D signals, the second involves basing buy and sell decisions on the assumption that K and D oscillate.

In the first case, D acts as a trigger or signal line for K. A buy signal is given when K crosses up through D, or a sell signal when it crosses down through D. Such crossovers can occur too often, and to avoid repeated whipsaws one can wait for crossovers occurring together with an overbought/oversold pullback, or only after a peak or trough in the D line. If price volatility is high, a simple moving average of the Stoch D indicator may be taken. This statistic smoothes out rapid fluctuations in price.

In the second case, some analysts argue that K or D levels above 80 and below 20 can be interpreted as overbought or oversold. It is recommended that buying and selling be timed to the return back from these thresholds. In other words, one should buy or sell after a bit of a reversal. Practically, this means that once the price exceeds one of these thresholds, the investor should wait for prices to return back through those thresholds (e.g. if the oscillator were to go above 80, the investor waits until it falls below 80 to sell). In currencies we mainly use the Stochastic Oscillator on the 15 and 60 minute charts.

Use Stochastics in Trending market The key is when the market is trending up, we will look for oversold conditions (when the Stochastics fall below the oversold level (below 20) and rises back above the same level) to get ready to trade, and in the same way, when the market is trending down we will only look for overbought conditions (when the Stochastics rise above de overbought level (above 80) and falls back below the same level.

Use Stochastic in Trend-less market

- Buy when K falls below the oversold level (below 20) and rises back above the same level.

- Sell when K rises above de overbought level (above 80) and falls back below the same level.

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I HAVE BEEN NOMINATED AS A BEST FOREX TRADER IN ASIA IN CHINA FOREX EXPO (updated) - online forex trading tutorials

I HAVE BEEN NOMINATED AS A BEST FOREX TRADER IN ASIA IN CHINA FOREX EXPO (updated) ~ online forex trading tutorials

Dear Traders & Friends,

Warm Greetings to all !!!

What will be the top recognition for a Every Individual Forex Trader in World?

Looking Good with Luxury Cars?
Answer: No

Whatever business we did, but our target is that, We should record our best performance to achieve the Worlds Top recognition which one globally accepted.

As a initiative for Forex traders in world, to get the inspiration for Forex Traders,  I in turn put a Great Respect to Individual Forex Traders in the world. My non stop effort and hard-work is now turned to a historical event that is

" I HAVE BEEN NOMINATED AS A BEST FOREX TRADER IN ASIA IN CHINA FOREX EXPO 2015."

Held at Shanghai, China on 11 -13 September 2015

 website: http://www.chinaforexexpo.com/

This will definitely inspire  every individuals to get into Forex Trading and Win steadily to be financially happy always. I am happy that I am being a inspiration to every one. I would like to thank all my parents, friends, family  members and my hearty team members who are on my side to get this golden award.

Thanking you!

My Success Begins !
And now its your turn to be in the side of Success !!!

FOREX ACCOUNT OPENING CONTACT US
Mail : infoqmanager@gmail.com Skype : qmanager.live
Phone : 0091 9003344190 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

Tags: best forex trader, forex best training,best forex courses, forex best training institute, forex good trader

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How To Be A Foreign Exchange Trader - forex market profile charts

How To Be A Foreign Exchange Trader ~ forex market profile charts

Being a forex or foreign exchange trader no longer means you have to work for a bank in one of the worlds financial centers. These days you can trade on your own behalf, from anywhere. 

Since the rise of the internet many people are doing this from their own homes, making money in their spare time or even making a full time income. But what is forex trading and how does it work?

A foreign exchange trader deals in currencies. He or she will sell one currency that seems to be falling in value, to buy another that seems to be rising. There are always two currencies involved in a trade (a currency pair) because when you want to buy dollars you have to have another currency to exchange for them. 

In the beginning it is best to be involved with just one currency pair. Most people start out trading in the EUR/USD market, that is the euro against the US dollar. This is the biggest forex market. There is plenty of information available for this market and it tends to have lower costs and be relatively stable. 

Nevertheless forex is a very volatile market. This means that the prices can rise and fall steeply and quickly. The risk is high. It is easy to lose money. In fact, some losses are inevitable, so you should manage your account so that you never risk too much on one trade. You can use stop losses so that your broker will automatically sell if the price goes a certain way against you. The aim is not to have no losses, but to make sure that your profits are higher than your losses so that you end up with a net gain.

You will need access to a computer with a high speed internet connection any time that you want to trade. Unless you use a robot to control your currency trading, you will also need time where you can concentrate on learning a profitable system and then on trading itself. You pretty much need to be able to lock yourself away in a room to do this, at least for a couple hours a day. It is no good trying to trade from your desk at your day job with your boss interrupting you, or using a computer in the family den with kids climbing on your knees wanting to play games. You must be fully concentrated on the movements in the market or you could miss the right moment to either open or close a trade.

If you are a cautious person who likes a solid investment with predictable low returns, you should not become a currency trader. Forex traders are people who enjoy risk and love the challenge of trying to turn a profit in a fast moving market. 

It helps if you are strongly focused on your goals and not easily swayed by emotion. It is important not to let fears of losses or dreams of huge wealth divert you from your strategy. You also need to stay aware of financial news, not only in your own country but in all of the major world powers, because this will affect the forex markets. With these characteristics and a good trading system in place, a foreign exchange trader can reap substantial gains from his or her investment.

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How Does Foresight FX Work - online forex trading scams

How Does Foresight FX Work ~ online forex trading scams

Foresight FX is primarily a forecasting service. Heres a run down of how it works once you become a member:

1. An email alert arrives telling you that todays forecast is ready to view.

2. You click the link in that email and are automatically logged into the website. The forecast is made up of a video and some numbers you input into your MT4.  

3. You input the numbers and your chart will probably look something like this:

The blue box represents the Synergy Zone. You will also have some price targets to draw on your chart as well.

4. Watch the video where Carlos Diaz explains the trading strategy for that day.

5. Trade when price action gives you the opportunity.

This is just a very basic guide. If you would like to learn more then please take a look at the User manual that is provided for all Foresight Fx members. You can download that PDF here.

I hope by now you can see how this service differs from  most others. The main benefit seems to be that Foresight FX offers traders (new and experienced) to opportunity to EARN while they LEARN.

Once you understand the strategy, take a look at the forecast video below. Dont worry if it doesnt make sense straight away as there are plenty of training videos inside the members area that make the forecasts much easier to understand.





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THE TWO JOBS OF EVERY TRADER - forex trading books uk

THE TWO JOBS OF EVERY TRADER ~ forex trading books uk

Traders obtain all kinds of knowledge, build successful traders vocabularies and spend a fortune on classes, webinars, robots and other complicated systems trying to learn to be successful in the market. The problem with most traders is that THEY COMPLICATE TRADING, heck You dont have to do many things in forex to be successful, but there are two jobs that every traders must master in order to be a true success in forex.

Job #1

PRESERVE WEALTH

Job #2

BUILD WEALTH

Number 1 is much much much more important than number 2 because You can not build on wealth unless You first preserve what You have got. I believe that not preserving the wealth that they already have is the number 1 mistakes traders make.

Preserving wealth and building wealth, doing these two things consistently will bring You more success than doing many complicated things. The traders who are successful are successful more because they are disciplined than they are smart. After some education most of us know the same things; so why is it that a few people are successful here and most are ever grasping at success, but never fully tasting it. It is because while we all have the knowledge, only a few will practice it consistently. I am not successful because I know more than You, I am successful because I am willing to do what most traders fail at. I first preserve wealth by cutting bad trades quickly; secondly I build wealth jumping back in when I see an opportunity and letting the really sweet fat trades run and run and run. As a trader, You will have more chances to enter bad trades than You will good trade, so make the good ones really count.

Successful traders can pass along ideas for forex mastery and success, but no one can really tell You the best way to trade because there are many ways to be successful in forex, but once You have honed in on a good system, trade it consistently and You will come out ahead. No matter which system or time frame You choose to trade remember Your two jobs everyday............

PRESERVE WEALTH!!!!

BUILD WEALTH!!!!

YOU CAN DO THIS (^_^)!

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DANCING WITH THE MARKET - forex trading bangla book

DANCING WITH THE MARKET ~ forex trading bangla book

Dancing with the market can often be a frustrating experience because it is constantly attempting to trip You up on the dance floor.

To make Your dance experience a little more pleasant, You must develop the discipline of a Master Trader.

You must be willing to severe trades that are working against You.

You must be willing to wait for proper trade set-ups.

You must continue to educate yourself.

The market is fickle and temperamental, some might even call it bipolar. Sometimes it is up, sometimes it is down. As a trader You must tread lightly and follow the varies moods of the market until You can see an advantage.

As a trader You only have two jobs when You engage the market in dance.

#1 Keep from being tricked........

#2 Try to put a little money in your pocket...............


That is it!!!!!!! It is as simple as that (^_^)

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
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HIGH PROBABILITY DIVERGENCE SETUPS - basics about forex trading

HIGH PROBABILITY DIVERGENCE SETUPS ~ basics about forex trading

Welcome to the second part where I am explaining how you can use divergence with some tips and tricks I have learnt over the years to pinpoint market turning points with high accuracy. 

In the part 1 (price swing prediction) we discussed standard divergence and what to look for with your preferred indicator to spot this setup. Now its time to dig a little further and see how deep the rabbit hole goes! 

High Probability Divergence Setups!

Through years of trial and error I have discovered what works and what does not. Divergence by itself is a bit hit and miss, you never really know if the divergence will play ball or not. This is probably why many traders give it a try then decide to leave it for something supposedly better. Sadly, they didnt know how close they were to the pot of gold!

By combining divergence with some simple price action tools we can turn that hit and miss setup into a very accurate entry technique.

Before we go into these tools, let me show you my absolute favourite type of divergence. I call it the DTD & DBT (double top divergence / double bottom divergence). This type of divergence has pinpointed trend reversals more times than I can remember. All you are looking for is a double top or double bottom in price then for your preferred indicator to also show strong divergence. 

Below is an example of a DBD on the GBPUSD 4H chart, this setup captured a 700 pip trend reversal! In all examples below I am using RSI indicator set to 6 for divergence.

I know what youre thinking, that was cherry picked and just a one off right? Wrong, these setups happen all the time across all pairs, in fact lets take a look what happened at the end of the 700 pip move shown above.

Yep you guessed it another DTD which again captured a trend reversal of almost 900 pips!

The reason DTD and DBD setups are so powerful is because they combine confluence of support or resistance into the setup. In order to have similar success with standard divergence you will need to be extra picky about the setups you choose. Look for setups that happen as price is coming up against strong areas of support or resistance.

Timing Your Entries!

Entrys can be tough because most entry techniques are lagging and therefore get you into the move late eating into your potential profits. But dont worry, I am going to show two price action entry techniques I use all the time with astonishing success trading divergence setups.

Once I have a DTD/DBD or standard divergence with strong confluence I start watching price action at the close of each new candle. I am waiting for one of the two candle formations below to clearly appear. 

Once the candle formation forms and the candle has closed (very important) I enter at market with stops above/below the candle formation.

If you take another look at the two setups above on the GBPUSD you will see that both setups triggered with an engulfing candle formation! A fluke? Nope, this happens all the time :-)

Ok, so thats part two of this mini divergence course over and done with hopefully it has provided you with some new tools to add to your trading toolbox. Remember, the key to success is to be picky, wait for strong confluence to line up or better still a DTD/DBD setup.

We are not done yet though,  Follow me over the next few days for more awesome divergence tips and tricks.
Have fun & good trading!

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