Common Mistakes Made by Online Forex Trading Beginners

One of the biggest mistakes a beginner can make is to rush in. You need to understand the basics of currency trading before you become a trader. For instance you could lose all your trading capital if you do not understand leverage.

Develop your plan first and get a forex trading strategy and write it down. Follow your plan and strategy diligently. Failing to invest time into forex trading is another novice mistake. The exchange markets need dedication; you need to constantly monitor it. This is not the kind of investment you make then sit back and wait for the returns.

Lack of discipline can be a fatal mistake in currency trading. You need to be much disciplined. Do not make emotional decisions that can cost you. For instance, if you incur losses, do not try to trade more to get back at the market. Be rational in your decision making.

Limit your number of currency pair. In order to succeed in currency trading, try trading in only one currency pair; this will ease your monitoring and decision making process.

Do not attempt to make predictions in currency trading. Many forex trading beginners try to adopt a “get rich quick” mentality. They therefore make hasty costly mistakes like trying to predict the buying or selling prices. You can’t make predictions in currency trading.

Most forex trading beginners fail to establish a trading style. You need to understand the three trading styles, that is, day trading, long term method and swing method. Select a trading style that matches your goals.

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Forex Trading – Signals

Wouldn’t it be nice if there is something or someone who tells you when to trade or where to trade exactly? Well, wouldn’t it be better if you yourself can point out when or where to invest you’re hard earned money in the world of forex trading? This ability is possible and to acquire it, you simply have to learn trading signals namely leading and lagging.

A trading signal indicates to the trader when it would be appropriate to invest in a particular pair. Of course, these don’t come out with signs however so learning how to see them is the first priority. By taking forex classes, you will learn how to see them and hone your skills of identifying them. After that, currency trading signals and indicators can actually be identified with just two categories namely leading and lagging. First, let us define leading indicators.

A leading indicator or signal shows when and where a trend would take place and if you are successful in identifying this and trading that pair, you will be one of the first to take advantage of this trend which means more profits. However, leading signals can also be false so there is a considerable amount of risk involved with this forex trading tool.

The other indicator or signal is less risky compared to leading signals and is known as lagging signals. These signals show you which trends had already begun which you could still invest in. The downside however is that the profit you will gain is far less compared to the former indicator.

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How To Make Money By Trading In Tennis Matches

TENNIS TRADING SYSTEM

This system exploits the fluctuations in price that occur during a tennis match. There are three things which will have a big impact on the price of the two players.

Break points, or even more of an impact from a confirmed break

Winning a set

Any sign of a player being injured and liable to retire

The price fluctuations are to my eyes out of proportion compared to the actual chances of a player eventually winning or losing the game, and this is where the system comes into its own.

The rules of the system are as follows

Only bet in mens games run by the ATP, where there is in-play betting offered by Betfair. These are easy to find just go into the tennis section of the Betfair site, click on the coupons tab, and then click on ‘Today’s in-play tab’).

Only bet in matches where the price of the favourite is between 1.20 and 1.50, if there are many matches in a day that fit the bill then tighten this to 1.30-1.40.You have to be able to put a bet on the underdog when the match goes in-play so make a note of the start time of the match on the ‘Rules’ tab for the match.

CAUTION – Matches quite often do not start at the stated time, they could get delayed by weather or a previous match overrunning, so you have to be flexible enough to be able to check regularly when the match is likely to start. You can get a clue by studying the order of play and live scores via the internet.

Before the start of play you need to check the prices offered by all your active bookmakers by using Betbrain . You select the book offering the best price for the favourite. You then use my trading spreadsheet (free from my website) to calculate your stakes. Enter the odds for the favourite into cell i6, then calculate your required stake for the underdog, by putting odds into cell h6, gradually altering them until the net profit shown in cell k10 is 15% (or just over).

So now you place your bet on the favourite with the chosen book (which could be Betfair, or any other of your active books), this can be done several hours before the match starts. Then when the game goes in-play you place your bet on the underdog at the calculated trading odds.

I am using a progressive staking plan for this systemFurther details can be found on my website Tennis Gambling Systems

Advantages And Disadvantages Of Online Trading

Online trading means trading of stocks through internet. In simple words online trading has brought the stock exchange literally to our homes. There are dedicated sites that offer online trading platform to indulge in trading of stocks. Since the introduction of online trading there has been a surge of investors, primarily new investors who were earlier shying away from the market. Online trading has made it possible to trade in different kinds of securities like stocks, bonds, futures, options, ETFs, forex currencies and mutual funds. There are some obvious differences between online and traditional trading. In traditional trading the activities are carried out through a broker, he helps the trader with suggestions on how to proceed in the trade. The transaction is carried out through archaic communication tools like telephone. The broker assists the trader in the whole process in the form of collecting and providing information for making better trading decisions. In return of this service the trader charges a commission on every trade, which is most of the time on the higher side. The traditional form of trading is a time consuming process and generally benefits long time investors who dont do much trading.

On the contrary there is a change in the process when it comes to online trading. Stock brokers have their websites through which they provide a platform to indulge in online trading of stocks. The platforms are very useful because they provide additional information like market data, news, charts and alerts. Market data is provided in the form of levels namely 1.5, 2 and 3. Day traders are the kind of traders who require every level of market data. Trading decisions are taken by the trader himself. Traders are allowed to trade more than one product, one market and/or one ECN with his single account and software. It is important to note that all trades in online trading are executed in (near) real-time. Online brokers in return of their service charge trading commissions and fees for the usage of the software.
Advantages

Fully automated trading process with access to advanced trading tools.
Online trading of stock allows trading in real-time market data and multiple markets and products.
Possible to indulge in faster trade execution that facilitates day traders in swing trading.
It is easy to open and manage an account and does not have any geographical limitations.
Online trading favors active traders, who trade in bulk but demands lesser commission.

Disadvantages
Online trading is risky if trading is done extensively on margin
There are chances of trading loss in case of mechanical/platforms failure
Online traders fall sort of constant support and suggestion
The fee of online brokers vary

Having said everything, online trading has been a big boost for the stock market.

Forex Trading System Robots. 3 Things to keep in mind when you’re about to choose.

Right now, thousands of people all over the world are using robots to trade their money, and we’re seeing an increasing number of forex trading robots entering the market. Some of them have been around for quite a while, and a few of them are actually pretty good, but most of them are not. This article will teach you 3 things you should keep in mind when you’re deciding which forex trading system to go for.

1. What do YOU have to do?

When choosing which robot to aim for, it is essential to decide whether you want a fully automated system, or a system based on tips, but yourself in charge. There are systems that will tell you as little as two simple words: “Buy” or “Sell”, and that is advice based on analyzis made by pro’s. The decision to sell or buy at that time is yours only. A fully automated forex trading system will trade your money without any influence by anyone.

2. How flexibel does your forex system need to be?

I would say, very flexible. I have tried robots that works on only one single currency pair, and with bad results. I would like my robot to be able to run several pairs at one time. This ability gives your control over your investment, and makes it possible for you to tweak the settings for maximum profits. The basic settings made by the creators is working good and is stable, but profits are not maximized. Here is a great for the system I use myself.

3. Does it support “demo mode”?

This is important. Because I would never try and run a system without having the ability to run in demo. No one likes to throw their hard earned cash on a system without knowing the shots. The system I currently use myself performs very well from the first day, but I had to try it demo first to get comfortable with it, and then I switched to real account. The results were very good, but not good enough. After reading the guide mentioned above I quickly adjusted my current settings, and the profits trippled overnight. That is why it is important to have the ability to trade in demo, so you can play around with the settings and get the feel of things first.

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Forex Training What to Look for in a Forex Training Program

Should new Forex traders take Forex trading courses or join a Forex training program? Definitely yes; by now you have probably heard that only 5% of traders achieve consistent profitable results when trading the Forex market. The main reason for this is the lack of education. Dont get me wrong here, taking a Forex training program or a Forex trading course wont guarantee profitable results, nothing can, but choosing the right Forex training program or Forex trading course will definitely put the odds in your favor.

Before spending any amount of money on any Forex trading course or Forex training program there are some important aspects you need to take in consideration. There are many training programs available, but not every one of them suits the needs of every trader.

The first thing you should be looking in a Forex training program is the content of the material. Unfortunately, most courses or training programs focus or spend most of the time on basic concepts. Though these basic concepts are important, spending most of the course on them wont help the trader to make consistent results.

The following subjects are what I consider the most important aspects of trading and every training program or trading course should address:

Forex trading basics. Review basic concepts such as: margin, type of orders, a little background, bid/ask, rollover, etc. You need to make sure you understand every single concept to perfection.

Main drawbacks of Forex traders. Being aware of the common mistakes made by Forex traders and knowing how to handle them will prevent new traders from making those mistakes.

Technical and fundamental analysis. These are the two main approaches adopted by Forex traders. Knowing how to properly apply each concept will definitely put the odds in your favor.

The three pillars of Forex trading. I consider that these three subjects have the most impact on every trader trading account.

Forex trading system development. Having the right system is a must if you want to have consistent profitable results. Having a system that doesnt fit you will cause a series of problems that will make your trading account vanish away (second guessing the system, not following your system, etc.)

Money management. This is considered by many successful traders to be the most important single aspect of trading. Money management helps to increase your profits geometrically and at the same time limit your losses (i.e. a good risk reward ratio of about 2:1 will make you money in a Forex trading system that is right only 38% of the time.)

Trading psychology. Being aware and knowing hot to handle the psychological barriers that affect every trader decision will put the odds in your favor.

Other important aspects every training program should include are: Developing habits for success (such as discipline patience, taking responsibility of every action, commitment, etc.,) understanding and taking our trading as a business, risk and trade management.

Have some advice when doing Forex trading

Many people want to enter Foreign Exchange market as that involves lot of money to be exchanged. There are many kinds of major trading centers that are existing in developed countries from UK, Japan, and US etc. when you trade in Forex trading, and then there is no set venue for same. This kind of Forex trading can be done 24 hours in a day, and that can be done every day from Monday to Sunday.

There are some major Forex trading centres and one main reason is that these countries do not have any pegged or fixed currency rates. Here comes the role of central bank that is responsible for maintaining good reserves for foreign exchange. All this is done to stabilize economy of any country. Any of these local exchanges are done in order to make sure that adequate flow of reserves is made with same. Inflation rates could be lowered down with the help of stable foreign investment. With fixed currency rates, inflation rates could be easily lowered down and demand for foreign products could be stimulated more and more. For longer period of time, this kind of things must be very difficult to maintain.

One of the major things while you get in to Forex trading involves getting hold of right broker. Before you take in to plunge of getting in Forex trading, you need to find a Forex broker who could enter forex trading every day. This trick would help you in finding the trickiest of the trade holder. You must read all the reviews and go through all of the terms and conditions attached with the same broker. Many of these choice depends on your trading preference and available investment capitals.

You need to master the basic things in Forex trading before you jump in to it. You must read up all articles and join forums in order to gain more information. You can also make many online as well as offline friends who could help you with same. You need to keep your eyes and ears open. Correct Information is very necessary in this time. You must stay in touch with the floating market as it will help you generate income in healthy way. You must analyze the trading news and your judgments should be dependent on many factors not just the news you are getting. When you enter in to Forex trading market, you need to plan with only one marketing strategy that you should follow. You must make a clear and concise plan. Price action strategy is one of the proven strategies that you need to follow if you need more profit flowing in your account. There is no single strategy that will promise you to give you complete success but at least some percentage of success could be gained with following any of these strategies.

Indicator For Day Trading Gold

Attention traders – if you have ever wanted a gold (GLD) indicator for NinjaTrader or TradeStation, there’s a new, fully-automated system / method called the Gold Line.

What does the Gold Line do? When trading, the Gold Line indicator tells you when to go long and short by plotting a line across a GLD chart on either NinjaTrader or TradeStation. This new indicator allows traders to stay on the correct (profitable) side of trades: stay with long trades when price is above the Line, and go with short trades when price falls below the Line. This price action behavior is the only rule a trader needs to remember. Price action method techniques go hand-in-hand with this indicator.

Here’s why the Gold Line is the best indicator for GLD trading:

* Fully automated indicator – easy to install, use and understand. No parameters to change; no configuration; nothing to cause confusion.

* Affordable – for less than $100 a month, you can use the Line whenever the market is open. Six month licenses are available.

* Proprietary software – no other indicator on the market can offer its exclusive functionality

* Free customer support

* Compatible with other indicators – the Line is identical in operation with NinjaTrader and TradeStation.

Whatever platform you’re using, rest assured that you’re getting the premier gold trading indicator. The Line does not change during the trading day once it begins plotting. You’ll see how price interacts with the Line, bouncing off of it to maximize profits. Signals are given for when you should enter and leave the market. Free webinars offer you the chance to see the Line before before you buy. Interact and ask all of the questions you’d like.

Want to find out more? The offical website is . See demonstration videos at the YouTube account (go to and search for user goldlinetrader).

Know forex strategies and get better knowledge of the market cycles

Know forex strategies and get better knowledge of the market cycles What are these strategies required? Forex simply means the trade of currencies. There are many currencies in the world which fluctuate in their value daily, hourly etc. So people try to make some profit from these fluctuations, since you can buy and sell any currency. But there a risk involved in this trade. You can never be sure which side a currency will move. And hence the term strategy comes into picture. You will have to use some kind of plan of action so as to be safeguard from the never stopping fluctuations. There is still no strategy available that can give you a 100% surety about the fluctuation of the market. But you can have some plans which are very comprehensive, complex and tricky but they give good idea about these changes and help many investors all over the world to gain from these changes. There are two constituents of a ; technical analysis and the fundamental analysis. Technical analysis: When the whole strategy is based in charts and their interpretation, this part comes into picture. This part will help the investor in knowing the boom and the depression region of the market. This plan of action involves mathematical formulas and derivations to give you results. Fundamental Analysis: This is done on a macro level. When you are trading between currencies of two countries, you use a detailed fundamental analysis of the pair. The two economies of the nations are evaluated and day to day changes of the political and financial word of those two nations are closely followed since these also have an effect in the currencies. When you go out to win, you should always think of using both the constituents of the strategy. Only when both the parts are worked upon simultaneously you will understand the detailed fluctuations and how is it affecting your investment. Apart from using all these strategies and plan of actions, it is very important for a trader to be realistic and practical in approach. The trader should have a positive attitude towards the whole market and a rash emotional decision should not be taken under the influence of affinity and love towards a currency or pair. For beginners, we will advice to start using basic level forex strategies so that they too make smooth and sound transactions in the forex market.

The Best Tactics For Short Term Forex Trading

In terms of being the best tactician in short-term forex trading, we recommend momentum trading and for good reasons, too. Its main aim is to achieve the profit target as soon as possible with as little risk possible under the volatile circumstances that surround each forex transaction. Basically, you take advantage of the momentum when it is on your side by entering the forex market either on a long or short basis.

You will require three kinds of moving averages to accomplish your purpose, namely, the moving average convergence divergence (MACD), the 100-day simple moving average (SMA), and the 20-day exponential moving average (EMA). You will see why later.

For the MACD, be sure to use the default setting on the 5-minute chart. Said default setting is: Signal ENA=9, First EMA=12, and Second EMA=26. To start on this short-term forex trading strategy, open the 5-minute chart and look for the right currency pair. This means the pair trading below the SMA and EMA. Take a look at the MACD histogram. You will enter into a long trade when the MACD starts turning positive but stay within 5 candles. Your stop loss margin must be positioned at the candles low point, which should be above the EMA and SMA.

You will exit half of your position the moment the trade changes in your favour but be sure that it is still within the amount risked. The other half of your position will follow a trailing stop within a -15 pips on the 20-day EMA. This forex trading tactic should pay off handsomely under the right circumstances.

Now, lets assume that that your chosen currency pair is trading in the opposite direction above the EMA and SMA that is. In this case, you must be patient and wait until such time that the currency pair is trading below both the EMA and SMA by 15 pips, minimum.

In reverse of the first situation, you will enter into a short trade with the MACD turning negative within 5 candles. (The first situation was go long on positive turn). Your stop loss is at the high point of the first candle breaking through the EMA and SMA. (In the first, it was at a low point). You will also exit half of your position with the other half set for a trailing stop at +15 pips on the EMA. Again, this forex trading strategy should be in your favour when you can closely monitor the charts.

There are other strategies for short-term forex transactions, of course. Two examples are the use of 2 charts, namely, the hourly and the 10-minute charts as well as the 200-bar MA. You can also explore these options but we recommend trying the momentum trading strategy first.