FOREX

 forex How to get Software Forex Trading System – Do you really need? Forex Trading System Software is a tool often used by traders, but you should not let that lull you into a false sense of security. Forex trading carries with it a risk of loss, just as any trading does, and you need to be realistic about that fact. But you can reduce the risk considerably if you come closer to the trade in the same manner as any other company.A Forex trading systems is simply a systematic method that follows the course of your trading. When using a trading system, your approach to trading has the advantage of being well defined. The system has a very detailed methodology, which we will comply strictly. But a word of caution here – before you make the leap to choosing Forex trading system software, it is highly recommended that you have the proper education you need in the form of a good grounding in beginner’s Forex trading..

secrets of successful forex trading

 The 6 simple secrets of successful forex trading
grabit forex trading system
The system discussed here is not the holy grail of forex trading. There is no such thing. How to become a profitable forex trader has far more to do with mindset than with a specific trading strategy. In fact, no forex trading strategy can be profitable if a trader has the wrong mindset.
The GRABIT© System that I developed will optimize your trading mindset, so that it's better geared towards trading profitably. The system consists of 6 simple principles, who's first letters form the word GRABIT.
Is it hard to follow this system? No. That is to say, is it hard to quit smoking? Those of you who have smoked before - or still are smoking - will probably say that it is indeed (very) hard. But if that was your answer, ask yourself what is so hard about not lighting up another cigaret?
Ok, let's look at the 6 principles of the GRABIT system.

Goals
This really is the kind of principle that should play a role in every major endeavor you undertake. When you set out on a new path, it helps to set clear, definable goals to guide you. If you set no goals at all, or vague goals, you don't have anything to benchmark against. Clear goals help you stay the course on the road to success.

trading capital

Realism
This second principle goes hand in hand with the first. Many beginning traders do set goals, only they're not very realistic. Setting the goal of making $10,000 annual profit with a trading capital of $500 is very enthusiastic, ambitious and optimistic - all very likable qualities - but such mission impossibles are best left to Hollywood. And since failing to reach a goal is very demotivating, there's really no reason to set goals that are ridiculously hard to achieve.
To make sure you set realistic trading goals, you should answer the following questions for yourself:
• How much money can you invest? Your financial goal is partially based on the amount you have available for trading.
• How much time can you devote to studying? The more time you can spend on expanding your knowledge, the more trading strategies you can explore and master. Learning about different trading strategies and techniques will increase the chance of finding a strategy that really suits you.
• How much time can you devote to trading? Answering this question will help you cross out a number of trading strategies. For instance, If you have a full time job which allows for only about an hour of trading each day, you don't have to bother with intraday trading.FOREX FOREX FOREX FOREX FOREX FOREX FOREX FOREX FOREX V V VFOREX.

Analyze FOREX

 Analyze

Every successful trader will tell you that the most challenging aspect of trading is keeping your emotions out. It's hard to stay in trades that have a lot of unrealized profit, just as it is hard to close a trade that is moving against you. It's hard to keep believing in a trading system that hasn't delivered for some time, and very easy to start doubting everything you do.

You have to do everything you can to limit the temptation of making emotional decisions, and of the most important steps you can take to that end is to find out what kind of trader you are. What kind of trading personality do you have? Are you impulsive, (relatively) good at taking a loss? Are you patient, disciplined, do you believe the natural direction of a given stock is up?

In my book 'Forex for Ambitious Beginners' I go deeper into the process of self-assessment for traders and also list a number of questions that will help you gauge your own trading personality. If you already have the book, I strongly suggest you spend time on the chapter about self-assessment.

trading system FOREX

Build
You should build your own trading system, rather than plucking one from the internet. I know it's very tempting to simply copy the trading system of some (supposedly) successful trader, and it might very well be a very profitable strategy but the fact that it works for them, doesn't mean it will work for you.
The best thing to do is to take note of those strategies and let other traders tell you what works for them, to see which parts really resonate with you. Borrow bits and pieces from other people's trading strategies, but only to mold them into a strategy that is customized to your trading personality, financial circumstances and time schedule.
If you are a hobby trader and just want to stay in the market without losing too much, you don't have to spend years building your system, but if you are committed, if you are serious, if you want to achieve financial freedom, than it might take you years before you have build and fine-tuned a successful trading system of your own.
Do you think that's a little long? How about if you were starting a business and someone told you it might take you three to four years before it'd become a successful business. Would you find that very odd? Because if you do, you better not start a business. Trading on the financial markets for a living, to become financially independent, is a business too. It will very likely take you a couple of years before you master trading profitably consistently. (and don't let anyone tell you differently).
So, find a trading strategy that fits your (trading) personality. Formulate a set-up, an exit strategy and determine the right money management, and you're on your way.

Impassionate FOREX

 Impassionate

Interesting thing about the word 'impassionate' is that it has two opposite meanings. On the one hand it means being passionate about something, and on the other hand it means to be dispassionate. As a trader you need both those meanings to become successful.

Be passionate about trading

Look, if you're only in it for the money and don't care at all for charts, price development, financial news, or how different tradable instruments correlate with each other, in other words if you don't like the game , you probably won't last very long as a trader. In the beginning you might struggle, and there will definitely be difficult periods, so if you don't have any passion for the activity itself, for trading as such, it will be very hard to get through those difficult periods.

Be dispassionate when trading

You've carefully build a trading system that fits your trading personality, that has a solid set-up, exit strategy and money management. One of the main reasons you have a trading system is to keep you from making emotional decisions. So, now that you're in the market it's time to let your system do its work.

Therefore, when the position is open you are dispassionate. Your system is running the trade and you don't care either way whether or not the trade goes one way or the other. The system does not provide you with a 100% wins - no system can - but you've set it up so that it is profitable on the whole, and now you have to let it do it's work.

That doesn't mean you can never change your system, it means you have to trust your system as long as you're in a trade.

Trust forex

Trust

You have to trust your trading system. You have to trust your set-up, you have to trust your money management and you have to trust your exit strategy. If you don't, you're likely to change your system before it has had a chance to prove itself.

Let's look at an example. Say you have a system that provides 50% winners and 50% losers. A winning trade will make you 10 (pips, dollars, gold bars, doesn't matter) a losing trade will cost you 7. That means that in the long term, executing 100 trades will turn an average net profit of 50x3 = 150. So your Expected Value is 1,5 per trade.

That doesn't mean you will make 150 profit every time you execute 100 trades. A random sample of 100 trades could easily show 80 winners and 20 losers, or the other way around. But in the long run you will turn that average net profit of 1,5 per trade. That is, if you stick to the system.

If you don't trust your system, you'll switch too soon to another system and you'll never find out whether or not that system (or any other trading system) works or not. Of course you can backtest your system, and doing so will help you fine-tune it before going live, but many traders still have difficulty following a system even after it has proven itself in a solid backtest. As soon as they start trading with real money, doubt creeps in after only a couple of losing trades, and then the tweaking, changing, distrusting begins. Before long, many traders have switched to a new system entirely, after which the process repeats itself.

Of course you can tweak your system - and you should - but do it sparingly, and mindfully. You've spend time building the system, tracking the system, evaluating your system. Only when you find a leak over a longer period of time should you adjust the system.

If you don't trust the system while you're in a trade, you'll become impatient. Impatience makes you exit too soon - afraid that profits will dissipate - or too late, because you don't want to take a loss.

Once you're in the trade and for as long you're in the trade, you have to trust the system.

In short forex

 In short

The GRABIT system consists of six principles you have to follow to become a successful trader.

Goals - Set clear, definable goals.

Realism - Make sure the goals you set are realistic.

Analyze - Find out what kind of trading personality you have.

Build - Build your own trading system, one that suits your trading personality.

Impassionate - Be passionate about trading, impassionate when trading.

Trust - Trust your system when you're in a trade, don't be impatient.

Following these principles won't guarantee success as a trader, nothing can, but you'll have a lot more chance to be successful if you do.

Want to learn more about successful forex trading? Check out Forex for Ambitious Beginners

- See more at: http://www.forexforambitiousbeginners.com/blog/82-articles/93-the-6-simple-secrets-of-successful-forex-trading#sthash.hdmjFVhD.dpuf

Forex Trading for Beginners

 Forex Trading for Beginners: Basics, Tips & Secrets

Top 10 Ways New Forex Traders Lose Money

Statistics show that the initial success for new forex traders is disturbingly low. Over time, this trend tends to improve, but for many, it is too late. After posting a series of losses, many new traders will give-up, believing that forex trading is simply not for them. It does not have to be this way

Lack of Experience forex

Lack of Experience

Forex trading - like any new initiative - has a learning curve. However, unlike learning a new skill such as learning to play guitar for instance, you are not risking your entire savings while discovering the difference between a major and minor chord. Learning about the currency markets and basic trading principles solely on a trial and error basis is not a recommended approach for gaining the skills necessary to be a successful forex trader.

Most online forex brokers offer a practice version of their trading platform that offers the very same experience as a live trading application. Typically, once you create a practice account, you are free to trade and deal as you wish risking only the "play" money used to seed your account.

With a forex demo account, you can see how the market reacts to economic forces including news events without actually risking your investment capital. However, you must treat this account seriously if you expect to learn from the experience. If you simply shrug off a loss without understanding why the loss occurred, then you are wasting your time and setting yourself up for disappointment. Take advantage of this unique forex market training tool before committing your money to a real forex trading account.

Unreasonable Expectations forex

 Unreasonable Expectations

First off, stop believing all the “get-rich quick” hype still perpetrated by some forex dealers. Yes, there are those that do get rich trading forex but some people also get rich selling houses. In either case, it does not happen overnight and it might take years to gain the experience and insight to turn forex trading into a full-time, successful occupation.

As a new forex trader, if you manage to stay in the game without losing all your money in the first few months as is all-too-common – then you may be able to learn what is required to be profitable. In other words, don’t quit your day job just yet.

Absence of a Sound Trading forex

 Absence of a Sound Trading Plan

Next to having unreasonable expectations with regards to the risks associated with forex trading and the amount of time required to be successful, a common mistake made by new traders is the lack of a forex trading plan. In reality, there are two aspects to this plan; an overall objective for your trading activities and a plan for each trade you make.

Your overall objective should include the currencies that you intend to deal in, the amount of leverage you will use, and the amount of time you intend to devote to your trading activities. Your plan must also include a realistic rate of return you expect to achieve. In addition to your overall objectives plan, you also need an exit strategy plan for each trade you make that includes the upper and lower boundaries of the trade.

In other words, you must identify the level at which you will close positions and take your profits (take-profit order) or in the case of a losing trade, the level at which you are prepared to go before you get out of the trade thus limiting your losses (limit order). We’ll talk more about stop-loss and take-profit instructions later.

forex plan

Lack of Discipline
A plan is only of value if you actually have the patience and the discipline to follow it. While this can be difficult, it is necessary if you expect to be successful, and it is this very reason why developing a plan prior to the trade is so fundamental. As rates fluctuate, you can easily get caught up in the market and it is only human nature that you will begin to second-guess your actions. If, for instance, the rate moves up surpassing your original take profit point, you may be tempted to hold out for an even higher return; alternatively, if the price drops below your limit level but you believe there is a big rebound just around the corner, you may be tempted to keep the order open on the hopes of a reversal.
But does either scenario really make sense? If before you entered the trade you had a sound reason for establishing both your take profit and your loss limit levels, how likely is it that conditions have changed so much that now you are prepared to throw your previous assessments out the window in the heat of the battle? Can you be sure that you are not acting on emotion rather than sound analysis?
This is why a plan is so important – it allows you to avoid the emotion that is bound to arise during times of volatility.
Now this is not to say that a trading plan can never be revised – in fact, your overall objectives should be re-examined every few months or even more frequently if required. As well, it may be necessary sometimes to abandon a plan mid-trade if market conditions warrant but this should be the exception and not the norm.
And yes, sometimes the market can be so volatile that no amount of planning will produce positive results. In this case, maybe the best option is simply not to trade until you can get a better handle on things. Never allow yourself to fall into the “I have to do something” trap – sometimes the best plan is to do nothing.

market forex

Failure to Include Stop-Loss and Take Profit Instructions

When you place a market order and leave it open – that is, enter a trade at the market price without instructions to close the order – you are in effect, gambling with the total value of your account. For this reason, you should consider adding stop-loss instructions to all open positions.

For instance, if you are holding a long GBP/USD position, you can include a stop-loss instruction that automatically sells your long position if the rate falls to a certain level. In this way, you can limit the amount that you could lose on any given trade – even if you are unable to constantly monitor your account.

Take-profit orders are similar in that they allow you to establish the rate at which you want open positions closed in order to lock-in profits. Again, you simply need to identify the rate at which to take the profits, and the trading system closes the position without further intervention on your part.

Excessive Leverage forex

 Excessive Leverage

Depending on your experience level, trade leverage can be a powerful tool to help you maximize returns, or it can be the cause of your downfall. It is not something to be taken lightly and if you do not understand how it works, don’t trade until you do understand.

Holding Too Many Open Trades

Fighter pilots call it “helmet fire” and it happens when too much is happening around you too quickly for you to react. In the cockpit of a jet fighter, it can get you killed – as a forex trader, you may not end up dead but you will probably end up broke.

Holding Losing Positions Too Long

One of the things that really separates seasoned forex traders from those just starting out is their ability to determine when a losing trade is not going to reverse the trend. Rather than “hold and hope”, disciplined traders will take the loss and get out much more quickly.

This is another reason to set protective stops on all your trades; if you include effective stops when you submit a new trade, you can at least limit your losses without having to spend too much time “babysitting” the order. If the trade hits the stop, you will lose the amount committed but you also protect the bulk of your capital, leaving you with funds to move into something else that, hopefully, will be more profitable.

Sometimes, you just have to treat these things as life lessons – learn and move on.

forex trading rat

 Ignoring Rate Spread Fluctuations and the Impact Spreads Have on Profitability

Exchange rate spreads – the difference between the bid and the ask price – are of utmost importance and directly affect the profitability of each trade. You need to be aware that spread differentials can fluctuate wildly during the day – sometimes to the point of turning a profitable trade into a losing one.

You also need to understand that forex spreads will widen during off-market hours when volumes and liquidity are lower. In addition, spreads tend to widen ahead of important news such as an impending interest rate decision or the latest employment results.

Thinking About the forex

Thinking About the “Big Win” More Than Effective Cash Management (AKA Greed)

This one is pretty straight-forward – greed; or more correctly, how greed can cause you to enter into ridiculous trades. This must be the same gene that causes some people to keep “doubling-down” even when the odds are so against them that it make no sense at all. If you want to gamble, go to Vegas.

Learn Secrets of Forex Trading. Build Your Personal Fortune Now.

Do you have what it takes to be a successful forex trader?

Relax, we have deciphered forex secret trading.

Not just anyone can become successful in forex trading. It requires determination, drive, and dedication. Most of all discipline to educate oneself. FX-Chief Jared F. Martinez, a renowned forex expert says,...

If you want what successful people have got, you have to be willing to do what successful people have done.

Ask to any successful traders, they have educated themselves for whatever it might takes for them to be nothing but successful traders.

Yes, you've got to learn the right through blood, sweat, and tears and there is NO alternative route to being a successful trader.

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crying forex

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Forex Trading System

 forex How to get Software Forex Trading System – Do you really need? Forex Trading System Software is a tool often used by traders, but you should not let that lull you into a false sense of security. Forex trading carries with it a risk of loss, just as any trading does, and you need to be realistic about that fact. But you can reduce the risk considerably if you come closer to the trade in the same manner as any other company.A Forex trading systems is simply a systematic method that follows the course of your trading. When using a trading system, your approach to trading has the advantage of being well defined. The system has a very detailed methodology, which we will comply strictly. But a word of caution here – before you make the leap to choosing Forex trading system software, it is highly recommended that you have the proper education you need in the form of a good grounding in beginner’s Forex trading..

Software Forex

 forex How to get Software Forex Trading System – Do you really need? Forex Trading System Software is a tool often used by traders, but you should not let that lull you into a false sense of security. Forex trading carries with it a risk of loss, just as any trading does, and you need to be realistic about that fact. But you can reduce the risk considerably if you come closer to the trade in the same manner as any other company.A Forex trading systems is simply a systematic method that follows the course of your trading. When using a trading system, your approach to trading has the advantage of being well defined. The system has a very detailed methodology, which we will comply strictly. But a word of caution here – before you make the leap to choosing Forex trading system software, it is highly recommended that you have the proper education you need in the form of a good grounding in beginner’s Forex trading..

forex market

 forex How to get Software Forex Trading System – Do you really need? Forex Trading System Software is a tool often used by traders, but you should not let that lull you into a false sense of security. Forex trading carries with it a risk of loss, just as any trading does, and you need to be realistic about that fact. But you can reduce the risk considerably if you come closer to the trade in the same manner as any other company.A Forex trading systems is simply a systematic method that follows the course of your trading. When using a trading system, your approach to trading has the advantage of being well defined. The system has a very detailed methodology, which we will comply strictly. But a word of caution here – before you make the leap to choosing Forex trading system software, it is highly recommended that you have the proper education you need in the form of a good grounding in beginner’s Forex trading..