Wednesday, January 13, 2010
Saturday, January 2, 2010
Forex Success Key Points And 7 Reasons of Forex Trading
3 Primary Reasons to Trade with Asia Kapitalindo
1. Asia Kapitalindo is a very respectable broker.
Aside from being registered to all three Indonesian futures associations: Bappebti, BBJ and KBI, there is no bad word-of-mouth nor bad review from the internet about Asia Kapitalindo. News spread really fast on the internet and yet there has NEVER been any bad mouthing of Asia; that's pretty impressive we must say.
2. Asia Kapitalindo provides a fixed spread of 5 pips.
There are many international brokers that claim to provide low pips as low as 1-2 pips but widen the spread to tens of pips during certain times. Asia Kapitalindo's spread might be relatively larger than the
Forex Faculty thinks that forex trading is the ultimate way to take you to your financial freedom. But why? What are the reasons? Are they good? Also as importantly, are they valid?
There are a lot of people that have reached their financial freedom state. Take Bill Gates as an example. We bet a hundred bucks that he's financially free now. Did he get there by forex trading? Maybe, we don't know him personally but we're pretty sure it was most likely due to his business in developing the "Windows" platform.
Besides Bill Gates, there are a lot of other people that do not have to worry about their financial state but they have never been involved in currency trading before. So why does Forex Faculty make this controversial claim?
We want to persuade you that there is a very strong reason to start forex trading. This is one of the financial foundations toward a successful forex trading. You must realize the potential of forex trading before you can have the right mindset, attitude, and confidence while trading. And as you have probably known, having those 3 components are crucial in to make the appropriate decision during forex trading.
So first of all, let's be clear about the state of being "financially free". We should list the criteria of being financial freedom. We believe that achieving financial freedom should have the followings characteristics:
1. having sufficient income to cover the current "wants"
2. #1 should not be bounded by location, that is, having sufficient money anywhere
3. #1 should not be bounded by time, that is, having sufficient money anytime
4. #1 should be fast paced, that is, sufficient income should come at a rapid pace
5. #1 should be based on a safe environment, that is, can get income safely without worrying about scam, fraud, and the likes
6. there has to be a LOT of opportunity for #1. That is, when 1 opportunity is gone, another one is already at hand to be operated on
7. attaining #1 should be simple enough, that it does not require tremendous hardwork.
These are the Key Success Factor in attaining financial freedom. That means, if your curent job has a very strong similarty to those characteristics, then you are pursuing your financial freedom in the most effective way possible. And this is exactly the case with Forex Trading.
Forex Trading:
1. if successful, is one of the best source of income to cover all your "needs" and "wants". That is because it promises an unlimited return while at the same time you can significantly minimize the risk.
2. is not bounded by location. You can trade currencies anywhere there is an internet connection
3. is not bounded by time. You can trade currencies anytime as long as you are connected to the internet
4. is happening in a very fast pace fluctuating market. That means, you can earn a lot of money at a very rapid rate.
5. is very safe. As long as you are trading with a registered, trustable and respectable broker, your money is basically sitting there, untouched, for your trading convinience
6. involves 2 vertical dimensions and typically more than 5 horizontal dimensions. Whether the market is going down or up, you can earn money. And when a market of a specific currency is not presenting good opportunity, you can always switch to another market.
7. And lastly, forex trading is one of the simplest forms of investments.
Forex Trading Psychology
While learning a lot about market analysis and money management is an obvious and necessary step to be a successful Forex traders, you also need to master your emotions to keep your trading performance under strict control of mind and intuition. Controlling your emotions in Forex trading is often a balancing between greed and cautiousness. Almost any known psychology practices and techniques can work for Forex traders to help them keep to their trading strategies rather to their spontaneous emotions. Problems you'll have to deal while being aprofessional Forex trader: These are very professional books on psychology written specially for financial traders:
Forex Technical Analysis
Technical analysis is the process of market analysis that relies only on market data numbers - quotes, charts, simple and complex indicators, volume of supply and demand, past market data, etc. The main idea behind Forex technical analysis is the postulate of functional dependence of the future market technical data on the past market technical data. As well as with fundamental analysis, technical analysis is believed to be self-sufficient and you can use only it to successfully trade Forex. In practice, both analysis methods are used. Recommended e-books on Forex fundamental analysis are:
Forex Trading Moving Averages
Forex Trading Moving Averages is a technical analysis indicator that lets you see the average value of a currency over a period of time. In order to calculate moving averages for the past 20 days you add the last 20 currency prices and divide the addition by 20. Because days continue to advance, the sum you'll get through Forex trading will change on a daily basis, and this is why it is called moving averages.
The most commonly used Forex trading moving averages timeframes are 20, 30, 50, 100 and 200 days. Each timeframe can give you a different view and perspective on the future of the currency, and this is why all of these figures are used periodically. Using these different timeframes you can increase your profits and also protect you lots from unnecessary losses, so use it wisely, and frequently.
If the Forex trading timeframe is shorter, price changes will affect it more. If the timeframe is longer, the moving average will be smoother and less sporadic. Moving averages are used in order to recognize a certain trend the Forex trading currency is following, and also to view a clearer and straighter graph, without any added "noise".
Forex trading moving averages are the most popular indicator to be used for various Forex trading strategies and technical analysis
Forex Trading Currency Useful Information
When you trade in the forex exchange, you are working with foreign stocks, money and corresponding kinds of products. The monetary value of one nation’s money is set against the same from a different nation to figure the value. The entire value is counted when buying and selling stocks on the forex markets. Most nations have control over the entire worth of their country with respects to monies. Those who are frequently engaged in the FX markets include banking institutions, large business enterprises, international administrations and finance companies.
So what makes the forex market dissimilar from their US counter parts? A forex market transaction is a trade between two countries, and occurs all over the world. The two countries must be 1, the country of the investor of the funds and 2, the country where the finances are being given. Most all transactions taking place in the forex market are going to be qualified through an experienced broker such as a bank.
What is involved in the forex stock exchange? The overseas market is comprised of a mixture of financial exchanges amongst nations. For those invested in the forex exchange are trading in large volumes and huge amounts of money. Those who are involved in the forex market probably have financial businesses or in the trade of very liquid assets that you can sell and buy fast. The market is large, very large and it would not be wrong to imagine the forex stock market as even more immense than an individual market exchange in any one country.
Forex traders 365 days per year, twenty-four hours a day is completed on the weekend, but not all weekends.
You might be surprised at the great number of investors who issue trades on the forex exchange. In the year 2004, almost two trillion dollars was the median forex exchange trading volume. This is an immense number of trades with regards to the amount of daily dealings at a time. If you imagine how much a trillion dollars amounts to and multiply that by two, and this figure is the money that is changing hands every day!
The forex exchange has been around for thirty years, but with computers coming into play and the global web, the forex exchange is growing exponentially as growing numbers of investors start to understand the power of the forex market. The forex exchange accounts for only 10% of the sum of all trades between two countries but as its popularity grows so will its number of transactions.
Friday, December 25, 2009
Forex Trading Downtrend Strategy - Selling at the Top
When new investors view downtrends, they often avoid placing transaction, because they do not understand that the Forex trading market can be profited from in both ways - through buying and through selling.
In order to use Forex trading downtrend strategy, first glance at the hourly chart and try to figure out what the big picture is concerning the currency. Take special notice of support and resistance levelsthat will be a good guide to invest within. Also glance on the 15 minute chart and compare the Forex trading downtrends of this chart with the hourly chart.
Ask yourself this - Is the current trend a Forex trading downtrend? If so, is it a substantial one? What are the odds the currency price will continue in this direction, and for how long? You do not have to have exact answers to these questions, only assumptions based on the knowledge you'll attain over time. Using this Forex trading downtrend strategy, you will eventually be able to use Forex trading for a living.
Other techniques include :
Using the moving averages indicator, and comparing the current price with 60 other price examples. The current price should be lower than the moving average, and this indicator should point to a downtrend.
Comparing the current price with the previous highs and lows of the currency.
Noticing the levels of tops and bottoms over the last week.
If the previous information point to a Forex trading downtrend, then you should go ahead and sell the currency pair. If the results are ambiguous, stay updated and continue to keep track of changes in the currency that can point to a good timing for entry.
ForeX Trading for Maximum Profit
Description of ForeX Trading for Maximum Profit
Take an in-depth, how-to look at Forex trading using the methods, analysis, and insights of a renowned trader, Raghee Horner. As the fate of the dollar against foreign currency generates both anxiety and opportunities, currency trading has been drawing much interest and a growing following among traders in the United States. The Forex market is particularly attractive because it trades with no gaps and has unlimited guaranteed stop-losses. The liquidity of the Forex market and worldwide participation makes for more reliable and longer lasting trends as well. Raghee Horner, legendary not only as a top Forex trader but as a master teacher of trading systems and techniques, draws on her winning tools and methods, including classic charting techniques, in this book. She'll enable you, regardless of your skill level as a trader or investor, to understand how the Forex operates and lays out a blueprint for getting starting in this little-understood but high-potential trading vehicle.
Contents of ForeX Trading for Maximum Profit
Introduction
1. Trading ForeX2. Getting Started
3. History Repeats Itself
4. The Major Players
5. Prime Trading Times
6. Reading ForeX Quotes
7. Tools of the Trading Game
8. How to Draw Trendlines
9. The Difference Between Major and Minor Trendlines
10. Fibonacci Levels
11. Visual Tools
12. Measuring Trends with CCI on Short-Term and Long-Term Charts
13. Trading Versus Investing
14. The Funnel Mindset
15. The Difference Between Scalping, Momentum, Swing, and Position Trading
16. Two Cornerstone Steps of Trade Setups
17. "Prep Work"
18. Three Classic Tools to a Three-Step Setup
19. Building a Trade
20. Rewriting Trade management
21. A Trade Going Astray
22. Placing Your Orders
23. The Five Stages of Loss
24. Tips and Tricks of the Trade
25. News "Discounting"
26. Charting the U.S. Dollar with Other Currencies
27. Raghee's Rules for Successful Trading
28. A Day in the Life of a ForeX Trader
29. Conversation with Raghee Horner
30. www.raghee.com
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