Monthly Archives: December 2017

Learn Forex Trading – Professional Forex Training – What’s the Buzz About?

So what is the buzz about trading Forex?

Well, I love what I am doing… I love it so much that I decided to demonstrate the Forex buzz with you. And if you give me ten minutes of your time, you too will understand why…

Forex is a potential solution for every single person looking to make more money; earn persistent income and take back control of their lives.

That is a huge statement, I know! But in these times of job loss, economic uncertainty and less money to make ends meet, there has to be a better solution than getting yet another job, or working twice as hard or downsizing your lifestyle.

Forex is a perfect solution! (I will explain why in a minute)

First, indulge me and take a look at your personal situation right now…

Take a minute and think about your lifestyle; your income; and how good (or challenging) life has been. Now, think about an additional monthly income that would financially take you to the next level… from getting ahead financially to being able to upgrade on whatever lifestyle choice you desire next. What is the income number you just thought of? Is it a modest $500 per month? Is it $5000 per month? Is it $20,000 per month? Now write out this statement:

(Don’t be shy… be bold!) I would like to earn $_______________ more each month.

Now take a minute and think about your current job(s); current lifestyle; current free time… what options are available for you to increase your income by this amount? Do you see yourself achieving the additional income amount your just wrote down if you continue doing what you have been doing?

Will you need to (or can you) work harder? Can you ask for raise or get another job? Do you have the time (and tuition) to learn an entirely new profession?

If you are at all like me, the answers to the last three questions were no, no, and no!

So how do you get to this next level of income? For me, Professional Forex Trading has been the answer… and I think it can work for you too! I want to demonstrate how and why it has worked because I believe Professional Forex Trading is a real option for anyone interested in trading to earn additional, persistent income.

Hold on just a minute though. Before continuing, I want to make a distinction between trading and Professional Trading; and specifically how this applies in the Forex Market. There really is a huge difference! There are many people who trade, either actively or passively. But the vast majority trade without any trading education or a structured approach to the market. And their results are average at best.

Trading in general (which is non-professional trading) typically consists of:
• Acquiring as many trading tools, indicators, news and information as possible to make buying decisions (usually not selling decisions)
• Attempting to trade, but experiencing average or worse-than-average results
• Inconsistent execution leading to larger, uncontrolled losses and minimal gains
• Inconsistent risk management leading to the depletion of trading capital over time
• Years of frustration and mixed results that rarely ever achieve professional status

Perhaps that sounds familiar to you. It did for me.

Professional Trading (the kind I am now doing) consists of these keys:
1. Mastering statistically proven trading systems
2. Incorporating rigid risk management rules
3. A Business Plan optimized for the temperament and lifestyle of the trader
4. Proper Training by other Professional Trader(s)

And actually, these keys to Professional Trading, (professional meaning trading as part of your profession), are a formula that applies to every profession in the world! Consider a doctor (or lawyer, or accountant, etc…): if I gave you all of the tools, medical books and state of the art equipment doctors use today, could you walk in and perform surgery? Even if you were allowed to try, you would NOT be very good at it. Why not? What do aspiring doctors obtain before they have the confidence to perform surgery on their own? Well, you probably already know the answer. The aspiring doctor practices alongside other Professional Doctors until he builds the knowledge and skill set to take the next step and perform surgery on their own. They NEVER EVER are allowed to just ‘try it themselves’. And thankfully, the medical community is structured to prevent anyone from just ‘trying it on their own’.

It’s a different story in the trading world, unfortunately. You can pretty much do what you want; all you need is some capital and any firm will open your account and let you begin to self-destruct!

Today, however, there are real solutions available!

If you want to create the persistent results of a Professional Trader, you MUST acquire the tools and practice alongside other Professional Traders already creating persistent results. PERIOD!

Then, only after you have the tools; have learned alongside other Professional Traders; and have practiced enough to build your own business plan, you can expect to go forward and create a persistent income stream for yourself. Without the Professional Trader by your side, you are just using your own capital to reinvent a very expensive wheel.

Great! So what does it take to learn Professional Forex Trading? (Glad you asked!)

The answer is easier than you may think… at least it is today! And that’s where the buzz of Forex is building.

There are many firms touting Forex, but a relatively few firms popping up that are addressing the aspects of Learning Professional Forex Trading. One company in particular has developed an individualized structure far beyond what I have seen anywhere else. And, their approach is dedicated to applying the four keys to Professional Forex Trading mentioned above and applying them in the Forex market. Here they are again:

Professional Forex Trading consists of:
1. Mastering statistically proven Forex trading systems
2. Incorporating rigid risk management rules to preserve your capital
3. Creating a Business Plan optimized for your temperament and lifestyle
4. Proper Training from another Professional Forex Trader

Sounds nice, and if you are anything like me, the next question is, how can I possibly learn how to do this? My life is hectic as it is! (At least that is what I said.)

But you know what… there is a very real solution that has been structured to adapt to your schedule and provide you with live, professional guidance literally on-demand! (I will share where to find this environment in a moment.)

First, I want to demonstrate why Forex is the place to learn (vs. all of the other markets) and why this market is the best I have seen to learn to Professionally Trade Forex:

Forex is the easiest and most accurate market to trade.
The Forex market is the most liquid market in the world (and it continues to grow), meaning there are more people trading Forex than any other market! This makes it the easiest market for every single trader to get in and out of trades both easily and accurately.

Forex enables you to trade only when it’s convenient for you!
Forex is available virtually on-demand. Forex is open for trading 24 hours a day for 5 days each week; making it available for every single trader to participate on-demand, on their schedule (and not during specific market times). This is the perfect opportunity to trade only when it’s convenient for you!

Forex enables you to control 50 times your investment capital.
Forex offers traders considerable leverage for their investment; enabling traders to control 10-50 times their own trading capital. For example, a $1000 investment would control $50,000 worth of currency; compared to a $1000 investment in stock being able to control just $1000 worth of stock.

Professional Forex Trading is now available to individual traders in the convenience of their own office (or home) and at the times that most suits their schedule.

So, you may be asking ‘where do I go?’…well, there lots of Forex trading firms and Forex trading systems available. Just do a search for Forex and you will have plenty to sift through. However, there is a short list of Forex environments that enable you to truly learn how to trade professionally from Professional Traders. So wherever you look, be sure to check for the four keys that must be included. Ask these questions:
- Do you provide statistically proven trading systems?
- What are your money management and risk parameters?
- What is the business trading plan that you will teach me to create?
- Who are the professional traders that will mentor me to success?
- Is there a live trading environment where the mentors are available 24 hours each day while the market is open?

Once you are trading professionally, you can take you business anywhere, but until you are a professional, if the firm or individual cannot provide good answers to all of your questions, consider going somewhere else to learn Professional Forex Trading.

There is one firm in particular that answers all four points and answers them so well, I ultimately signed up with their program. They have a live Forex trading environment open 24 hours a day and you are guided by their professional traders ever step of the way.

Remember, wherever you ultimately jump on the buzz of the Forex market, select a program most suited to your lifestyle and goals. Forex is the quickly becoming the part-time business of choice that is supplanting peoples ‘day job’ salaries.

Online Forex Trading Strategy – How to Make Currency Trading Systems Work For You

Now that there are hundreds of Forex margin brokers, millions of free Forex trading tips webistes and literally hundreds of thousands of Forex day trading strategy “home based business” Forex traders, we can say that virtually anyone with an internet connection can trade Forex with the pros.

In any power trading strategy, a proven trading method will mean that through Forex strategy testing and by using trading risk management, no more than one or two per cent of a total account value is put at risk in a single trade. This is key in the path to big Forex profits. Any trader beginning out will look at the trading methodologies available to them and decide to create trading rules for their Forex trading strategy.

Forex trading (currency trading) initiates should be aware therefore not only of technical and fundamental analysis and predicting Forex prices, but also of how to be a trading strategy tester and to have strong Forex trading rules that help them to make the big Forex profits they are seeking. The alternative is to have more experienced Forex trading systems used by more experienced traders end up causing you to lose all your money in your Forex business – the harshest possible outcome.

Having the following in place could assist you in getting started right away in Forex trading (currency trading): a Forex trading software platform; a free Forex trading strategy (or a paid for one for that matter); an understanding of fundamental and technical analysis and a trading risk management system. From these elements (and also the support of a daily Forex strategy briefing from a margin broker or some other site) you can start Forex trading in the fx market with your own Forex trading strategy rules.

Learning currency trading online needs to begin with sound trading risk management and how to manage your trading account balance by making intelligent risk decisions with your trading account. The risks can be higher with Forex because the moves in a week can be equivalent to a month in stock moves. Volatility is to be expected.

Currency trading strategy rules for a Forex business can be developed by amalgamating Forex trading systems of others or simply garnering a Forex education to include: fundamental and technical analysis; trading money management (risk management); a daily Forex strategy briefing from a “third party” and a way of creating Forex forecase signals (in other words a means of predicting future Forex prices from perhaps a technical setup on a currency pair or simply from Forex strategy testing that has been carried out.

Forex strategy testing can either be done through using a practice account through your broker or by paper trading your strategy. A third option is to use software such as Forex strategy tester which can run a simulation of what could happen if you trade by your rules with some limitations on accuracy.

Free Forex trading strategy tips are available from Forex ebooks webistes all over the web. The truth is that the Forex trading fx market needs to be treated as a business that runs like a Forex trading machine as much as possible. This is key if you are to make big Forex profits in live trading. Lack of regulation means that anyone can sell a “scalping trading strategy” or so-called “foolproof trading method” and make themselves out to be an expert or even say they are a long term bank trader when they are not. There is a need for caution therefore when deciding on where to get your Forex education because not any Forex trading guide is actually going to help in your predicting Forex prices in the near, medium or long terms.

It behooves you to go out and look at what is on offer from Forex trading websites and learn more about the global currency markets after you have read this article. Some sites are listed in the resource box at the end to start you off. Trading Forex online then presents challenges. The rest of this article will address those challenges. In order to trade effectively, a Forex trading guide is needed for the initiate in to the Forex markets to be able to learn online currency trading, understand trading risk management and how to manage money, discover technical and fundamental analysis, how these types of analysis of the market differ and how to apply them in creating a Forex trading machine.

This means that after all the cogs are set in place you will have a Forex trading machine that enables you to its like a professional and make decisions based in the moment and on the facts that are presented to you, rather than guess or gambling work – although there is invariably an element of risk, your job is to eliminate the risk as much as possible in applying your trading strategy.

To make this happen, you will start to think about what you may need in order to implement your trading strategy. For example, will you be needing a daily Forex strategy briefing from either a paid service or a free provider of its strategy briefings – such as perhaps your broker or a third party service. In your technical analysis will you be utilising traditional indicators such as those involved in a bands trading strategy (Bollinger Bands), will you rely on charts created by a its platform or other currency price forecast type service or will you be professional analyst charts to make your decisions?

A proven trading method is hard to come by. There are educators who have been trading Forex for banks and other institutions for many years. However they are still going to find it incredibly difficult to pass on their years of knowledge, at least not in the time most people want to go from knowing nothing about Forex trading (currency trading) to being an expert and making money with its as a business.

In sum, it is multidimensional. There are several aspects of absolute importance. These include strategy, both in terms of trading and money management, education – both initial and ongoing and focusing in on mastering a specific area whether that be a particular currency pair or aspect within the field – such as global economics of a particular country.

Forex Signals – How to Instantly Trade Like You Have Decades of Forex Trading Experience

Seriously consider forex signals if you are not yet trading profitably, have limited experience, or just don’t have much time to devote to your forex trading.

From the simple one email a day variety to the forex mentor who sits with you all day holding your hand as you trade, a portfolio of forex trade alerts can be virtually free and can transform you into a profitable trader instantly.

If like us you’ve ever analysed a chart and placed your own trades, you will almost certainly have also sat in front of your screen wondering if you were doing the right thing.

Questions like “have I entered this trade too late ?” and “am I trading in the right direction (long when I should be short)” will certainly have entered your mind.

How many times have you wished you had an expert trader with decades of experience guiding your trades, keeping you out of dangerous trades, and pointing you towards trades with a higher probability of success ?

We were certainly in that position many times in the early days, but always imagined the cost of having an expert on hand would far outweigh any extra profits we might make. It turns out we were quite wrong.

There are numerous services available, known variously as forex signals, forex alerts, or forex tips.

Trading signals come in a variety of formats, suited to how much of your day you can devote to trading. And yes beware, there are loads of scams out there too, but we’ll show you how to avoid them, and we’ll direct you towards the better ones.

Forex Trading Signals – many varieties

The main characteristics of forex trading signals to be aware of are as follows;

Cost: Free OR monthly subscription
Complexity: Simple “one email a day” OR Full-Service
Control: You keep full control OR the signal provider trades your a/c for you
Trading style: e.g. frequent scalper OR low volume swing trader

A free forex signal may at first seem like a fabulous idea, but as we will reveal here, you may very well prefer to pay for a free subscription service (yes, we know that doesn’t make sense – but read on)

Most forex trade signals charge a very modest subscription fee, usually in the region of USD $80 – $400 per month (although happily most are at the lower end of this range), while there are also websites which provide forex signals for no charge.

In their simplest form a forex trading signal will send you a forex alert email once a day listing trade set ups for the next 24 hours.

Some of these are purely computer generated, some are computer generated and then audited by a human expert, and some are completely researched and generated exclusively by a human expert trader who may add some market commentary to their forex forecast.

Some forex trading signals are high volume scalpers, calling many trades in a day aiming to profit a handful of pips on each. Others only call a few trades a day, aiming to profit 20 – 80 pips on each single trade.

At the more full-service end of the market is the type of forex signal service which provides you with an almost 24 hour a day live online broadcast calling forex trading tips as they occur, explaining the logic of the proposed trade and backing it up with an email or even a video clip.

Some forex trading signals will even trade their signals in your own account for you, leaving you to just sit back and watch.
This is similar to what a robot does by using forex signal software, but with the added reassurance that it’s being done by an experienced intelligent human trader rather than a dumb machine following an algorithm.

Think of full-service forex trading signals like a forex TV station, which you have running in the background on your pc or internet connected laptop throughout your day. The broadcast remains quiet when there is nothing to do, freeing your time for the other priorities in your day, then calls for your attention when there is a trade to place or manage.

You may be surprised, as we were, to discover that the prices charged by full-service providers are usually very similar to those charged by the one email a day providers.

This type of service usually also includes an interactive facility, enabling you to send a message to your forex mentor if you have a question.

Many forex signal services have very loyal memberships, and some even limit the number of members they will accept.

Free forex signals (virtually)

On the basis that time is money, in our opinion the amount of time we can now devote to other activities by not slaving over our charts for hours searching for the perfect trade set up, not to mention the improvement in our trading results, has more than paid for the very modest cost of the forex signal subscriptions.

Indeed if you apply this logic, subscription based services can effectively be free when you take into account the improvement in your trading profits, and the freeing of your time for other profitable activities.

If you think about it, a subscription based forex signal service has a built-in incentive to call profitable forex trading tips, as its subscriber base would soon evaporate if it failed to provide profitable currency trading tips. “Free” non subscription signals do not have this incentive.

Manage your risk

In any aspect of forex trading your primary goal is to manage your risk. Choosing, and trading a forex trade alert should be no different.

Even the best most experienced provider of forex signals will regularly have losing trades. However taken with all of their winning currency trade signals the overall result should still be profitable, but not all systems work all of the time. Some forex alerts may even have a completely losing week or month.

However, we have found through our own experience that the best way of making consistent profits with forex signals is to subscribe to several different currency trading signals and trade all of their signals. If one of them is having a particularly bad week, the others should compensate and still net you a profitable week, or break even at worst.

Always do your due diligence before trading a provider’s forex alerts. Good forex signal services will publish their last 6 – 12 months results on their website. Some will even show you details of the actual trades they took. Expect to see losses as well as winners – that’s just the nature of trading. Indeed, if the results show only winners, or the provider is unwilling to show you any results, or to provide contact details of some of their clients willing to give a reference be on your guard.

Most will offer you some sort of free trial or discounted special offer. Make sure that you clearly understand the terms of this offer and know the deadline by which you need to give notice to terminate if you’re not happy with the service provided.

If you compare the last 6 month’s results of all the forex signal service providers you intend to use, you should find that taken as a whole they delivered a profit.

Past performance is no guarantee of future results, but we have found that if you have a good combination of trading styles in your trading signals portfolio you are in with a fighting chance of consistent profits whatever the market conditions.

Again, think about the cashflow logic of what you will be doing here – the subscription costs of each forex signals service are already very modest, and by combining them you are increasing your probability of consistent profits. They can’t all get it wrong all of the time, and remember they are all incentivised by their membership to get it right as often as possible.

Even with experienced traders calling your trades, it’s prudent risk management to never ever risk more than 3% of your initial capital on any one trade, preferably only 1%. So, if for example your initial capital, (or to put it another way, the maximum you can afford to lose) is let’s say 5,000, the position size you take on each trade should be such that if the trade hit your stop loss, your maximum loss would be no more than 1% x 5,000 = 50.

Using forex signals as trade ideas

Even if you prefer not to follow forex tips to the letter, you can still profit from their trade idea.

For example, if you receive a forex tip trading the GBP/USD long with a 40 pip stop loss, but on analysing the charts (following your attendance on a forex training course) you feel more comfortable placing the stop loss let’s say 63 pips below entry, giving the stop protection below a visible area of recent and prior support, which happens also to be below the weekly pivot point, and in doing so are happy to have a longer range target – then go right ahead and do so.

We were surprised to find that when we did exactly this with one of our forex signals’ tips our trades actually performed better than theirs did. Two heads better than one maybe.

The point is though, that without the forex market forecast drawing our attention to that particular chart at that particular time we would never have seen that trade idea.

This also makes the point that while it may at first seem temping to let a signal provider trade your account for you, if you have the time you may actually prefer to control it yourself.

If you have been through a good forex training course and understand the concepts of support, resistance, pivot points, trends etc you should always use this knowledge to perform your own due diligence on forex alerts. You may well find as we did that you can enhance the overall performance of your portfolio of forex trade recommendations.

Free forex signals

This section would not be complete without mention of forex signals providers who don’t charge any subscription fee.

As we mentioned above even subscription charging services should be effectively free to you by virtue of calling enough profitable trades to more than cover the subscription cost.