Forex Trading School
http://www.forex-successful-trader.com/learn-forex-trading.html — learn forex trading Read the rest of this entry
forex education
http://www.forex-successful-trader.com/forex-scalping-strategy.html — forex scalping strategy Read the rest of this entry
Forex Trading is for the ones who’d like to control their future. It all beings with understanding the popular currency pairs:
The major currencies traded include:
- EUR/USD
- USD/JPY
- GBP/USD
- AUD/USD
- USD/CHF
- USD/CAD
The quickest and most sure way to FxMastery is by taking a Forex Training Course that is taught by an experienced and known Forex Successful Trader with a track record .. Do not step into the trap of self-proclaimed Forex Gurus!
Here are several things you want to make sure of before you enroll into a Forex Training Course:
Think about the Master Trainer of this Forex Course:
1. The Forex Master Trainer is a Forex Successful Trader
2. There’s a track record that proves their FxMastery
3. Look for testimonials from real people they have previously trained
4. A big procentage of those people are Forex Successful Traders now
5. Open an account with a Forex Successful Traders Community
Wikipedia Forex Currency Pair Fact:
On the spot market, according to the BIS study, the most heavily traded products were:
- EURUSD: 27%
- USDJPY: 13%
- GBPUSD (also called cable): 12%
The theme of this site is to mock the marketing of fx to unsophisticated newbies as a simple buy and sell automatic cash machine, that can be done automatically with fx robots
The mantra of investment scam artists of “Buy low sell high” is beyond nauseating! It also continues in the “set up an account for free and start trading! They even give free software!”
The most common question we get when a first timer places a trade is “How much should I Invest…”
In other words how to entry a trade is a lot harder then it first appears. You also need to know how to place a stop loss and have an exit strategy if an unexpected news comes in.
These other elements of “How To Entry a Trade” are the real forex skills that only you can learn through experience and guidance from a mentor. These skills have a name and its called “Risk Management”
So many people fail at trading Forex because they fail to learn this simple lesson.
The next problem we see in newbie accounts is the selection of the wrong the currency pair.
The 4 most popular currencies are :
- US dollar
- Euro Dollar
- Japanese Yen
- British Pound
But we only recommend that new fx traders start with one of these 2 curency Pairs:
- USD – EUR
- USD – JPY
Beginner Tip: FX currency symbols are 3 letters, the first 2 letters identify the country and the 3rd letter identifies the the country’s currency name!
Start off by opening up a free demo account downloading your broker’s default soft trading software. There simply is not much difference with free software provide simple data streams and charts! However, there an infinite number of ways to execute successful trades, month after month!
The mechanics of learn how to place a forex trade is extremely easy and therefore it is very easy to make a mistake. For example, you select the BUY command when you really wanted to set the SELL action.
The irony is that it is so easy to place a currency trade, that your chances of making a mistake increase.
Regardless, when you set up your trading account, all you need to do is take action on 3 simple steps:
- Currency Pair – Price to enter
- Lot Size – How much you want ($) to trade
- Exit Point
You have hear it thousand times, “Buy low, sell high!”, and with Forex trading you can even make money when the market starts to head down – “Sell High, Buy Low!”.
Well that one can sound confusing, but let me explain.
You start by selling a currency pair position, in this case a currency that you below is dropping in value to its pair. For example, you believe the USD is going to lose value to the GBP (British Pound). In this case, you can start by selling the USD to other traders who believe the opposite. What you do is agree to sell some else the high USD. If you are right, later in the day you exit our position and buy the low USD to other guy and you pocket the difference!
As a beginner you can start with a min-account in live account or you can start trading a regular demo account.
In the regular account you can make a $5,000 dollar deposit and start trading with $1,000 dollars . With a 10:1 margin, this means that you are actually trading with $100, 000 – bingo you’re playing with the big money players trading international currency.
Anything is possible, in forex trading… things move so fast you are up 100% then you’re borrowing money from your in-laws. Just be aware that currency trading is a 2-way street. In other words, it is a zero-sum game, at the end of the day there is a loser and a winner.
As a newbie it is critical and important that you master to be consistent, persistent and intentional on making many “Low Risk Low Return” positions before you try to max your ROI with a 100:1 margin. Start small, with a low margin 10:1 and learn to slice small profits. Experience is the only way to learn, but you can do so with a live trading room or with a mentor.