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| Unique Visitors: 33 |
| Total Unique Visitors: 139548 |
| Visitors Out: 2345 |
| Total Visitors Out: 4389 |
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| Do you have what it takes to become a successful Forex Trader? |
| 2008-04-13 14:36:00 |
Forex trading, or any trading for that matter, is an occupation that requires experience and the accumulation of proficiency not unlike any other highly skilled profession. Whether you are a leading executive at a major publically traded company, a professional golfer or trading from your kitchen table, there are 5 key ingredients that one must possess in order to become successful.1. You must be Passionate about what you do.As Forex traders we all face one unique set of circumstances that does not exist in any other profession. We get rewarded for when we succeed and equally punished when we don’t! Could you image a corporate worker one quarter receiving a significant accomplishment bonus and the next quarter actuall...
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| Trust Yourself |
| 2008-03-19 11:12:00 |
When you turn on the TV (especially mainstream media) you are inundated with news of the demise of the dollar. Business news, national news and even your local news channels are leading into events with reports of the dollar and the economy. Analysts are featured and opinions are smattered across the airwaves in an attempt to provide an oracle response to current economic events.Beware the source and follow your system.In these volatile times it is easy to get caught up in the hype provide by all the news media and analyst. It is natural to want to look for guidance. Remember to trust your system and more important trust yourself. You, after all, are the single largest determinant of your success.Your approach should remain consistent, almost impervious to the events occurring because...
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| How to Adopt the Traits of a Successful Trader |
| 2008-03-18 10:25:00 |
Hey Traders,Here's a post by Heather Johnson that will serve you well in your trading – Enjoy!--------------------------------------------------------------------------------------------------Not all Forex traders were cut from the same cloth, but the most successful investors do have several things in common. Whether you are a newcomer to trading or you are a seasoned pro who is trying to improve your game plan, the following suggestions may help you out. Below are five ways to evolve into a successful trader:1. Become a lifelong student – Never stop learning about the business you are in. If you think you know everything about the Forex market, then think again. The successful trader is a lifelong student who constantly absorbs new information ab...
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| Regret Will Kill Your Forex Account |
| 2008-01-09 11:15:00 |
OK, so you just pulled the trigger on a trade and every bone in your body told you not to. You violated the rules dictated in your trade plan and you watched a small profit immediately turn into a major loss.Sound familiar? What do you do?You get over it, that’s what you do! Regret over a bad trade will eat your account from the inside out. Regret is a more powerful emotion than most traders recognize. It is like the unwanted guest that keeps living off of your bank account until there is no more left. It takes most traders into a tailspin that they will never recover. It can lead to dangerous psychological results such as failure to pull the trigger over even worse, paralysis by analysis.“Yeah, but…” (I will save the disempowerment of this...
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| Suddenly, It's a Bleak Midwinter for Housing and Lending |
| 2008-01-07 18:00:00 |
If you're wondering how the housing market collapse in the US will impact your favorite Central Banker (and interest rates), here's an interesting article to help support your fundamental Forex analysis:***************************************Suddenly, It's a Bleak Midwinter for Housing and LendingBy Susan C. Walker, Elliott Wave InternationalJanuary 7, 2008 In the bleak midwinter, Frosty wind made moan,Earth stood hard as iron, Water like a stone…(From "A Christmas Carol" by Christina Rossetti)Shawn Colvin sings a beautiful song based on this poem by Christina Rossetti, reminding us of the bleakness of midwinter. That is exactly where the housing market seems to be now – facing its very own bleak midwinter of falling prices, rising mortgage rates and ...
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| A Forex Trader’s Lifestyle |
| 2008-01-03 11:11:00 |
Whether you are a novice Forex trader or a seasoned veteran one aspect you must always take into account is to ensure your lifestyle supports successful trading. Forex trading is no different from any other endeavor in life. Whether you are employee, employer or self-employed you must take the time and effort to ensure your environment is conducive to your success.Take a look at your surroundings and make sure your lifestyle supports you being a successful Forex trader. Take in all the factors of success (how YOU define success) evaluate your factors to make sure your trading is:Specific – Do you have specific trading goals and objectives? Do you have a trading plan? Ask yourself is your plan to general?Measurable – Do you have systems in place to objectively measure your performance? If you don’t know your numbers then do you really have a trading business?Has a Timeline – Do you have a timeline for which you are measuring your goals and objectives against?Controllable – There are many aspects in Forex trading you can’t control, ensure that the areas your can control are firmly defined and managed with discipline.Programmed Into Your Lifestyle – Are your Forex trading activities programmed and congruent with your lifestyle? Balance is important so make sure this passes the test!Taken in Small Steps - This business is a marathon and not a sprint. Start off with small steps and build. The best practice trading principals do not change with account size.Accountable – Forex trading (or any trading for that matter) can be such an isolated activity. Find ways to have others participate and hold you accountable for your goals. Make it real and measurable!True Forex success is built through smart work and dedication. By establishing the trading lifestyle that best supports your personality will guarantee prolonged success. Remember, it is your Forex Journey. Be sure you enjoy the ride!Happy Trading!!>
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| The ONLY Difference Between Professional Traders and Amateurs Is ... |
| 2007-12-31 13:51:00 |
He's a blog posting from one of my friends on mySpace, Barry. To close the year I couldn't resist posting this for thought!****************************************************Here's a revelation that changed my trading forever:"Successful trading is imply a business of not making mistakes."That has become such a cornerstone to my trading that I actually framed that saying and put it on my wall over my trading flat screens.One of the most productive things you can do to become a profitable trader is to make a list of your most common mistakes.Awareness is the first step.Then watch your behavior and don't allow yourself to make those mistakes any more.Each of us has her or his own challenges, so you must make your own list.But to get you started, I'll expose my sins and share with you what h...
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| Are you a forex trader or a gambler? |
| 2007-12-28 14:32:00 |
Here's an article I found in my files. Given the approach of the New Year, now is an excellent time to re-enforce those good trading habits and thoughts ... enjoy!!How many pips do you need to be wealthy? The answer may surprise you. A very common thought and question among us forex traders. Of course this is variable in desires; however it is a good idea to put things into perspective. In reality, the following is what separates the gamblers from the traders. About 2 years ago I sent out a similar letter that changed the outlook and the lives of many traders. While most at the time were mini-traders a simple 25 pip gain equated to a mere $25.00. "How can I live off of that?" I was repeatedly asked. It didn't take long to put this into perspective...
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| Clarity |
| 2007-12-27 12:52:00 |
Clarity. This is my word, my mission for 2008. I am going (notice I did not say “try to”), let me repeat, I am going to achieve clarity in all aspects of life including my trading. As many of my readers know I had a very eventful 2007. I became a dad for the first time. This has brought a new meaning to life. One that many of my friends have mentioned, but one I truly didn’t understand until I experienced it myself. It has been the greatest single joy of my life, not to mention a major adjustment in trading schedule. I define have one simple New Year’s resolution that will permeate my life and my trading – seek clarity in every aspect of my Forex trading and perform every action with intent! I know what you are thinking; it seems kind of pie in the sky, but think about it. We should approach all our actions with clarity and intent. Design the outcome well before we enter a currency trade. Keeping mental focus it what really separates long term profits and losses. I encourage each of you to take the time now and revisit your Forex trading plan. Learn from your mistakes, because they are your most valuable teachers. My goal is to always present clear intent into my Forex trading in 2008, what’s your intent? Happy New Year’s from ForexJourney.com>
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| Why the Fed is Such a Lousy Wizard of Oz |
| 2007-12-01 19:54:00 |
Interesting article by Susan C. Walker - check it out!By Susan C. Walker, Elliott Wave InternationalSeptember 7, 2007 Central bankers who "follow the yellow brick road" end up in Jackson Hole, Wyoming, every Labor Day weekend for their annual symposium sponsored by – who else? – the Kansas City Fed. (Who can forget Judy Garland saying to her little dog, "Toto, I've got a feeling we're not in Kansas anymore," in the 1939 movie, The Wizard of Oz?) The Jackson Hole Resort serves as the Federal Reserve's equivalent of the Emerald City, as Fed governors and presidents meet with central bankers and economists from around the world to discuss economic issues. This year, the symposium focused on housing and monetary policy. Usually, the Fed chairman ...
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| How To Recognize a Financial Mania When You're Smack Dab in the Middle of One |
| 2007-11-16 19:41:00 |
By Susan C. Walker, Elliott Wave InternationalNovember 12, 2007 When you're caught in the middle of a bad storm, you don't really care whether it's a tropical depression or a full-strength hurricane. You just know you're hanging on for dear life. The same idea applies to financial markets. When a market is trending up strongly, it's hard to tell whether it's just a bull market or a more dangerous financial mania.The recent tremendous ride up for global and U.S. financial markets, including the Dow, looks and feels more like a mania than a mere bull, says Elliott Wave International analyst Peter Kendall. This distinction is important to recognize in the rising stage, because manias always result in a crash that takes ...
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| Forex Education Tip – 5 Steps to Successful Forex Trading |
| 2007-08-22 14:27:00 |
Close to 95% of all Forex traders will lose money. We're not just talking about novices, either. Whether you trade Forex for a living, as a hobby or just for fun, odds are against your success. That's a simply astonishing fact. However, the remaining 5% of Forex traders somehow manage to break even and there are those lucky few that actually make money in the currency market – consistently!Like the TV show says … “How’d they do that, anyway?”That's the million dollar questions, isn’t it? Countless books, seminars and expos have been hosted to answer this very question. That sad fact is that thousands of books have been written and countless seminars and interviews have been conducted in an attempt to answer the magic questions. The reality of th...
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| Forex Education Tip - Stops |
| 2007-08-19 19:14:00 |
Let me just give you a quick tip about setting stop losses. I once took a class where I was instructucted to place my stop loss 30 pips below my entry. Why 30 pips I asked? I was told it was an "acceptable" risk. Based on what? I see a lot ot traders basing their risk management strategy on some pre-defined pip value risk without any consideration for support and resistance.Don't do this!Like I say - trading Forex is a process and setting your stops is a key component. Your stop should be placed near support and/or resistance based on the charts and not some pre-defined pip value. Caution: stay away from the herd!Simply:1. Locate support and/or resistance for your stop2. Calculate your target to determine a reward-to-risk ratio3. Determine whether you can afford the trade4. If all systems are a go then pull the triggerSetting a pre-defined stop makes no sense if all you can guarantee is to get stop out of your trade and have it eventually go in your direction. Let the market tell you where to protect your trade and when to take profits. This is why 2 traders can look at the same charts, establish the same trade and one trader pull the trigger an the other traders pass. Follow YOUR trading plan and begin to take your trading to new heights. Your Education">Forex Education is the path to true Forex profits!Happy Trading!!>
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| Is Paid Forex Education Worth It? |
| 2007-08-14 12:16:00 |
I am scanning the internet looking for information about how I can be a better trader just like most people out there. I am on a quest looking for each and every golden nugget of information out there on the web. I have alerts set up so Google can email every keyword topic of choice.I have been getting fired up recently about the amount of just plain bad Forex advice slewed across the web. It is definitely a “buyers beware” market and every word of advice (including mine) should be taken with a grain of salt. Why? Because everything I say and write is based entirely on my own experiences. One of the topics gaining some momentum is the fact that everyone pitching a Forex product is not a trader, but a marketer and if they were a trader they would be trad...
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| Forex Education Tips - Overcoming Fear |
| 2007-08-13 15:50:00 |
Have you ever been in a situation where you have evaluated the market, saw your strategy set-up perfectly and then just couldn’t pull the trigger? You become paralyzed, unable to move even though you know your high probability set-up has just triggered.This fear is very real for many traders and very detrimental to your account. Fear is a powerful emotion, distorting fact from fiction and often creating an emotional response. Many experts tell you to trade without emotion, but is that really practical? We are indeed human. Remember the basis for the reaction is real, but the fear usually is not.Fear blocks your ability to execute high probability trades and we must find strategies to manage our fear. With time comes experience and for traders it is the ult...
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| Forex Education - Fully Present |
| 2007-08-08 21:34:00 |
This means rejecting thinking that doesn’t support your current trading objectives, including rejecting non-trading related mental chatter (what’s for dinner, balancing your check book, who’s on American Idol tonight, whatever). Your goal is simple -- to zero in on the trading task in front of you. Enter your personal trading zone. Deny all incoming calls. Don’t check your email and please do not even think about logging into your Instant Messenger account. You’ve got to be in a place and time where you can trade without being disturbed.Ask yourself – Where Am I? The answer is - HereAsk yourself – What Time Is it? The answer is – NowWhen you become fully present on the task of trading, you are able to achieve peak performance and gain an edge on the other traders in the mar...
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| We're #1 |
| 2007-08-06 12:37:00 |
Well, as I return to my desk from a break to welcome the new addition to my family I was pleasantly surprised to received notification that Forex Journey has been ranked as the #1 Forex Blog by CurrencyTrading.Net on their “Top 25 Forex Bloggers.Check it out ==> http://www.currencytrading.net/2007/top-25-forex-bloggersThanks everyone for inspiring me to follow my passion!Happy Trading!!>
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| Forex Education Mind Set |
| 2007-07-18 16:24:00 |
Here's a forex education blog post I like and thought you might too! You can find the article at:http://financial-blogs.blogspot.com/2007/07/forex-trading-do-you-have-what-it-takes.htmlor below:Forex Trading - Do You Have What It Takes?There are some facts that you simply must accept to have a fair chance to be successful at Forex trading. Let's have a look at what these facts are and if you can succeed in the worlds most exciting investment environment.Trading markets are not scientificThe thought of approaching Forex trading by applying science is appealing. However, Scientific theories dont and never will work, because humans determine the market prices, and doing so, they dont consider scientific criteria.Most people...
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| Forex Education Success Formula |
| 2007-07-10 11:54:00 |
You read about the risk trading the Forex market every day. I talk to many successful traders and investors about the Forex market and it is mind blowing the fear this market produces amongst the conservative investors and daredevil attitude of the aggressive traders. Yes, it is a fact that 95% of traders lose money in Forex. I was taught that if you want a better answer then you have got to ask a better question and my question is why?The answer is rather simple – most traders seek the path of least resistance and that will inevitably lead to failure. They failed because they didn’t take the time to gain a proper understanding and cheated their Education">Fo...
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| Forex Education - No Pain, No Gain |
| 2007-07-08 19:13:00 |
Forex trading breakthroughs have a lot to do with your ability to get comfortable with being uncomfortable. Success usually comes from staying in the here and now, as well as accepting the fact that the market literally can do anything at anytime.Many of your actions now may seem frustrating - such as designing a trading plan, sticking to just a few currency pairs, learning the intricacies of a strategy. It can seem downright overwhelming too. Just remember that each step you take in the process is adding value to your eventual trading success.Why is it that so many people are always seeking the easy way out? I guarantee the amount of time searching will be less than just digging in and climbing that learning curve as fast as possible. Just imagine where yo...
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| Todd Judkins Uses Squidoo |
| 2007-06-29 07:00:00 |
Some of you have been asking, so here's my Squidoo site for Forex education:http://www.squidoo.com/forexjourneyEnjoy,Todd>
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| Forex Education Mastering The Forex Market |
| 2007-06-27 20:44:00 |
Forex Education is always king. That being said, I thought this was pretty interesting...Investing in the forex, currency market even with small capital is very risky advanture. Before taking on the forex trading market, it's important to be armed with a good understanding of the market itself. This is what makes a good free forex education resource, invaluable to both new and veteran forex traders. The forex, or Foreign Exchange, market is the largest financial exchange market in the world. Every day, more than 1.8 trillion dollars are traded on the forex market. In the past, it was often difficult for sm...
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| Don't Quit On Your Forex Education |
| 2007-06-20 13:55:00 |
Whether you are my student or not I genuinely care about your Forex Education. More importantly I'm passionate about every one obtaining a solid financial education - a skill sorely missing in the world. I chose Forex because of the numerous advantages over the other liquid financial markets. It has allowed me to achieve a high level of financial literacy and provide an outlet for my long held desire to teach.More importantly, Forex education and training has given me the confidence to control my financial future - and that is truly priceless. That being said, we must look past the hype in the marketplace and focus on what it really takes to personally achieve in the Forex m...
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| A Tip for Accelerating Your Forex Education |
| 2007-06-18 20:00:00 |
I teach a lot of traders and at the beginning they all have the same question...How long will it take me to learn this? How much time can I expect to spend on my Forex education.You know there is no answer to this. There are many variables to this answer, but it really comes down to the qualities needed to overcome most obstacle -- patience, determination, persistence and perseverance.I know, yeah but..Yeah, we have all those qualities, but we still want to accelerate the process. My recommendation is to live at the razor's edge. If you have traded Forex for any time you will realize that the difference between profit and loss is literally a razor's edge. With experience comes minor tweaking of our trading process until we have found consistency. Consistency gained through Forex training.It's kind of like baseball (my favorite trading - sports analogy). If you are a .320 batter your baseball career you will most likely be elected to the Hall of Fame and bestowed major accolades. If you hit .280 everyone will tell you that you had a nice career, but no Hall of Fame call will come your way.The difference between the two is that the .320 hitter got one more hit every 15 at bats .. that's it!A minor increase in your Forex education is all that it will take for you to gain access into the Hall of Fame for Traders. Commit to yourself that you will read another chapter of the technical analysis book tonight, or spend 30 more minutes in your trading room will lead to astonishing returns down the road.It is the little things that will ultimately give you the edge.Happy Trading!!>
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| Forex Education - Avoid the Online Currency Trading Trap |
| 2007-06-07 12:25:00 |
| Online currency trading in increasing in popularity and with that comes the good, the bad and the “you know what.” Like any business venture there are people out there waiting to take advantage of you and people who genuinely want to help.Some people hocking learn to trade packages are internet marketers riding the wave of a hot market in search of profits off of someone else’s products. Others are skilled professional seeking to satisfy the teacher in all of us.How do you get the necessary skills to become a successful Forex trader? How do you know which product or system is the Holy Grail?The truth is that this does not exist!Get your
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| Forex Education - Banking |
| 2007-06-01 20:20:00 |
Forex Nation -Here is an interesting video called "The Money Masters - How International Bankers Gained Control of America" It is a long view so you may want to rip it ot a DVD.http://video.google.com/videoplay?docid=-515319560256183936Just another part of the Education">Forex education process!ToddForexJourney.com>
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| Forex Education for Your Future |
| 2007-05-30 15:29:00 |
Here's a statistic that may shock you.Of the 77 million Baby Boomers in the United States planning for retirement in the next 10 to 15 years, 75% are hurtling towards unexpected financial difficulties, including having to go back to work. Unfortunately may people won't realize how ill-prepared they are for retirement until it is to late...Here is my recommendation. Get you financial education now!And while you're at it, a Forex-Education">Forex Education with Forex Journey is the way to go.Now let's fast forward a few years and you have taken he time to invest in your Forex education, which is truly an investment in yourself. You have learned to control your risk. You have built up your acc...
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| The Power of Expectation |
| 2007-05-22 16:36:00 |
One of the most powerful emotional triggers we can bring into our trading is the power of expectation. Expectations are the fuel that makes our trading goals seem to rush towrds us. Therefore, setting postive expectations is a critical component of our emotional mindset, especially when we are trading.Here are some thoughts to help you set profitable expectations before beginning your trading session:Trade to be great! Enter every trade with the expectation of making profit and not losing money.Embrace the challenge of the market. It is through these challenges were growth lies.Don't focus on the results. Instead focus on the process and the results will take care of themselves.Believe in yourself.Commit that nothing w...
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| Taking a Cue from the Past |
| 2007-05-17 21:32:00 |
Last night I was doing some much needed spring cleaning in the office. I was going through that box in the closet. You know the one? The one that has been sitting there for years and you say every year you are going to get to it!I was going through this box and it was like going down memory lane, but one of the items I came across just floored me. Back in my early days of trading the Forex market I use to write out cue cards of areas I was struggling with adjusting to the new market. Prior to driving into currencies I traded the stocks and options entirely on end-of-day trading, and jumping into the hustle and bustle of the Forex market brought a new level of emotional intelligence.I thought you might enjoy excerpts from my cue cards. I still use them, now they are just internalized!Cue Ca...
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| Special Offer - Forex Journey Membership |
| 2007-05-16 19:57:00 |
We are seeking Charter Members! OK readers, this is the special offer I was telling you about. Now it is up to you to take action!Join Forex Journey now and enjoy the benefits afforded to Gold Members for the price of Silver Membership. And this benefit is for the life of your membership! That is a $70 savings every month!Follow the link below to take advantage of this special offer. Action is rewarded and once the memberships fill up this offer will never again be extended.You can only join with this special rate by clicking on the link below:Yes, register me for charter membership!Browse our membership levels and compare benefits:Compare member benefits!Sign up and participate in our Forex Forum:Forex Journey Traders Forum!Welcome to our community of Forex traders!Pass this on to your family and friends!!>
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| Forex Strategy: Self Awareness |
| 2007-05-14 10:26:00 |
Trading the Forex market I have found to be a great analogy of life. We trade as we live, with our strengths and weaknesses. Our feeling about ourselves, our cultural views on money and abundance, and especially our perception of wealth creep into every aspect of our trading. This is the reason I place such a heavy emphasis on personal self-mastery. Becoming aware of whom we are as an individual, our strengths and weaknesses, and our perspective on life will determine how well we can deploy the correct principals of strategy and risk management and remove the mask of mental poverty in our trading. Self-mastery is taught within the context of Forex trading, but in reality it is all about identifying who we are as a pe...
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| Seeking Charter Members |
| 2007-05-10 20:30:00 |
Yes, it's true!!I am about to unleash a shameless self-promotion post, but I justed want eveyone to know Forex Journey.com is here!Trade Using One of the Most Powerful Forex Trading Systems in the World! We believe success-orientated thoughts lead to success-orientated actions and actions are always rewarded.Are now ready to take action now!! Forex Journey!!New to Forex? Click here to sign up for a FREE Live Webinar designed to Introduce you to the Forex Market.BECOME A MEMBER a learn with a community of currency traders. Click here to see what's in it for me with our membership levels!Ready to expand your knowledge? Click here to sign up for our Online Web Seminar series. These 60-90 presentations will drill down in detail on selected trading topics to ...
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| Learn Forex Trading: Which Forex Strategy Is Right For Me? |
| 2007-05-09 12:59:00 |
Learning to trade Forex is not an easy task, but by no means is it difficult either. Learning to trade Forex does not require a great intellect or a college degree. Doctors have failed as traders and construction workers have become millionaires. Trading is all about discipline, determination and perseverance. The key is to understand who you are as a trader and trade to your strength. Leveraging your strength can be magnified by deploying the appropriate Forex trading strategy.There are hundreds, if not thousands of Forex trading strategies out there. Logic will tell us that there is a currency strategy out there which leverages our strengt...
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| Online Currency Trading: Making A Profit By Trading Forex |
| 2007-05-07 19:51:00 |
Yes, learning Forex trading is key, but can anyone really make a business out of trading the Forex market? Or, shall we say, can one make enough of a profit to make a living trading the Forex market? Many would not attempt to answer that question, and realistically, there is no real easy answer. Some people do, in fact, make a living as traders, not only in Forex, but in the stock market, futures market, or other types of investment instrument markets. However, it’s important to understand that making a profit in the Forex market, or any other kind of liquid financial market, takes time and effort. It’s not something that you can suddenly make a decision to do and expect to become successful without Forex education, mentoring and most important your personal desire, dedication and perseverance. Making a profit in Forex trading requires knowledge of which economic and geo-political news events moves a currency pair and its seasonal fluctuations. You need to know what affects the spot price and how to adjust your trades accordingly. In other words, you need to understand the fundamentals, as well as the technicals. In order to learn the important things about the Forex market, you need to have experience; it is not something you can learn from simply reading a Forex dummies book, surf currency trading sites on the web and following the global currency trends. The key to making a profit trading the Forex market or any trading in any other market for that matter, is knowing when and how to trade, and equally important, when not to trade, and that comes not from reading the newspapers or a book but from gaining the experience. Trading with a mentor can accelerate the process. If you are limited on the amount of funds in your Forex trading account, you might want to consider utilizing a mini account or super mini account and compound that account to profit. The Forex Journey trading process, once learned, will have typical deviations built into the methodology. Adjusting to the nuances of currency trading will become inherent and you will learn to process a $5,000 account applying the same principals as you would manage a $500,000 account. The power is truly in the Forex trading process. Choosing currency pairs that are less volatile (read more liquid) gives you a better chance of making a profit during your early trading transactions. The experience will allow you to gain insight into how the Forex market works and teach you the best way to conduct Forex trading business. Once you gain the experience that you need, you are in a better position to consider some of the more volatile currency pairs since you will be better educated with the knowledge of how certain events affect the price of most currencies. The most important thing is to remember that not to rush into anything. Do all of your research first so that you will make the right choices in your swing trading activities. Choose a Forex education course and mentor that specializes in swing trading. In the end, you are only in competition with yourself, so there is no need to think you need to make a decision right away on any currency pairs you need to trade. Your goal should be first getting comfortable with the strategic concepts. Second, master money management techniques and finally, learn to trade from your personality.Happy Trading!!>
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| 3 Simple Tips for Building Wealth in Your Trading Account |
| 2007-05-05 02:38:00 |
Forex traders tend to focus on the strategic aspects of their trading and most Forex education organizations are geared to satisfying this specific need. Have a conversation with a currency trader. Over 90% will speak about indicators, candlestick patterns or the latest combination of technical studies that can get you into trade 2-3 candlesticks before anyone else.Look for the 10% who speak about not being sure where the market is going and how they manage their stops. I got news for you; these are the successful Forex traders!Yes, Strategy is important, very important; however, it is only one of the three pillars of successful Forex trading. To achieve success all three pillars must be in place and strong. Knowing yourself is the path to ultimate s...
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| 3 Simple Tips for Setting the Stage for Profitable Trading |
| 2007-05-03 19:44:00 |
You know what they say; trading Forex is 80% mental and that only 5% of all currency traders make money consistently. If this is so, and I believe it to be, then we are all in an extremely competitive environment. This means that when we trade, we must always be on our “A” game, our peak performance period. Here are 3 Tips">simple tips to prepare you each day for the competitive playing field that is the Forex market:1. REST Before we turn on the computer and look at the currency pairs, it is imperative that we have had adequate rest. Proper sleep allows us to recharge our batteries and extend our period of maximum focus. Sometimes we all wake up and things are just not in balance. Issue...
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| The Missing Element |
| 2007-04-27 18:17:00 |
When it is all said and done currency trading is all about the human element and all too often this is the missing element when it comes to Forex training. The human element consists of two components each trader must completely understand:1. Others traders in the market2. ThemselvesPrice bars and candlesticks are merely graphical representatives of supply and demand of the market. And what or rather who is the market? Other traders! Whether they sit in a skyscraper in New York, an brokerage office in London or like me, a home office in Phoenix, the market is nothing more than other traders. Understanding who these traders are, how they react to events and their potential impact on the marketplace is crucial. This is why we caution our student around...
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