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| Articles about Forex Education |
| Forex Education – The 4 Major Mistakes That Cause 90% of Traders to Lose | | 2008-06-03 14:28:07 | | If you want to trade Forex and win the odds are against you – 95% of traders lose and only 5% succeed. If you want to win at forex trading (and the rewards are huge) then don’t make these 4 trading mistakes.If you make any of these mistakes you will never achieve long term profitability in forex trading. 1. Predicting Market MovementThis is the one major error almost all new forex traders make and it’s a critical one.If you try and predict then you are simply hoping or guessing and the market will destroy your equity.Hoping or guessing is not a way to make money in any business – forex trading included!For example, traders spot a support level and think it will hold so they buy – what they should do is:Wait for proof that the level will hold by looking for a change in price momentum that shows prices are moving back up – this is the proof.Check out and start using momentum indicators in your trading.2. Using Logic That Does Not WorkTrader’s very often use methods or syste... | | By: forex | | |
| | | Forex Education - For Building a Profitable Trading System For FREE | | 2008-01-23 15:48:00 | | by FOREX SCREEN If you trade anything you need to educate yourself and I am not taking about how the markets work and how to place orders that's easy, but it won't help you win.Below find some forex education that's free and will help you build a trading system that can make you big long term gains.The good news it's all free.You may be tempted to buy an e-book from a guru and pay but you don't need to, you can get a good solid system for free if you know what to look for.Follow the advice on f... | | By: forex for you | | |
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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 the situation is that there is no magic formula; no one single Holy Grail of Forex trading.So what do the successful traders do that the rest of us have simple not comprehended. They have mastered a process of winning where they combine and customize several factor to produce consistent results. They have mastered the Process of Trading.The Process of Trading is:Strategy > Money Management > Self-MasteryHere are some simple Forex Education tips to help you master the process of forex trading:Forex Success Tip #1 – You’ve Got To Have a PlanYou must have a written business plan that will detail all aspects of your trading. When are you going to trade, how much to risk, strategies for entries and exits are just o name a few. To become a consistent (profitable) Forex trader you have to plan your trade sand trade your plan.Simplicity rules! Don’t make this plan too complicated. One sheet of paper for you mission statement and another for your trading plan should suffice. Anything more is probably too complicated.Forex Success Tip #2 – Focus on Your Personal PsychologyKnowing yourself will allow you to master the discipline necessary to execute high quality trades with solid money management techniques. Lack of... | | By: Forex Journey | | |
| | 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 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 trading and not trying to sell you something. What a bunch of BS!Yes, I do believe all the information that one needs to trade the Forex profitably is available free on the internet. I challenge anyone new to Forex to assemble the information, study and execute without any assistance. I would imagine every trader out there has gathered free information and put it to use, but the truly valuable information often is not free!Example – I read Steve Nison’s books and DVD’s (highly recommended by the way) to gain the necessary insight into candlestick charting. I also paid a couple of hundred of dollars to attend a live seminar. During that seminar Steve Nison made one comment that allowed all of my previous work in candlesticks to click and take my trading to the next level! Was it worth it? Hell yah! That one comment was the only peice of new information I gathered, however it has paid for the seminar 100 times over. Not only that, the opportunity to network with other traders introduced new ideas and approaches that I hadn't thought of previously.In the end it's a personal decision. After all it's your money. Trading is a profession just being a pilot, a doctor or an engineer. Each requires dedicated training, ... | | By: Forex Journey | | |
| | 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 ultimate super hero for fear.In the meantime, if you are struggling with fear-based execution challenges here are some simple tips to get you over the hump.Embrace the EmotionAcknowledge your emotions. If you find yourself analyzing a trade to the point of paralysis don’t try to ignore the emotions. Separate yourself from this river of negativity. Visualize yourself on the river bank as these torrents of emotions are flowing by. You will gain great awareness to the triggers and learn a lot about who you are as a trader.Separate Fear from FactIf you fear pulling the trigger because of loss (what if I am wrong?), that will stop you from enjoying the profits the market may make available to you at any given time. Don’t avoid the action that might cause the loss, but re-frame the problem as fear itself. You have evaluated the market, figured out your reward –to-risk ration and accepted your potential for loss through your stop-loss and money management plan. At this point loss is not the obstacle – fear is. There is no such thing as failure, only feedback and that will guide you to consistent and profitable trading.Re-Think the ConsequencesIf your mind is off to the races with all sorts of possibilities what’s... | | By: Forex Journey | | |
| | 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 market at that moment. How many times have you often have you been trading, felt in rhythm with the market, and then you become distracted, surfed the web (OK, you busted me!), checked your email and all of a sudden, your trade fell apart because you overlooked an indicator or failed to see what economic releases where due out during your trading session.Trading in the here and now is not only powerful, it is extremely profitable! When you can direct your focus on your trading task without distractions you become invigorated and infused with the energy that comes from requiring yourself to be fully present when trading, you’ll find that your trading all of a sudden becomes a little easier and enjoyable. When you reach this state, stop briefly to observe it and how you feel so that you can summon this mental state more easily in the future. And journal it so you can recall all the factors that contributed to your success. That way you’ll be able to set yourself up in a repeatable, successful trading environment. Your journal will become the greatest trading tool you'll ever own!To not become fully present when trading is to short-change your Forex Education AND you’re your accou... | | By: Forex Journey | | |
| | 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 would prefer to be able to make money without risking anything. Many vendors try to gain from this fact, offering trading systems which are described as a possibility to trade with low risk and make a regular income. The fact you must accept is:If the reward is big, the risk will be mirrored. Pure and simple, risk and reward walks hand in hand. If you can't accept taking risks, you should look for another small business idea.So far it has been kind of negative, lets have a look at the bright sideTo be successful at Forex trading will not require hard work! Work smart not hard is a perfect expression here, meaning that you don't need to learn just for the sake of learning. You'll only need to learn one system/strategy. It wont take long to learn because...Simple straight forward systems work best. A simple system in Forex trading will outperform a complicated system, short term and long term. Why is that a indisputable fact?Because it will always be easier to implement a simple system in a complexed market. A complexed system with a lot of parameters, makes it much harder to find the right trading opportunities. The most reliable currency trading systems all tend to be simple.You can learn everything about currency tradingIf thats a fact, why do... | | By: Forex Journey | | |
| | 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 Forex Education!Look, the market is neither for you nor against you. It makes profit opportunity equally available as the chance to take a loss. It will take money from you no matter your age, sex, experience or effort you put into your trading. The Forex market only rewards those who are correct and nothing else. It’s the old saying – work smart and not hard.That leads to the next question; how can I be correct and smart? The answer is simple – through Forex Education. I have put together my Success Formula for trading the Forex market.1. Strategy – it’s not a one size fits all world. Different strategies play to us based on our individual trading personalities. Understanding the rules and tools are critical when applying them to the market. This comes with time and experience. Don’t short change your learning curve. It will eventually lead you to profit.2. Money Management – planning your risk will keep you in the game as you climb the learning curve as well as exploding your account once you’ve gained the experience and knowledge. Mastering this skill is not optional!3. Self-Mastery - is having the discipline and emotional control to manage your strategy and money management plan. Knowing yourself will be skill that catapults you in to the elite 5%. It takes self-awareness training, accepting full resp... | | By: Forex Journey | | |
| | 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 you're going to be a year from now with a little bit of effort and determination! Here are some thoughts to get you through that learning curve at lightning speed:1. Hard Work Now Will Pay Off LaterAll the work you do now mastering the process of trading through Forex education will pay off. Will it pay off today or tomorrow? Probably not, however, the small things done consistently in the right places will pay huge dividends later.2. Every Experience Is A LessonLearn from both your mistakes and your success equally. As the question - what lesson am I meant to learn from this and journal it!3. Focus On The PositiveLosing is a part of trading. Except it and keep your self-talk 100% positive. You will find that at the end of your Forex Journey you were your own worst enemy.4. Choose The Difficult Action Over The EasyDoing this will make you a stronger person, not just as a trader. You will find that your characteristics follow you in trading. When you grow as a person you will enhance your ability as a trader. Ask yourself - what action would a profitable trader take and then do it!Remember this when you get frustrated by learning a new trading technique or in transitioning from demo to live trading -- if you are unc... | | By: Forex Journey | | |
| | 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 smaller traders to take part in this huge money market, due to a lack of contacts and resources. But that situation has changed. More and more, individuals and smaller banks and companies have the opportunity to invest in the forex market, particularly via the internet, making currency trading an exciting and lucrative enterprise for individual traders as much as for the banking industry. However, it's important to keep in mind that currency trading of even small amounts and modest investments can be risky. Before taking on the forex trading market, it's important to be armed with a good understanding of the market itself, along with an overview of current market trends and risks. This is what makes a good free forex education resource, like free-forex-education dot com, invaluable to both new and veteran forex traders. At free-forex-education website, established forex traders as well as those with a burgeoning interest in currency trading can learn everything there is to know about the market. Learn what world currencies are making the most money. Know what the risks are, and when and how to make the most money on a trade. Acquire all the knowledge you need in order to make anywhere from a dollar to a million on this highly liquid market, without leaving the comfort of your computer. Along with using resources available at free forex education sites like Free-fo... | | By: Forex Journey | | |
| | 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 market or any endeavor for that matter. I'm not going to lie to you, trading Forex is not easy. But not for the reasons you may thing. I've found that in the end we are the ones that will ultimately decide to be successful or not. I know lawyers who have failed miserably in Forex and construction workers who are now millionaires. The separator is not IQ, but rather emotional discipline or Self-Mastery. Where is this obtained?Your Forex education is the key! Learning yourself will increase your bottom line more than any other single aspect. Let me just preview what emotional elements must be in place for you to succeed in Forex. You will notice that there is no mention of strategy, moving averages or pivot points!1. Have A Strong Enough "Why" StatementWhy do you want to get your Forex education and trade the currency market? Is it to save for retirement? Is it to supplement your current income? Is it to replace your current job? Are you trying to accelerate your college fund? The answer to this question must be strong and full of passion! This will be the one element that will get you through the dark times all traders face.2. You Must Create MomentumWhen you begin learning to trade Forex it is exciting and new, but like everything there is a finite Honeymoon period and the e... | | By: Forex Journey | | |
| | 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 Forex education.The simple truth is that the Forex market is made of human beings and price is nothing more than a representation of supply and demand, which is nothing more than the collective fear and greed the market perceives of a currency pairs value.That’s it!I have heard statistics as high as 95% of Forex traders lose money, so logic will tell you to focus in what the 5% are doing for consistent success. They know their system, execute high probability trades, and manage their risk. Most importantly they know themselves inside and out and how their emotions impact their trading.Notice I said consistent success. So how is consistency found? Well, not in books, surfing the net or even the going it alone approach. Going it alone is the craziest of all. It will succeed if you are willing to lose your account over and over again until YOU figure it out or quit! Which scenario is more likely?Let’s draw some examples from other professions that require peak performance under pressure. First, thing that comes to mind is professional sports. What do all professional athletes have in common, regardless of the sport? They all have a coach.Whether the athlete participates in a team or individual sport they all have a coach! A coach is a teacher, a coach can serve as a motivator, and a coach can point out constructive feedback fo... | | By: Forex Journey | | |
| | 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 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 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 account where it alone can support your retirement needs.Plus, you can continue to grow your account trading just a few hours per week. Your skills are easily transferable to the stock and futures market. In fact, why even wait until you're retirement age start building your life now and perhaps your dreams a... | | By: Forex Journey | | |
| | Make Forex Education Your Top Priority | | 2006-08-14 01:34:00 | | I have been doing a ton of reading this summer. This is not atypical for me. Reading is a way to continue my education and renew my focus on the task at hand. I have recently been exposed to several Forex training evaluation sites, as well attended some of those FREE Forex workshops you see on TV (some of them are still calling me!). It got me thinking… “What advice can I provide to all those who are eager to learn the currency market with all that information out there without getting burned?”I have come up with 3 Golden Rules to follow when evaluating currency training opportunities.1. Know Thy Self – This is probably the most important advice I can provide. There is good training and bad training. Often the worst training has the best marketing plans. First figure out how you best learn information. Are you the type of person that can read a manual on rocket science and build a spaceship or are you a person that needs to be shown things through personal instruction ... | | By: Forex Journey | | |
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