Forex Trading Tips

By Dan Ho

For anyone interested in forex trading, education is essential. There are many online forex courses. There are “home-study” programs, seminars, “webinars”, books, DVDs, free demo accounts and more. In fact, with all the information that is out there, it would be silly to begin trading without first educating.

Some of the best sites will, in fact, offer a complete package of forex trading courses that will take the beginners, who know little or nothing about forex trading, and teach them everything they need to know to become successful forex traders. In the home study forex courses, students learn vocabulary and types of orders. They learn to read forex charts, an important part of successful trading. The online forex trading courses teach investors to grow their accounts by determining market direction. Online mentoring provides access to a professional trader and one on one tutoring. A two day on-site forex course sometimes the program to reinforce everything learned.

Other interesting and helpful services that most online forex trading platforms offer is the “demo” account. The demo accounts are like a mini forex trading courses that will help new investors learn to trade quickly. These accounts are set up to work like a regular account, but the trades are not real. With no risk, you can learn to place orders and set stops, watch your profit increase (or your loss) as you watch exchange rates changing. These accounts also include charts with live streaming information. It is still wise to choose one of the many forex courses available, but when used along with a demo account (you usually get a 30 day trial) everything makes a lot more sense.

There are many books written on the subject of forex trading, but most of these focus on forex strategy. Before you can plan a trading strategy, you need to learn how to trade. Forex trading courses are far superior to reading a book.

It is commonly stated that 90-95% of all new traders lose their initial investment in the three to six months following their first trade. Sometimes even seasoned investors lose focus or forget to change their trading plan when indicators call for it and lose “big”.

Forex courses are no guarantee of big profits, but professionals agree that education reduces risk in an already risky market.

Click here to read about our recommended forex courses. Or learn more about forex at http://www.forex-trading-reference.com.

Article Source: http://EzineArticles.com/?expert=Dan_Ho

Posted by Orce Dimitrov at 6:39 AM | Permalink | Comments

By Stephen Todd

This article is all about FOREX trading to make you rich - and we’re going to give some alternatives to conventional investment wisdom. Why? - Because most traders in FOREX follow the norm and make average gains - while this article is about making spectacular gains from FOREX Trading and making money fast!

The Aim

Here we are going to assume you know how to trade, and you have a methodology for FOREX trading you are happy with, and can apply with discipline.

What we are going to show you here, is how to change your system from making average gains, to making spectacular gains, with simple changes in trade selection, money management, and mindset.

FOREX trading offers the opportunity to make money fast - so lets see how it can be done.

1. Accept Volatility and Risk Cheerfully

All good FOREX trading systems incorporate volatility.

You can't have a profitable FOREX trading method without taking calculated risks, and taking losses - if you can’t accept risk, then don’t trade.

Many traders back away from a market because it’s too risky - however, risk also means reward! If you are a trader who doesn’t like volatility, then go and find something else to do.

Drawdowns are part of trading; it’s volatile markets that make FOREX trading fun and highly profitable.

To the well-informed FOREX trader, a drawdown is not something to fear, but something to enjoy.

Remember: volatility = big opportunity!

2. Trade Infrequently

Many traders trade frequently and always like to be in the market. They think that in FOREX trading if they are not in the market, they will miss a move, or that by trading more frequently, they will make money - wrong!

The big moves in FOREX trading, with the best risk to reward, come a few times a year, and you should trade infrequently.

Focus on the trades that make the really big gains

3. Don’t Diversify

Diversification is an accepted wisdom, believed by most investors in Forex trading, but it won’t make you money fast, - it will do the exact opposite.

4. Money Management

So far, you may think that we are being a little rash, but this is not the case.

We are focusing on the BIG opportunities that allow us to make meaningful gains, and this is actually, where money management becomes so important.

If you are taking risk, you need to control it - risk as much as 10% per trade, but increase your chances of success by:

1. Buying options at or in the money, to give you staying power - and prevent yourself from getting stopped out.

Many traders lose, not because they were wrong in market direction - they just were stopped out by a volatile counter move - and options will give you staying power.

2. Many traders start trailing their stops to close, they then get stopped out – but the trade runs on to make spectacular gains. Don’t fall into this trap - keep your stop in its original position - until the move is well in profit, before moving it up.

You’re looking to make money fast, and you’re trading selectively - so have the guts to go for a trade when it looks good - and milk it for all it’s worth.

5. Understand the Power of Compound Growth

IN FOREX trading the way to make money fast, is to understand the power of compound growth. For example, if you target 50% a year in your trading, you can grow an initial $20,000 account, to over a million dollars, in under 10 years.

New! A valuable FREE Currency Trader CD containing 9 critical trading reports, tips, strategies and FOREX trading info. Visit our web site now and grab your CD http://www.tradercurrencies.com

Article Source: http://EzineArticles.com/?expert=Stephen_Todd

Posted by Orce Dimitrov at 8:20 AM | Permalink | Comments

By Stephen Todd

In FOREX trading, there are six major reasons traders lose money. If you can avoid these pitfalls then you can join the minority of winners that pile up the big profits consistently.

Here are the trading traps that will cause you to lose money:

1. The Contrarian’s Disease

You should have a contrary opinion to the other Forex traders in the market – most traders lose money, so you want to trade in opposition to the herd.

Most traders lose because they lack discipline and money management - but they’re very often right about market direction. It’s the trader’s inability to maximise these opportunities when they’re trading the FOREX - and stay with the trend, that makes them lose money.

Many traders are looking to pick tops and bottoms, and never focus on trend following. Picking tops and bottoms is impossible. You can’t predict the turning points in FOREX trading - so you need to change your focus to trend following, not prediction.

2. The Chartists Trap

In FOREX trading many traders fall into the trap of putting all their efforts into studying charts. Studying charts is important - but you must not be too subjective, or you will end up losing.

Avoid methods that need too much subjective analysis, such as Elliot Wave and cycles - and gravitate towards indicators that define trends - such as moving averages and momentum oscillators.

Be objective and not subjective in your FOREX trading.

3. Ego

FOREX trading attracts some of the cleverest people in the world, these traders are smart - but they also have big egos. An ego is a bad trait in FOREX trading - as it means you always want to see the market, as you want to see it - and not how it really is.

Traders need to ask themselves this question: Do you want to make money or feel smart? The market won’t accommodate both of these desires – if you want to make money, leave your ego behind.

The humble trader who has an objective and disciplined FOREX trading plan, realizes the market can make him (and everyone else) look stupid. However, he’s only interested in making money, and he’ll generally out perform an ego filled trader, who wants to beat the market.

4. Guru Syndrome

When you’re trading in the FOREX market, it’s tempting to follow someone who’s made money - or says they have.

It’s a fact that most traders want success given to them by someone else, and these traders can’t take responsibility for their own actions.

In the game of FOREX trading, the only way to succeed is on your own - if you can’t accept this, then do something else.

5. Chasing your Tail

Many traders get impatient when FOREX trading - they start trading using one method, get frustrated with it when it’s not performing - they then switch to a different method, and so on.

Bad periods are normally followed by good trading results (if you’re using a soundly based system) - so patience and discipline are needed. By frequently chopping and changing systems, you’ll lose money.

If you have a trading plan that you believe in, then stick with it - and stop chasing your tail. Stay focused, and be patient with your system.

6. Using Options Incorrectly

When you’re FOREX trading, using options gives you staying power - and limited risk, which makes options a great trading tool.

Many traders use options incorrectly - they focus on buying options with small time value, and that are way out of the money. This is a guaranteed way to lose money when options trading! What you need to do is focus on buying options, at or in the money - with lots of time value - also use spreads to increase your chances of success.

In conclusion - Don’t try and be too smart - the above pitfalls are made by some of the brightest traders around. In most cases these mistakes come from thinking you have to be clever, or use complicated methods to succeed - however the reverse is true.

Keep your method simple, keep your focus, accept responsibility for your actions, and accept that the market will make you look stupid at times – it does it to everyone!

If you watch out for the six pitfalls outlined above, you’ll be able to make big long-term profits - and that’s the ONLY goal in FOREX trading.

New! A valuable FREE Currency Trader CD containing 9 critical trading reports, tips, strategies and currency trading info. Visit our web site now and grab your CD http://www.tradercurrencies.com

Article Source: http://EzineArticles.com/?expert=Stephen_Todd

Posted by Orce Dimitrov at 2:07 AM | Permalink | Comments

By Sebastian Litrell

FOREX is beneficial to a number of people. FOREX investment is simple and this investment can be done either over a long period of time or just as part time activity. Investors make a lot of money by FOREX trading. Investors who choose to invest in FOREX are mostly well familiar with the market and notice the current situations in countries of the world. There are some strategies which give investors more advantages and help investors to realize even greater profits in the short-term gains.

One of the most useful of FOREX trading strategies is a known as leverage. This FOREX trading strategies are designed to take advantage of more funds that are deposited and through this FOREX trading strategies you can maximize the FOREX trading benefits. The leverage of FOREX trading strategy is suitable for a regular basis and it allows investors to take advantage of short term flow in the FOREX market. Stop loss order is another common used FOREX trading strategy. It is used to protect investors and it creates a predetermined point at which the investor will not trade. This helps investors to minimize losses. However, this strategy can backfire and the investor can stop their FOREX trading which can actually go higher but increase the risk. Opportunity is given to the individual trader whether or not to use this FOREX trading strategy. An automatic entry order is another FOREX trading strategy which is commonly used and also allow investors to involve into FOREX trading when the price is suitable for them. The price is predetermined and once it reached the investor,it will automatically invest into the trading. It is vital for FOREX investors mentioned earlier knowledge of these FOREX trading strategies if you wish to be successful in FOREX trading. Besides that, advanced charting programs are the major tool among many different tools that can help to trade out FOREX. With global interactive training program with live video and the daily World Bank FOREX report helps investors to gain a lot of the trading expertise.

Business trade is happening everyday among all countries. Currency trading volume is relatively 24 hours a day. From analysis report, there are substantial peaks trading activity when British, European, US markets are open simultaneously, which is from 1pm GMT to 4 pm GMT . By overlapping in the times when these markets are open, overall foreign currency trading volume is decided which markets are open. Obviously the foreign exchange market is considerably volatile and random. Trade in the famous currency pair at the same time every day will give trader a surprise on similarity of trend. By trading within the time frame, traders may be able to observe either minimize or maximize the level of risk. To be more secure on currency trading, technical analysis tool like Bollinger bands should be used to quantify volatility. The main advantages are to compare volatility and relative price levels at certain time limit. Another analysis skill which is good to know is the trading pivot system.


Article Source: http://EzineArticles.com/?expert=Sebastian_Litrell

Posted by Orce Dimitrov at 5:00 AM | Permalink | Comments

By Stephen Todd

With the many FOREX currency systems available, you can in theory, simply turn your computer on and follow the signals to generate automatic profits.

That’s the theory - but the fact is, there are many FOREX currency systems sold that are obvious scams, and the systems will never work.

This article aims to give you tips on picking systems that can make money, and avoid the scams.

There are two main reasons why most FOREX currency trading systems fail to live up to their Hype:

1. Black Box Systems

These are systems where the logic is not revealed to the buyer - and for a FOREX currency trading system to be used successfully, the trader must have confidence in it.

If you don’t know the logic of the system, you will not have the confidence to follow it when a losing period occurs.

You need to follow a system rigidly to make money - otherwise you may as well not have a system in the first place.

Using a FOREX Currency trading system is all about having the discipline to follow the system - and if you don’t have confidence in the logic, you will never do this.

2. Curve Fitting and Optimization

Another indication of a currency trading system that is a scam, is one that involves curve fitting, or optimization.

These systems give a fantastic performance in back testing - because of the tweaking of the system rules, to make them fit the data, and produce profits.

A trader once likened this to shooting holes in a barn door, and then drawing circles around every hole - to make each shot look like a bull’s-eye.

Let’s face it, we would all be millionaires, if we had tomorrow’s news today - but we don’t.

Avoid any system that offers unique rules, or many variations for trading different markets.

If the system is based on solid logic - it should work on ANY trending market, and should not be optimized, or curve fitted to an individual market.

You will never see a hypothetical performance that fails!

Most unscrupulous vendors achieve great performance by making the system fit the data - and this causes the system to fail in real time trading.

Here are four tips, to help you separate out the scams, from the good FOREX currency-trading systems:

1. The Rules and Logic are Fully Explained

You will then have confidence in the system when it suffers a string of consecutive losses.

2. Some Evidence of a Real Time Track Record

Has the system has made money in the real world of trading?

This is the acid test of a system. If there is not a real record, look for a hypothetical audit done in real time - many systems do this before launching, and this gives a good indication of how the system will perform.

3. Look for Simple Systems

There is absolutely no correlation between how complicated a system is, and its profit potential. In fact, simple systems tend to work best, and will tend to be more robust in the brutal world of trading.

Most of the top FOREX currencies trading systems are based on simple logic.

4. Avoid any Optimized System

As already mentioned, if the system has sound principles, and then it should work on a broad spectrum of financial instruments - avoid any system that optimizes individual markets.

Not all FOREX currency trading systems fail - but if you want to get one that works, be realistic and do your homework first.

Building Your Own System

Most traders like the concept of FOREX currency trading systems, but like to have some input to customize the system to their specific personality. If the system offers some human input, it is easier to implement the trading system with rigid discipline - which is the key to building consistent profits.

New! A valuable FREE Currency Trader CD containing 9 critical trading reports, tips, strategies and currency trading info. Visit our web site now and grab your CD http://www.tradercurrencies.com

Article Source: http://EzineArticles.com/?expert=Stephen_Todd

Posted by Orce Dimitrov at 1:15 AM | Permalink | Comments

by John Gaines

Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?

This two-part report clearly and simply details essential tips on how to avoid typical pitfalls and start making more money in your forex trading.

1. Trade pairs, not currencies - Like any relationship, you have to know both sides. Success or failure in forex trading depends upon being right about both currencies and how they impact one another, not just one.
   
2. Knowledge is Power - When starting out trading forex online, it is essential that you understand the basics of this market if you want to make the most of your investments.
   

   The main forex influencer is global news and events. For example, say an ECB statement is released on European interest rates which typically will cause a flurry of activity. Most newcomers react violently to news like this and close their positions and subsequently miss out on some of the best trading opportunities by waiting until the market calms down. The potential in the forex market is in the volatility, not in its tranquility.
   

3. Unambitious trading - Many new traders will place very tight orders in order to take very small profits. This is not a sustainable approach because although you may be profitable in the short run (if you are lucky), you risk losing in the longer term as you have to recover the difference between the bid and the ask price before you can make any profit and this is much more difficult when you make small trades than when you make larger ones.
   
4. Over-cautious trading - Like the trader who tries to take small incremental profits all the time, the trader who places tight stop losses with a retail forex broker is doomed. As we stated above, you have to give your position a fair chance to demonstrate its ability to produce. If you don't place reasonable stop losses that allow your trade to do so, you will always end up undercutting yourself and losing a small piece of your deposit with every trade.
   
5. Independence - If you are new to forex, you will either decide to trade your own money or to have a broker trade it for you. So far, so good. But your risk of losing increases exponentially if you either of these two things:
   

   Interfere with what your broker is doing on your behalf (as his strategy might require a long gestation period);
   

   Seek advice from too many sources - multiple input will only result in multiple losses. Take a position, ride with it and then analyse the outcome - by yourself, for yourself.
   

6. Tiny margins - Margin trading is one of the biggest advantages in trading forex as it allows you to trade amounts far larger than the total of your deposits. However, it can also be dangerous to novice traders as it can appeal to the greed factor that destroys many forex traders. The best guideline is to increase your leverage in line with your experience and success.
   
7. No strategy - The aim of making money is not a trading strategy. A strategy is your map for how you plan to make money. Your strategy details the approach you are going to take, which currencies you are going to trade and how you will manage your risk. Without a strategy, you may become one of the 90% of new traders that lose their money.
   
8. Trading Off-Peak Hours - Professional FX traders, option traders, and hedge funds posses a huge advantage over small retail traders during off-peak hours (between 2200 CET and 1000 CET) as they can hedge their positions and move them around when there is far small trade volume is going through (meaning their risk is smaller). The best advice for trading during off peak hours is simple - don't.
   
9. The only way is up/down - When the market is on its way up, the market is on its way up. When the market is going down, the market is going down. That's it. There are many systems which analyse past trends, but none that can accurately predict the future. But if you acknowledge to yourself that all that is happening at any time is that the market is simply moving, you'll be amazed at how hard it is to blame anyone else.
   
10. Trade on the news - Most of the really big market moves occur around news time. Trading volume is high and the moves are significant; this means there is no better time to trade than when news is released. This is when the big players adjust their positions and prices change resulting in a serious currency flow.
    
11. Exiting Trades - If you place a trade and it's not working out for you, get out. Don't compound your mistake by staying in and hoping for a reversal. If you're in a winning trade, don't talk yourself out of the position because you're bored or want to relieve stress; stress is a natural part of trading; get used to it.
    
12. Don't trade too short-term - If you are aiming to make less than 20 points profit, don't undertake the trade. The spread you are trading on will make the odds against you far too high.
    
13. Don't be smart - The most successful traders I know keep their trading simple. They don't analyse all day or research historical trends and track web logs and their results are excellent.
    
14. Tops and Bottoms - There are no real "bargains" in trading foreign exchange. Trade in the direction the price is going in and you're results will be almost guaranteed to improve.
    
15. Ignoring the technicals- Understanding whether the market is over-extended long or short is a key indicator of price action. Spikes occur in the market when it is moving all one way.
    
16. Emotional Trading - Without that all-important strategy, you're trades essentially are thoughts only and thoughts are emotions and a very poor foundation for trading. When most of us are upset and emotional, we don't tend to make the wisest decisions. Don't let your emotions sway you.
    
17. Confidence - Confidence comes from successful trading. If you lose money early in your trading career it's very difficult to regain it; the trick is not to go off half-cocked; learn the business before you trade. Remember, knowledge is power.

The second and final part of this report clearly and simply details more essential tips on how to avoid the pitfalls and start making more money in your forex trading.

1. Take it like a man - If you decide to ride a loss, you are simply displaying stupidity and cowardice. It takes guts to accept your loss and wait for tomorrow to try again. Sticking to a bad position ruins lots of traders - permanently. Try to remember that the market often behaves illogically, so don't get commit to any one trade; it's just a trade. One good trade will not make you a trading success; it's ongoing regular performance over months and years that makes a good trader.
   
2. Focus - Fantasising about possible profits and then "spending" them before you have realised them is no good. Focus on your current position(s) and place reasonable stop losses at the time you do the trade. Then sit back and enjoy the ride - you have no real control from now on, the market will do what it wants to do.
   
3. Don't trust demos - Demo trading often causes new traders to learn bad habits. These bad habits, which can be very dangerous in the long run, come about because you are playing with virtual money. Once you know how your broker's system works, start trading small amounts and only take the risk you can afford to win or lose.
   
4. Stick to the strategy - When you make money on a well thought-out strategic trade, don't go and lose half of it next time on a fancy; stick to your strategy and invest profits on the next trade that matches your long-term goals.
   
5. Trade today - Most successful day traders are highly focused on what's happening in the short-term, not what may happen over the next month. If you're trading with 40 to 60-point stops focus on what's happening today as the market will probably move too quickly to consider the long-term future. However, the long-term trends are not unimportant; they will not always help you though if you're trading intraday.
   

6. The clues are in the details - The bottom line on your account balance doesn't tell the whole story. Consider individual trade details; analyse your losses and the telling losing streaks. Generally, traders that make money without suffering significant daily losses have the best chance of sustaining positive performance in the long term.
   

7. Simulated Results - Be very careful and wary about infamous "black box" systems. These so-called trading signal systems do not often explain exactly how the trade signals they generate are produced. Typically, these systems only show their track record of extraordinary results - historical results. Successfully predicting future trade scenarios is altogether more complex. The high-speed algorithmic capabilities of these systems provide significant retrospective trading systems, not ones which will help you trade effectively in the future.
   

8. Get to know one cross at a time - Each currency pair is unique, and has a unique way of moving in the marketplace. The forces which cause the pair to move up and down are individual to each cross, so study them and learn from your experience and apply your learning to one cross at a time.
9. Risk Reward - If you put a 20 point stop and a 50 point profit your chances of winning are probably about 1-3 against you. In fact, given the spread you're trading on, it's more likely to be 1-4. Play the odds the market gives you.
   

10. Trading for Wrong Reasons - Don't trade if you are bored, unsure or reacting on a whim. The reason that you are bored in the first place is probably because there is no trade to make in the first place. If you are unsure, it's probably because you can't see the trade to make, so don't make one.
    

11. Zen Trading- Even when you have taken a position in the markets, you should try and think as you would if you hadn't taken one. This level of detachment is essential if you want to retain your clarity of mind and avoid succumbing to emotional impulses and therefore increasing the likelihood of incurring losses. To achieve this, you need to cultivate a calm and relaxed outlook. Trade in brief periods of no more than a few hours at a time and accept that once the trade has been made, it's out of your hands.
    

12. Determination - Once you have decided to place a trade, stick to it and let it run its course. This means that if your stop loss is close to being triggered, let it trigger. If you move your stop midway through a trade's life, you are more than likely to suffer worse moves against you. Your determination must be show itself when you acknowledge that you got it wrong, so get out.
    

13. Short-term Moving Average Crossovers - This is one of the most dangerous trade scenarios for non professional traders. When the short-term moving average crosses the longer-term moving average it only means that the average price in the short run is equal to the average price in the longer run. This is neither a bullish nor bearish indication, so don't fall into the trap of believing it is one.
    

14. Stochastic - Another dangerous scenario. When it first signals an exhausted condition that's when the big spike in the "exhausted" currency cross tends to occur. My advice is to buy on the first sign of an overbought cross and then sell on the first sign of an oversold one. This approach means that you'll be with the trend and have successfully identified a positive move that still has some way to go. So if percentage K and percentage D are both crossing 80, then buy! (This is the same on sell side, where you sell at 20).
    

15. One cross is all that counts - EURUSD seems to be trading higher, so you buy GBPUSD because it appears not to have moved yet. This is dangerous. Focus on one cross at a time - if EURUSD looks good to you, then just buy EURUSD.
    

16. Wrong Broker - A lot of FOREX brokers are in business only to make money from yours. Read forums, blogs and chats around the net to get an unbiased opinion before you choose your broker.
    
17. Too bullish - Trading statistics show that 90% of most traders will fail at some point. Being too bullish about your trading aptitude can be fatal to your long-term success. You can always learn more about trading the markets, even if you are currently successful in your trades. Stay modest, and keep your eyes open for new ideas and bad habits you might be falling in to.
    

18. Interpret forex news yourself - Learn to read the source documents of forex news and events - don't rely on the interpretations of news media or others.
    

Posted by Orce Dimitrov at 2:48 AM | Permalink | Comments

By Stephen Todd

If you want to make big profits, then you should know that the best way is do it for yourself - and not rely on others.

Any trader (even a novice) can build a successful FOREX trading system - and this article shows you how to build a profitable system in five simple steps.

What Makes a Successful FOREX Trading System?

Successful trading systems have three main characteristics:

1. They are Simple

Forget complicated systems with lots of rules - it’s a proven fact that simple systems work better - and are less likely to fail, in the brutal world of trading.

2. They Run Profits and Cut Losses

You need to have a longer term FOREX trading system that milks the big trends for profit, and cuts losses quickly.

3. They Follow Long Term Trends

There is no point in trading for small profits - i.e. day trading, as you will never cover your inevitable loses with small profits.

Focus on long-term trends - it’s these that yield the big profits, as they can last for years.

Now let’s get down to the five steps of building a FOREX Trading System:

1. Your Method

We have said to keep it simple, and this is exactly what you should do - just a few rules, and a robust money management system.

2. Spotting Opportunities

Look for the long-term weekly trends, and then move to daily charts to time entry. When we say long-term trends, we mean months, or years - NOT just a week or two.

3. The Best Way to Trade Currencies is via a Breakout Method.

Breakouts occur in all currency markets all the time - so base your system on a trend following breakout system.

There isn’t space here to describe exactly what a breakout system is, but we have articles on breakouts posted on our web site.

It’s a fact that most of the world’s billionaire traders use breakout systems in their trading - and you should use a breakout system as well.

4. Timing Entry

The best way to time an entry is to watch for a break on the chart, confirmed by stochastics crossing with bullish or bearish divergence – this is a great timing tool.

When you are in strongly trending markets, you can also use Bollinger bands, to time your entries - and take profits.

The Bollinger band is a great filter indicator, and all traders should consider it.

5. Money Management

If you are following a breakout method, either the trade runs quickly in your favor - or the break is “false” and quickly reverses.

Don’t put your stop just below the breakout point! - If the trade does not follow through within the day, exit the market, and use a monetary stop in the day session.

A Simple F0REX Trading System for Profit

With the above system, you will focus on the longer-term trends - and milk them for maximum profit.

You will also not trade frequently, and you will liquidate losers quickly.

We don’t have space here to go through how to use the indicators, but with a bit of research and testing you will see why a FOREX trading system built on the above principles, will work, and will continue to work.

The system will give you a lot more profit than the so called predictive, over hyped complicated systems, sold by vendors and guru’s – these systems only work in back testing.

Build yourself a FOREX trading system - and see for yourself, just how profitable they can be!

New! A valuable FREE Currency Trader CD containing 9 critical trading reports, tips, strategies and currency trading info. Visit our web site now and grab your CD http://www.tradercurrencies.com

Article Source: http://EzineArticles.com/?expert=Stephen_Todd

Posted by Orce Dimitrov at 8:08 AM | Permalink | Comments