Trading Forex with Pivot Points

Pivot Points are used in Forex Trading by Forex Traders and are calculated on the previous days move and trades are entered when the market hits a support or resistance line of the pivot point providing your OB/OS indicator is in agreement. All the support and resist lines are put in place 1st thing in the morning. then you wait for the market to hit those entry Points.

Contrary to what some might believe, Trading Forex online with Pivot Points are probably the most popular method used in trading the financial markets today. Long before the invention of computers this was the method used by the traders in the pits to determine hidden support and resistance levels.

The Pivot Point is still used by experienced floor traders and technical analysts alike. The major advantage now is that we now have computers and can calculate our points well in advance. Many charting packages can calculate them for you automatically, thus enhancing the use of Pivot Points.
Whilst there is a lot more to Pivot Point Trading in Forex Trading than we will be mentioned in this article, the purpose of this exercise is to introduce you to the concept of trading Forex with Pivot Points.

Remember the market can only go up, down, or sideways. It is like an elastic band that has been stretched, sooner or later it will rebound to an equilibrium point where the market is in balance, and then stretch the opposite way only to rebound and reach another balance point. Then some fundamental announcement or happening will drive the market in a new direction and so on day after day. Pivot Points can aid us in determining how far that elastic can stretch before it rebounds.

Whilst there are many time frames that can be used for calculating Pivots, for the purpose of this exercise lets concentrate on the daily time frame (i.e.: 24hr) Pivot Points are calculated using the previous days, Open, High, Low, and Close figures. There are many Pivot Point calculators available on the web so you don’t have to waste your time doing the calculations manually. Also bear in mind the longer the time frame you are using the longer you must be prepared to stay in the market or wait for the next entry point.

Pivot points unlike many other indicators are an objective tool. Because they are mathematically calculated, there can only be one answer for a specific time period.
Many subjective indicators like Fibonacci retracements, (and I am a great fib fan) Elliot waves etc. can have different people trading in different directions at the same time due to individual interpretation..

The PP’s can help you to predict the next day’s highs and lows in advance. PP’s can give you anything from 4 to 8 support and resistance levels. However you still have to be able to identify the trend to be a successful PP trader. Pivot Points also work best in a trending market.
Entry and exit points Pivot Points can give you exact entry and exit points, rather than enter markets that are in the middle of a run, or about to turn the other way. Here is where we use other indicators to assist on the entry or exit.

If the market stalls at a Pivot Point level, and you have an overbought or oversold indicator that will be a good time to get in or out. Or if a Fibonacci level coincides with a Pivot Point level it can make a strong case to enter or exit a trade. If the market is bullish and your favourite indicator is not near overbought, when it hits the first resistance level then you probably have a good case to stay in the market and make your profit target the next Pivot Point resistance line. The breakout above the 1st resistance level can then become your new stop or stop reverse.
Obviously the reverse is true of the support level as well. By combining the Pivot Points with your favourite indicator you can develop your own trading system that no one else uses.
Trading for the day will probably remain between the 1st support (S1) and resistance (R1) levels as the floor traders make their markets. Once one of these levels is penetrated other traders will be attracted to the market, and should the second level be breached, the longer term traders are attracted to the market.

Knowledge of where the floor traders are expecting support or resistance can be a distinct advantage especially when there is no outside influence in the market. Provided no significant market news has occurred between yesterdays close and today’s opening, the local floor traders and market makers tend to move the market between the Pivot Point (P) and the first support line (S1) and resistance (R1) If one of these levels is breached then expect the market to test the next levels (S2) and ( S3) or (R2) and (R3)

Whilst there are many other aspects to Forex Pivot Point trading why not try this simple method first and see if you can develop your own strategy by using your existing trading technique’s in conjunction with the Pivot Points.
* This is an old one, but very important: Put quotes around phrases that must be searched together. If you put quotes around "electric curtains," Google won't waste your time finding one set of Web pages containing the word "electric" and another set containing the word "curtains."

* S imilarly, put a hyphen right before any word you want screened out. If you're looking up dolphins, for example, you'll have to wade through a million Miami Dolphins pages unless you search for "dolphins - Miami."

* Google is a package tracker. Type a FedEx or UPS package number (just the digits); when you click Search, Google offers a link to its tracking information.

* Google is a calculator. Type in an equation ("32+2345*3-234=").

* Google is a units-of-measurement converter. Type "teaspoons in a gallon," for example, or "centimeters in a foot."

* Google is a stock ticker. Type in AAPL or MSFT, for example, to see a link to the current Apple or Microsoft stock price, graphs, financial news and so on.

* Google is an atlas. Type in an area code, like 212, to see a Mapquest map of the area.

* Google is an aviation buff. Type in a flight number like "United 22" for a link to a map of that flight's progress in the air. Or type in the tail number you see on an airplane for the full registration form for that plane.

* Google is the Department of Motor Vehicles. Type in a VIN (vehicle identification number, which is etched onto a plate, usually on the door frame, of every car), like "JH4NA1157MT001832," to find out the car's year, make and model.

* For hours of rainy-day entertainment, visit http://labs.google.com . Here, you'll find links to new, half-finished Google experiments-like Google Voice, in which you call (650) 623-6706, speak the words you want to search for and then open your browser to view the results. Disclaimer: It wasn't working when I tried it. (Ditto a lot of these experiments.)

Evaluating the Forex Market

Hello Forex Nation!

I recently wrote an article for EzineArticles.com about Evaluating the Forex Market. Check it out and it is free to include as content on your site or blog as well.

http://www.ezinearticles.com/?Evaluating-the-Forex-Market&id=180987

Happy Trading!

Trading Off Consensus Expectations: Does It Work?

Great article for all you Elliott Wave fans. This article focuses on the analysis of the economic data released this week!

Trading Off Consensus Expectations: Does It Work? Forex Focus Elliott Wave International

I have traded EW in my options trading for years and I have come to enjoy it as well in my forex market evaluations.

If you want to read more about forex education just visit FX Trade Central.

Happy Trading!
If you're like most traders, you've probably noticed some patterns in your forex trading activities. These are situations that show up time and again under different circumstances. The end result usually remains the same. In and of themselves, such patterns aren't necessarily good or bad.

Your trading patterns can be the source of satisfaction in your trading performance or tremendous frustration in your inability to trade consitently, forex profit or loss. In fact, it's quite likely that you have both positive and negative patterns in your trading right now.

Let me share some of mine with you. I have very good trading preparation habits. I go through a routine like a golfer before every shot. This pattern has resulting in excellent entry and trade management practices.


Let me tell you about the dark side. I also have a habit of trying to measure myself against other traders. Mistake! Competition can kill your trading account.

I am working on correcting this habit in my trading, but I also recognize that in other entrepreneurial activities this is an asset.The root of most patterns lies in one’s individual belief system. These are translated into your personal expectation of what you can and cannot achieve.

Confidence also plays into the equation. If you believe that you cannot trade the forex market you will turn to internalize all losing trades and find yourself unable to pull the trigger on the trade. You will allow entry point after entry point pass.

Your account will not reflect your true talent; you get frustrated and join the chorus of all those people preaching the risky nature of forex!

Let’s look at some specific steps you can take to create new trading patterns that will improve your overall currency trading experience.


1. Note Your Current Trading Patterns – Keep a detailed record in your trading journal to document your patterns, both good and bad. Your trading journal shoul dnot oly contain the technicals. but any environmental factors that could impact your trading.

2. Stop Blaming – Learn to take personal responsibility for actions, treat the negatives as a lessoned learned and move on! There is no such thing as failure only feedback!

3. Visualize Your Desired Pattern – Act as if you are the best forex trader in the world! I see myself being calm and cool when discussing trades with my fellow forex traders.

4. Watch the Words You Use. They Define You! – My list of Forbidden Words.

Try (I will Do or I will not do.)
Can’t (I even took it out of my spell check dictionary!!!)
But (It is an “And” world!)
Hope (I replace with “know”)
Problem (I replace with “Challenge’)
If (I replace with “when”)
Why (I replace with “what” or “how”)

5. Put Some Distance Between Yourself and from Your Old Habits – They say you are the sum of the 5 people closet to you. If you want to be a successful forex trader then start hanging out with successful forex traders. If you don’t know any, then create a local forex trading club.


This is why I am a champion of FX Trainer Financial Services Inc. forex education methodology. Their goal is to create that community of successful forex traders!

6. Take Supportive Action – The key word is to take action! My dog (I have a beautiful Vizsla) developed a jumping problem when he greeted people. To address this undesirable pattern I replaced it with another command – sit! Then I give him a treat.


Once I recognize a pattern, deploy a strategy to change the pattern and succeed I am sure to reward myself with a round of golf. That’s my liver treat!

Remember that awareness, personal responsibility and action will be the key to identifying and developing sound forex trading practices!

FX Trade Central has identified personal self-mastery has a key destination in your forex education roadmap.

For more information on forex education visit FXTC’s course listing.

Happy Trading!

Euro vs. Dollar: The Irony of It All

As you know I use Elliott Wave analysis for my swing trade setups. Here is an intersting article describing where Elliott Wave can aid you in your forex market evaluation.

Euro vs. Dollar: The Irony of It All Forex Focus Elliott Wave International

FXTC has more information on Elliot Wave and other forex education topics.


Happy Trading!
Apa yang akan kita butuhkan ketika pertama kali hendak memasuki sebuah investasi yang kita kenal hanya namanya saja? Tentu saja mengetahui lebih lanjut, investasi apakah itu sebenarnya. Begitu juga apabila kita adalah orang baru dalam dunia forex trading. Mungkin kita sudah mendengar nama forex online trading selama beberapa tahun dan mengetahui beberapa orang yang memperoleh kesuksesan finansial melaluinya. Tapi kita tidak mengetahui persis apa itu Forex Online Trading.

Artikel ini ditujukan untuk mereka yang berada diposisi demikian. Tanpa mengetahui apakah itu forex online trading, tidak mungkin kita dapat memperoleh kesuksesan disana. Jangankan kesuksesan, berani pun tidak. Mana mungkin kita mau menaruh dana kita pada sebuah instrumen investasi yang tidak kita kenal?

Bab ini kita akan membantu kita mempelajari forex trading secara mendasar sekali. Bagian ini ditujukan bagi mereka yang masih newbie dengan dunia forex. Bagi Anda yang sudah mengetahui forex trading, Anda dipersilakan melewati bagian ini.

Ok, Anda masih disini. Kalau begitu mari kita mulai. Jika ada yang menanyakan pada saya apa itu forex trading maka jawabannya bisa jadi sangat bervariasi. Tapi saya menyukai definisi sederhana ini : forex trading (biasa disebut perdagangan valas, valuta asing, atau disingkat fx trading) adalah instrumen investasi berupa perdagangan valuta asing yang berpasang-pasangan.

Jadi, keuntungan yang saya peroleh adalah dari nilai selisih mata uang yang saya beli atau jual. Contohnya sederhananya : Pada bulan lalu Amir membeli US Dollar sebanyak $1000 dengan kurs beli Rp.8500,- Lalu bulan ini nilai tukar USD menguat menjadi Rp 9500,- per Dollarnya. Maka apabila Amir menjual Dollarnya pada bulan ini maka dia memperoleh keuntungan sebesar (9500 – 8500) x 1000 = Rp. 1.000.000,- Mudah bukan?

Forex trading diperdagangkan dalam pasangan-pasangan mata uang yang biasa disebut pairs. Contohnya USD/JPY yang artinya pasangan nilai tukar antara US Dollar dan Yen Jepang. O ya, sebelum saya lupa, akan ada beberapa istilah atau singkatan yang akan kita temui di dunia forex. kita harus mengetahuinya, tapi jangan khawatir, saya sudah menyiapkan kamus istilah di page lainnya.

Diantara instrumen investasi di lantai bursa, forex trading adalah instrumen yang paling besar kapitalnya. Besarnya sekitar US$ 2 triliun ( ingat, dalam Dollar AS) Itu sekitar 46 kali lebih besar dibanding pasar bursa komoditi berjangka (spt karet, kopi, emas, dll) lainnya. Atau ribuan kali lebih besar dari total transaksi di Bursa Efek Jakarta!! Dengan kapitalisasi sebesar itu, maka forex trading dikenal sebagai pasar paling likuid dan bebas di dunia.

Hanya 5% dari dana diatas yang merupakan dana pemerintah yang sifatnya rutin. 95% lainnya milik para investor bebas dari berbagai dunia. Benar-benar pasar terbesar dan sangat majemuk. Kelebihan lainnya adalah forex trading adalah instrumen investasi yang aktif 24 jam sehari dan 6 hari seminggu. Dimulai dari pasar Eropa, Amerika, Asia dan Australia. Jadi tidak seperti Bursa Efek Jakarta yang hanya dapat bertransaksi di siang hari, pada forex trading (khususnya pada online forex trading) kita dapat bertransaksi hampir kapan saja dan dimana saja.

Tidak semua mata uang dapat diperdagangkan disini. Hanya beberapa mata uang negara maju yang biasa dipergunakan yaitu USD (US Dollar), JPY (Yen Jepang), GBP (Poundsterling Inggris), EUR (Euro), CHF (Swiss Franc), dan AUD (Australian Dollar). Jadi apabila kita berinvestasi di pasar forex trading, maka kita tidak akan menemukan pairs berupa IDR (Indonesian Rupiah) dengan USD. Yang ada adalah pasangan-pasangan mata uang yang saya sebutkan sebelumnya EUR/USD, USD/JPY, CHF/USD dsb.

WHAT IS FOREX

The Foreign Exchange, also referred to as the "Forex" or "Spot FX" market, is the largest financial market in the world, with over $1.2 trillion changing hands every single day. If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you see how giant the Foreign Exchange really is. In fact it is three times larger than all of the US Equity and Treasury markets combined!

What is traded on the Foreign Exchange? The answer is money. Forex trading is where the currency of one nation is traded for that of another. Therefore, Forex trading is always traded in pairs. The most commonly traded currency pairs are traded against the US Dollar (USD). They are called ‘the Majors'. The major currency pairs are the Euro Dollar (EUR/USD); the British Pound
(GBP/USD); the Japanese Yen (USD/JPY); and the Swiss Franc (USD/CHF). The notable ‘commodity’ currency pairs that trade are the Canadian Dollar (USD/CAD) and the Australian Dollar AUD/USD. Because there is not a central exchange for the Forex market, these pairs and their crosses are traded over the telephone and online through a global network of banks, multinational
corporations, importers and exporters, brokers and currency traders.


Traditionally, currency trading has been a 'professionals only' market available exclusively to banks and large institutions, however, because of the rise of the new E-economy, online Forex trading firms are now able to offer trading accounts to 'retail' traders like you and I. Now almost anyone with a computer and an Internet connection can trade currencies just like the world's largest banks do. There are now over 6 million trading accounts worldwide up from 1.7 million in 1997.


BENEFITS OF FOREX TRADING


There are many benefits and advantages to trading Forex. Here are just a few reasons why so many people are choosing this market as a

business opportunity:


1.LEVERAGE: In Forex trading, a small margin deposit can control a much larger total contract value. Leverage gives the trader the ability to make extraordinary profits and at the same time keep risk capital to a minimum. Some Forex firms offer 200 to 1 leverage, which means that a $50 dollar margin deposit would enable a trader to buy or sell $10,000 worth of currencies. Similarly, with $500 dollars, one could trade with $100,000 dollars and so on.


2.LIQUIDITY: Because the Forex Market is so large, it is also extremely liquid. This means that with a click of a mouse you can instantaneously buy and sell at will. You are never 'stuck' in a trade. You can even set the online trading platform to automatically close your position at your desired profit level (limit order), and/or close a trade if a trade is going against you (stop order).


3.PROFIT IN BOTH 'RISING' AND 'FALLING' MARKETS: On the stock markets, you can only make money if shares are rising, but in economic recession and falling 'bear' markets, there is little chance of making big money. Forex is different. One of the most exciting advantages of FX trading is the ability to generate profits whether a currency pair is 'up' or 'down'. A trader can profit by taking a 'long' position, (buying the currency pair at one price and selling it later at a higher price), or a 'short' position, (selling the currency pair and buying it back at a lower price). For example, if you think the US dollar will increase in value vs. the Japanese Yen then you will buy Dollars and sell Yen (go long). If you think the Yen will increase in value against the Dollar then you will sell Dollars and buy yen (go short). As long as the trader picks the right direction, a potential for profit always exists.


4. 24HRS: From Sunday evening to Friday Afternoon EST the Forex market never sleeps. This is very desirable for those who want to trade on a part-time basis, because you can choose when you want to trade--morning, noon or night.


5. FREE 'DEMO' ACCOUNTS, NEWS, CHARTS AND ANALYSIS:
Most Online Forex firms offer free 'Demo' accounts to practice trading, along with breaking Forex news and charting services. These are very valuable resources for traders who would like to hone their trading skills with 'virtual' money before opening a live trading account.


6.'MINI' TRADING: One might think that getting started as a currency trader would cost a lot of money. The fact is, it doesn't. Online Forex Firms now offer 'mini' trading accounts with a minimum account deposit of only $200-$500 with no commission trading. This makes Forex much more accessible to the average individual, without large, start-up capital.


The Day Trade Forex System

Foundations


Before we begin looking at the specifics of the FPS and how it works, let’s look at 4 building blocks that I believe to be foundations to the Forex Profit System.


Foundation #1: Currency Trading is not a Get-Rich- Quick Scheme.


Currency trading is a SKILL that takes TIME to learn. Skilled Traders can and do make money in this field, however like any other occupation or career, success doesn’t just happen overnight. Here is a great ‘formula’ for success:


Practice + Patience + Persistence = Profits


As they say, there is no substitute for hard work and diligence. Practice trading on a demo account and pretend the virtual money is your own real money. Do not open a live trading account until you are profitable trading on a demo account. Stick to the plan and you can be successful.

Foundation #2: I highly recommend that you follow 1 or maybe 2 major currency pairs.


It gets far too complicated to keep tabs on all four. I also recommend that traders choose one of the majors because the spread is the best and they are the most liquid. The Euro/USD is the most commonly traded pair and usually has the best ‘spread’ because of its liquidity. The USD/Swiss Franc is usually the most volatile and moves the most during the trading week. The USD/Yen moves a lot on the news out of Japan and normally the Pound Sterling/USD is more stable in it’s moves than the other three.

Foundation #3: Follow and understand the daily Forex News and Analysis of the professional currency analysts.


Even though this system is based solely on technical analysis of charts, it is important to get a birds-eye view of the currency markets and the news that affects the prices. It is also important that you know and understand what the key technical ‘support’ and ‘resistance’ levels are in the currency pair that you want to trade. Support is a predicted level to buy (where currency pair should move up on the charts), resistance is a predicted level to sell (where the currency pair should move down on the charts).

Fortunately, all the best Forex news and analysis is offered free on the Internet. Here is what you should do first:


*While you are reading the daily news and technical analysis, write down on a piece of paper what direction the analysts are saying about the major currency pair you are following and the key support and resistance levels for the day.


A. Go to www.forexnews.com and you will find 24hr news and analysis on the spot FX markets. The site will give you the big picture of how the economic calendar and central banks affect the currency markets. A great resource.

B. Then go to www.fxstreet.com and click on the ‘Top Forex Reports’. Here there is a wonderful listing of all the major daily currency

analysis and forecasts with support and resistance and direction forecasts.


C. Click on www.currencypro.com and go to ‘Today’s Market Research’ and there you will find more excellent analysis on the Major Currency pairs. Another great Forex Portal.


Foundation #4: Learn how to use the technical indicators in this course and always trade with stop losses!


It is worth your time to be patient and learn how to use the technical indicators on the charts that you will be reading about shortly. It is important when you are trading Forex, to be disciplined and to stick to a plan. Don’t just trade your ‘gut’ feeling. Use the technical indicators outlined and always enter in stop losses on every trade. Remember that everyone who trades has a different tolerance for losses. Depending on your risk capital, and strategy, set your stop losses accordingly.

Special Forex Education Reports

Special Forex Education Reports

I have just completed 2 special reports that are now available on my website. A lot of you readers seem to enjoy when I am ranting and raving about the global economy and how it relates to forex and trading.

Well I have taken those topics and created 2 FREE editorials.

Special Report #1: The Perfect Economic Storm
About the coming change to the global economy and steps we can take today to be prepared to not only survive, but to prosper!

Special Report #2: Forex and Your Retirement
Discusses why you should consider honing your forex education skills now and deploy FX trading to expand your portfolio well beyond your retirement date.

Just follow the link to FX Trade Central and sign up for ourand you will be included in the mailing for these revealing reports!

Happy Trading!

Free Food Tomorrow

Let’s take a look at your trading self-esteem.

Have you ever found yourself on the wrong end of a series of losing trades? Have you thought about or journal how you felt as you were ready to execute that next trade?

Next time this occurs, write down those negative thoughts in your forex trade journal. Currency trading (and any trading for that matter) is 90% mental and we should explore and embrace this side along with our pips and moving averages.

When we have a string of losing trades our trading self-esteem tends to take a real hit. The successful forex traders learn from their mistakes and move on.

Just look at a Hall of Fame baseball player. Most of the hitters in the baseball Hall of Fame are described as having a slightly greater than .300 batting average. That means that they are successful in getting a base hit 3 out of 10 times.

THAT’S A 30% SUCCESS RATE!!!

They failed to get on base 7 out of 10 times! Yet, they are considered the best in their profession.

Forex trading is similar to baseball. Even though the Hall of Fame baseball player fails 70% of the time, the player has a belief that success is waiting for them at ever at bat.

They study the pitchers and evaluate every situation when they are at bat to maximize the probability for success.

When they succeed, they celebrate!

We as forex traders must learn to carry this same approach to our trading. We cannot treat our trading experiences like a sign hanging in the window of a restaurant saying “Free Food Tomorrow.”

When we come back the next day for our free meal the same sign is hanging in the window. Well, we will never receive that free meal. You will never feel satisfied.

You must learn self-satisfaction. You must become your own cheerleader. You must learn to celebrate your success, even if it is a losing trade! Take the positive aspects and expand them, because what we focus on expands!

Just like the baseball player we study the forex market, evaluate the trade and execute the trade with a belief of a successful outcome every time. Do we always succeed? No! But we know we can also be successful and profitable losing a high percentage of the time.

Trade and money management rules allow us to prosper.

The other day I was patently waiting for a trade set up with the USD/CAD. I waiting and the trade triggered. I had it planned and entered on the correct candle pattern, with the correct lot size and the correct stops.

Just before my plan said to tighten my stops the pair reversed and stopped me out at my predetermined exit.

I was happy! Why?

There is a big difference between a bad trade and a losing trade. I did everything correct according to my plan and the trade did not go my way.

I celebrated by giving myself a high five and began looking for the next trade. The law of averages will eventually work in my favor just like the baseball player.

Just like my freshman year in college when I was competing for a spot on the baseball team. I was really practicing well and had an assistant coach in my corner.

He convinced the manager to give me a chance in the next game. I got my chance and went 0 for 4 at the plate. I had a 0% success rate, but that did not tell the whole story. I hit 4 solid line drives that the other team caught for outs.

The next game I went 4 for 5 with 4 RBI’s because I had the belief that I was doing everything correct.

For those of you who are struggling to manage your losses try this.

Conduct a review of your trading journal and write on a 3X5 index card all those mistakes you have made in the past that you feel are creeping into your current trading decisions. Have this card next to you when evaluating your next trade.

I bet you that those mistakes and negative thoughts that are holding you back today will soon vanish and you will be trading in the correct frame of mind.

Embrace your mistakes and don’t beat yourself up! No more “I am not good enough to make money in forex” thinking.

Anything fully experienced will soon vanish!

Check out FX Trade Central for more exploration of trading psychology.

Happy Trading!

Over Trading the Forex Market

One of the "forex deadly sins" we must all be aware of is overtrading. Overtrading can afflict the seasoned currency trader, as well as the "newbie" trader fresh from their first forex education course. We are all guiltyof this sin at sometime in our forex trading career.

In addition to trading the forex market I also have a passion for playing golf. It seems that I continuously work through the same 4 mistakes, so much that I have long since been able to recognize by my ball flight which of these mistakes is creeping up on me again and apply a tested remedy.

I have taken this approach to my forex trading. One of my forex affliction is that I tend to overtrade the market.

To combat this need to be in the market all the time I have developed 2 key strategies:

#1 Take a break from trading when I had a big win or loss.

#2. Set rules for evaluating the market and entering trades.

Here is a sampling of my forex market evaluation rules:

Look at the current price behavior. Determine if the market is oversold or overbought.

Access overall forex market conditions. Look at long term and short term views. Is the market trending or range bound? Is the market trending short term within a long term range.

Determine where your currency price target is located for the respective ranges and time frames.

Determine your criterial for stopping the forex trade on both the profit and loss side.

Determine how much capital your are going to risk.


I have found that one of the most valuable tools is to be a member of a local trading group. This allows you to verbalize your trading actions and will confirm your trading decisions.

If you are evaluating currency trades alone then talk it though out loud.

Yeah, you may sound like a nut to those around you, but you will be a more profitable nut none the less!

For more insight into forex education and trading visit FX Trade Central.

Happy Trading!

Failure is NOT an Option

I heard an amazing stat the other day…

90% of novice Forex traders fail!

That means that my chosen pursuit has a 10% success rate!

Wow! This was like a punch in the gut. I long suspected a high failure rate, but not THAT high! For those that know me, statistics like these get me thinking and asking that proverbial question … why?

It has got to be the common thread of success I see across the entrepreneurial world … education! I also surmise that people here about the opportunities in the forex market and get pretty excited.

After all those advantages are the reason I chose forex as one of my wealth vehicles!

Without forex knowledge the uneducated get seduced by greed, eventually are overrun by fear and destined to exit the forex trading all together with their tails between their legs.

By the way, these are the same people that will preach the risk of forex trading from the roof top and spout out about what a rip off the entire forex trading industry is for investors.

That is why I focus on forex education and personal self-mastery (discipline)!

The cornerstone of my website and FX newsletter is our Roadmap to Successful Forex Trading which places premium value on forex education and trading discipline. Visit FX Trade Central to learn more.

Happy Trading!

The Complete Forex Trader

If you have been reading my posting you have recognized that I am an active forex trader, but my posting do not center too much on forex strategy and the like. This is true. Those blogs and sites are a dime a dozen. I like writing about those topics that have made me a well rounded trader. I like to explore topics like critical thinking, forex education and mental focus. These are the intangibles, the little things that can make or break success.

Focusing on the forex educational roadmap will bring together all the aspects of successful forex trading. This approach can be adapted to equity trading, real estate investment and pretty much any entrepreneurial activity you would like to take on!

Also, take a look at my required reading list. These books have been carefully selected to address all of the elements of the forex education roadmap. They are a mixture of classics and new material. FX Trade Central and FX Trainer are your portals to successful currency trading!

Continuous education is the cornerstone of any endeavor!

Keep the comments coming!

Happy Trading!

交易平台

简单, 灵活, 敏捷
Windows版的外汇交易平台是为客户量体定身设计的. 具有简单, 灵活, 功能先进和齐全的特征. 交易软件只有 0.4 MB 大小. 所有的窗口都可以移动, 客户可以随心所欲的自定外汇交易平台的版面.

先进, 功能齐全
客户可以在先进, 功能齐全的外汇交易平台上做外汇交易. 客户可以从使用过程中发觉交易平台不仅仅是买卖外汇的工具, 而且是走向成功的一个必要工具.

完全综合化
交易平台综合了即时外汇价格, 外汇图表, 外汇新闻, 交易信号, 和更多外汇交易工具.

 


客户能直接在外汇交易图表上执行交易. 即时单据跟踪功能自动在外汇交易图表上显示您所做的所有单据. 技术指标根据和客户参数指定而自动即时更改. 保存您设置的外汇交易图表.



直接在外汇交易图表上交易
客户能够直接在外汇交易图表上交易外汇. 您可以根据技术指数和您的交易策略直接在外汇图表上交易.

即时单据跟踪功能

即时单据跟踪功能自动在外汇交易图表上显示您所做的所有单据. 即时单据跟踪功能和技术指数和用给您的外汇技术分析带来了极大的方便.

技术指数和参数共同化

和其他外汇交易图表不同的是, 客户可以看见技术指数根据客户指定的参数的改变而作即时变化.

保存外汇交易图表设置

保存您所设置的外汇交易图表. 下一次您开启交易平台时, 您可以选择所保存的外汇交易图表.
进入 自动交易 模式
21世纪的投资者是繁忙的投资者. 想象您的交易系统自动根据您设置的条件自动执行交易. 一旦条件满足, 交易系统自动处理您的交易, 无需投资者的人工键入单据. 这正式交易平台的先进的自动交易模式.

自动交易 模式功能


  • 客户自定交易策略
  • 只需一键进入 自动交易 模式
  • 无需看者电脑屏幕
  • 在电脑开启或关闭的时候, 自动交易都可以执行
  • 系统自动阅读重要市场信息
  • 免费提供给我们客户使用, 无附加费用

自动交易 优势


自动交易 模式启动以后, 交易平台自动跟踪市场价格. 当您设定的交易策略的条件满足的话, 系统自动给你交易单据. 由于系统已经知道您先设置的交易策略并且自动执行单据, 您不需要人工键入交易单. 在电脑开或关的时候, 自动交易都可以自动执行. 客户可以设置在电脑开或关的时候 自动交易. 这意味者不管在电脑开或关的时候,您永远不会错过任何一个可以赢利的机会.
 

点这里下载交易平台


注册很简单,只需三步填写,其它的步骤都是扩展的说明.

1、点击“Open an Account 注册账户”按钮,就会弹出英文页面。


2、在这页面需要填写注册信息,如下图所示(有中文注解的就是必填项,否则不用填。)以下为填写说明图片:



3、在此页面需要填写一些选项信息,如下图所示(有中文注解的就是必填项,否则不用填。):


4、在此页面需要对协议进行同意确认,找到页面最下面点√,如图:


5、注册完成的页面,等待几秒种会跳转到一个客户端下载页面,你可以下载客户端:


6、最后你的注册邮箱会收到一封主题为Account Successfully Created 的邮件,说明你的账号已经注册成功了.里边的内容及操作说明如图所示:


7、好了,现在就可以打开客户端,开始你的外汇交易生涯!

注意事项

1.注册的时候使用英文或拼音注册.请勿用中文字符

2.注册的时候一定要填写真实的资料,如果地址经常变动也没关系,可以写身份证上的地址,因为认证的时候上传身份证扫描件就可以认证通过,另外认证这些资料是可以修改的.

3.不要在同一台电脑上注册多个账号(同一个IP不能注册多个账号).

4.如果有多个账号,一定要注册后认证,否则容易被封号.

5.如果确实需要在同一电脑上注册多个账号(如家人有不同账号),就改变本机的外网IP地址注册,注册完后立刻认证,否则会被查出一机注册多用户而被封号).


外汇交易
外汇交易是同时买入一对货币组合中的一种货币而卖出另外一种货币. 外汇是以货币对形式交易. 外汇交易市场是全世界最大的金融市场, 每天的成交量超过1.4兆亿美元, 是美国股票和债券市场总和的三倍以上.

与其它金融市场不同,外汇市场并没有具体地点, 也没有中心交易所, 而是透过银行, 企业和个人之间的电子网络,展开货币交易.

由于没有具体的交易所, 外汇市场能够二十四小时不断运作, 横跨主要金融中心的各个地区.

传统上, 投资人进入外汇市场的唯一途径,是透过进行大量商业和投资性货币交易的银行. 久而久之,交易量开始迅速增长, 特别在 1971年起允许汇率自由浮动后, 交易量更进一步扩大.

提供给您的优势
免佣金, 免手续费
免费价值5美元的真实帐户
极小的 3-4 点差价
完全交易自动化, 无人工处理
1% 的保证金
不收取隔夜利息
外汇交易价格保证
外汇交易点差保证
灵活合约量
自动交易 外汇市场
简单先进的外汇交易平台
直接在外汇图表上交易
24小时交易

保证金介绍

保证金交易意味者从交易商方借入资金来增加自己的购买能力. 从而外汇投资者可以交易可观的合约量. 不管帐户的大小, 客户都可以享受 1% 的保证金. 保证金交易可以使您取得巨大的投资汇报, 但是也可以使您的损失倍增.

例子


帐户资金: $2,000
杠杆系数: 100:1 (1%)
合约量: 100,000 units
您的交易: 买入 1 单的EUR/USD, 欧元/美元
开仓价位: EUR/USD 1.2100
平仓价位: EUR/USD 1.2130
赢利=(1.2130-1.2100)x100,000=$300

Note


保证金交易能倍增您的投资汇报和损失. 选择高于 100:1 的杠杆系数, 或者小于 1% 的保证金大大的增加了您在外汇市场中的风险. 所以我们强烈建议我们的客户慎重正确的使用杠杆交易方式, 并且联合风险管理工具和风险管理策略.

1% 的保证金

传统标准帐户
客户可以选择 100,000 每单和 100:1 的杠杆系数 (1% 的保证金).

传统迷你帐户


传统迷你帐户允许客户专心发展外汇交易策略, 和掌握真实帐户的交易心态而无需过分忧虑交易产生的巨大赢利和损失.

灵活合约量


我们的客户可以在交易窗口自定所要交易的合约量. 最小合约量为1美元.

免费帐户申请, 开户赠金


只需要1美元就可以交易真实帐户. 免费开设帐户后, 您将得到一个价值5美元的真实帐户.

外汇交易历史

布雷顿森林协定
1967年, 一家芝加哥银行拒绝向一位名为米尔顿. 富莱曼的大学教授提供英镑贷款, 因为他意图利用这笔资金来卖空英镑. 富莱曼先生察觉到英镑对美元的比价过高, 想先出售英镑, 然后等英镑下跌后, 再买回英镑来偿还银行, 从而能够迅速大捞一笔. 这家银行拒绝提供贷款的依据,是二十年前成立的布雷顿森林协议.该协议固定了各国货币对美元的汇率, 并将美元与黄金的比价设为35美元对一盎司黄金.

布雷顿森林协议签定于1944年, 力图透过阻止货币在国际间逃逸, 限制国际货币投机买卖, 从而促成国际货币的的稳定. 在此协议之前, 盛行于1876年至第一次世界大战的金本位货币制度, 主导了国际经济体系.在金本位制度下, 货币在黄金价格的支持下达到新的稳定阶段, 也废除了旧时代国王和统治者任意贬低币值,引发通货膨胀的积习.

可是金本位货币制度也不是十全十美.随着一国经济的增强, 它会从国外大量进口商品, 直到耗低支持本国货币所需的黄金储备. 因此, 货币供给量减缩, 利率攀升, 经济活动减缓而达到衰退的程度. 最终, 商品物价跌至谷底,吸引其它国家纷至沓来, 大量抢购该国商品, 而使该国重新注入黄金, 直到该国的货币供应量增加, 而压低利率, 重新创造财富. 在整个金本位货币制度期间, 这种繁荣-衰退模式不断反复, 直到第一次世界大战的爆发打断了贸易流通和黄金的自由流动.

在几番风雨浩劫的战争后, 布雷顿森林协议应运而生.签约国同意尝试维持本国货币对美元的汇率, 以及必要时对黄金的相应比率. 各国禁止为获取贸易利益而贬低本国币值, 只允许在小于10%的幅度内贬值货币. 进入1950年代,国际贸易的规模日益扩大, 导致因战后重建而产生的资金大规模转移. 这使得布雷顿森林协议确立的外汇汇率失去稳定.

该协定最终于1971年废止, 美元将不能再被兑换成黄金. 等到1973年, 各主要工业国的货币汇率更加自由浮动, 主要由外汇市场的货币供需而调控. 整个1970年代,随着交易量, 交易速度及价格的波动日益增加, 比价天天浮动, 全新的金融工具逐渐问世,市场解除管制,贸易也日趋自由化.

在1980年代, 随着计算机及相关技术的发展,跨国资本流通加速, 将亚, 欧, 美洲时区的市场连在一起.

欧洲市场


外汇交易蓬勃发展的主因之一, 是欧洲美元市场的迅速成长; 在欧洲美元市场中,美元被存入美国境外的银行. 同样的, 欧洲市场是指资产存放货币原主国之外的市场. 欧洲美元市场最初形成于1950年代, 当时俄罗斯将其石油收益(以美元计)存放在美国境外, 以避免美元存款被美国政府冻结的风险. 这就形成了脱离美国政府控制的巨大境外美元金库.美国政府颁布法令, 开始限制将美元借贷给外国人. 由于欧洲市场的管制较少, 而且利润更高, 因此特别具有吸引力. 从1980年代后期开始, 美国公司开始从境外市场筹措资金, 发现欧洲市场对于持有超额流动资金, 提供短期贷款以及进出口融资而言, 是一个有利的中心.

不管在当时还是今天, 伦敦都是最主要的境外市场. 在1980年代, 英国银行为维系其在全球金融业的主导地位, 开始将美元做为英镑的替代币种进行放款, 从而成为欧洲美元市场的中心. 伦敦便利的地理位置(介于亚洲及美国市场之间运作),也有助于当地保持在欧洲市场的主导地位.

外汇与股市

外汇交易是一个24小时市场, 提供了一个主要优势胜于证券交易. 全天24小时制, 无论在全世界任一地方, 总有买卖者在活跃地交易外汇. 交易者们总能迅速对新出现的新闻, 同时盈亏不受数小时后的盈利报告或分析师建议, 影响.

外汇市场的交易以一种货币买卖另一种货币. 因此, 货币的牛市或熊市行情, 端视它与其它货币的相对价值而定. 如果前景看好, 交易者能以其它货币买进该货币而获利,因此出现牛市行情. 反之, 如果该货币前景看淡, 其它货币则会产生牛市行情, 因此交易者能从卖出该货币而获利. 不论如何, 交易者都有某种多头的交易机会.

外汇市场的骨干是由全球交易商(大多为主要商业银行)的网络组成, 这些交易商透过电子网络及电话彼此交易, 也与其客户交易. 不同于纽约证券交易所在股市扮演一个交易的中央地点, 外汇市场并没有组织化的交易所. 其交易方式很类似美国的那斯达克 (NASDAQ) 市场, 因此也被称为店头市场或 OTC 市场.

外汇交易允许比股市和期货更高的杠杆交易. 不管帐户大小, 我们向客户提供 1% 的保证金帐户.

关注 G-7 货币, 和股市相比, 股市有超过 4,500 种股票. 把时间用在其他的地方, 投资只是生活的一部分.

外汇市场的每日交易量超过 1.4 兆亿美元, 是世界上最大的金融市场.

外汇交易优势
免佣金, 免手续费
1% 的保证金
帐户赤字保护
24 小时制交易
流动量极大

提供给您的优势


只需要 1 美元就可以交易真实帐户
开户后我们在您的真实帐户里存入 5 美元现金
完全外汇交易自动化
极小的 3-4 点差价
外汇报价与点差保证
简单易用的先进交易平台
直接在外汇图表上交易
自动交易 外汇市场
Well, so you have completed your forex education class or learned a new FX strategy from a mentor or perhaps a website. In order to master the strategy and put another weapon in your forex arsenal you must practice, practice, and practice some more!

In my forex trading plan I always allot plenty of time for learning and practicing. I never employ a new forex strategy without study and practice in a demo account.

Do you think Tiger Woods learned how to hit a flop shot during his warm ups for the 2004 Masters and used it later that day to win the tournament? Not on your life! He has been practicing that shot for years and years on the practice range!

You must begin approaching your forex education like an athlete approaches preparing for an event. Spend the largest percentage of your time practicing new trading systems, so when the market favors the FX strategy you are ready to take advantage of the opportunity.

You must maximize your trading potential through practice. Unused potential is easily wasted. If you don’t think this is the case take a look at the 21 Day 3% Rule.

The human mind only retains 80% of something learned within just 3 days!

In only another 18 days after the learning event the human mind only retains 3% of the information!!!

Tiger Woods was quoted saying “it is funny that the more I practice the luckier I get.” As a forex trader we can learn a lot about preparations from following successful athletes.


Remember forex education and preparation is king!

Happy Trading!


Visit FX Trade Central for more forex educational infomration.

Forex Going Mainstream

I was thumbing through the April 3rd edition of Business Week and in the Personal Business Investing section there was an article titled “The Currency Game: Home Version” by Adrienne Carter. The article summarized forex trading and then painted a brutal picture of forex. Forex trading can be a brutal business, but is giving your hard earned money over to a money manager just because you have not taken the time to get financially educated is even more brutal!

On first glance I was glad to see forex being introduced in a mainstream business publication. It also reinforced a psychology lesson I had back at my days at Arizona State University …

Think critically about what you read. Know the sources of your information and project yourself into views of the authors. After that form your opinion based on the facts. I think far too many people take things at face value!

The article was sounded a warning signal about trading the forex market. Addressing the symptoms (forex risk) without truly identifying the root cause (lack of investor education) in my opinion does a great disservice to the readers. That is why this blog and my sites (FX Trainer and FX Trade Central) are dedicated to forex education.

It is just like looking at the technicals while having an understanding of the effects of the fundamental. Learning to evaluate information from many angles without over-analyzing is a great skill to utilize in your trading.

Happy Trading!

Time to Build Your Storm Shelter

On a recent post tilted “Perfect Storm” I wrote of the impending economic storm that is beginning to form in the American economy. In fact, this storm is brewing in most industrialized nations (thank you Margaret – if anyone still thinks all Americans are rich just look at last years hurricane disaster in New Orleans!). The largest generation is getting older and the working population is getting smaller. The economic systems are not broke; they are just not designed to operate in the global climate of tomorrow.

From the outside the United States and Europe appear to be on separate economic tracks. The U.S. is hard and fast a market-driven economy and Europe leans towards socialist governance. Economist will go on and on about the underlying conditions, but in its simplest form America lets the markets and business dictate the economic path (for the most part) and Europeans elects officials to dictate social welfare. Government retirement is about the same, only the delivery vehicles differ. The European governments rely on a high tax base to delivery retirement benefits to its citizens. America incentives come in the forms of business pension funds and tax-deferred savings plans (made popular by the Employee Retirement Income Security Act (ERISA) of 1974 and to a lesser degree government retirement or social security (Great Depression Era reform and outdated).

This is what we are taught in school and at home!

This is all changing. The European form of social welfare worked well when 80% of the population was supporting 20% of retired citizens. You see this in France where students are actual demonstrating to keep the ‘status quoi’ workers benefits. Governments are recognizing that the current model will not hold far into the future. America is no different, except the deterioration can be seen in the collapsing corporate pension funds, United Airlines being the most infamous. IBM has also recently address there pension concerns by closing the pension to new employees and offering tax-deferred saving plan in its place.

Time to wake up and smell the coffee!

The economies are now globalizing and as change besets the western nations a new economic model is emerging. The economic models are changing and we need to change too! Change is inevitable. Change is also the enemy of retirement planning, but change must be embraced.

What now?

Education is the key. Financial education! We must learn financial skills and take personal responsibility for our financial well being. We must also incorporate financial education in our school systems. When I was in the 4th grade my class had a year long project to select stock on the American Stock Exchange and follow them throughout the year. I was 7 years old and had my first investment class. It was also my last financial lesson in the US educational system!

It is time to build your financial shelter.

Learn a financial skill that will take you forward and allow you to prosper in this rapidly emerging global economy. Don’t expect anyone to take care of you. Financial markets (Forex), real estate, and internet business are my choices. I use forex and my internet business for cash flow and real estate for wealth building. I cannot emphasize enough the importance of education. When I was younger I use to sell stereo equipment at a retail store. It would amaze me that people would spend 80% of their budget on the components and 20% on speakers. Ultimately it is the speakers that produce the sound you hear and should command the majority of your budget. Same thing is true about your financial education. No matter what happens, it is your knowledge that will allow you not only survive the changing economy, but to prosper!

I heard a story once that less than 1% of the world’s population controls 99% of the wealth. If you took all the money in the worlds and divided it up equally amongst the earth’s citizens than within a year that 1% would control 99% of the wealth again. Why? It is because the 1% have financial literacy. Isn’t it time we learn those financial skills!

Happy Trading!

For your forex education, visit me at FX Trainer!
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