Discover <b>Forex made Easy</b> Today Superblog: Today's Forex And Forex Trading News<BR><BR>

Monday, March 24, 2008

Today's Forex And Forex Trading News

Global Forex Trading Article Of The Month

How To Create A Simple But Accurate Forex Trading System

By: Gregory DeVictor

The foreign exchange market, or Forex market, is an around-the-clock cash market where the currencies of nations are bought and sold. The value of your Forex investment increases or decreases because of changes in the currency exchange rate or Forex rate. These changes can occur at any time, and often result from economic and political events. The purpose of this article is to present Forex trading system strategies from some of the world's trading greats.

Do Not Play With Your Trading Losses: According to William Eckhardt, These evidently instinctive human tendencies spell doom for the trader - take your profits, but play with your losses.

Good Money Management Alone Is Not Enough: According to Monroe Trout, Good Money Management alone isn't going to increase your edge at all. If your system isn't any good, you're still going to lose money, no matter how effective your money management rules are. But if you have an approach that makes money, then money management can make the difference between success and failure.

Don't Optimize Trading Size: According to William Eckhardt, Trading Size is one aspect you don't want to optimize. The optimum comes just before the precipice.

Do Not Play Catch Up: According to Richard Dennis, I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.

Trade Small: According to Mark Ritchie, I think it's generally a good idea that when you put on a trade, it should be so small that it seems almost a waste of your time. Always trade at a level that seems too small.

Do Not Override Your System Too Often: According to William Eckhardt, You should try to express your enthusiasm and ingenuity by doing research at night, not by overriding your system during the day. Overriding is something you should do only in unexpected circumstances - and then only with great forethought. If you find yourself overriding routinely, it's a sure sign that there's something that you want in the system that hasn't been included.

It Is A Skill You Can Learn: According to Michael Marcus, I think to be in the upper echelon of successful traders requires an innate skill, a gift. It's just like being a great violinist. But to be a competent trader and make money is a skill you can learn.

Courage: According to Bill Lipschutz, It is not enough to simply have the insight to see something apart from the rest of the crowd, you also need to have the courage to act on it and to stay with it. It's very difficult to be different from the rest of the crowd the majority of the time, which by definition is what you are doing if you are a successful trader.

Not Losing Money: According to Linda Bradford Raschke, The good traders are the ones who can hold their ground the majority of the month and participate in that small handful of trades that are windfalls. The real skill is in not LOSING money!

Trading Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.

Gregory DeVictor is a consultant who has been developing and marketing web sites since 1999. Learn more at: www.forex-trading-system.name

Let's Talk About Forex

forex capital

There are a few methods that are used when forecasting the Forex. Each system is used to understand how the Forex works and how the fluctuations in the market can affect traders and currency rates. The two methods that are most often used are called technical analysis and fundamental analysis. Both methods differ in their own ways, but each one can help the Forex trader understand how the rates are affecting the currency trade. Most of the time, experienced traders and brokers know each method and use a mixture of the two to trade on the Forex.
Check out the first commercially available Stock Trading Robot Which Earns $346.77 Per Week

forex trader

Indeed large multinational and individual banks and other major financial institutions have dominated FX trading (also known as Forex trading), but there is a paradigm change in the nature and type of investing. According to one estimate, in the new millennium, there are over 6 million online investment accounts, up from 1.5 million in 1997. As a result, start-up firms now compete directly with financial institutions to serve investors in the new technologically driven economy, and the clear winner is the customer. The competition between the brick and mortar institutions and the Internet-based companies has dramatically lowered the costs of investing, and empowered the individual investor to take control of their own investment strategy in Forex trading.
More info on Forex software

forex trading software

I use very primitive Forex charting methods. Please read 8 hour charts of EUR/GBP with 20 and 40 MA, and read round figures and breakout (from consolidations, then you will realize the method cannot be more primitive than that, but still deadly effective). Buy on dips towards the support and add up on breakout of that consolidation treating the two as one trade with same stop loss and "keep them" as long as the market moves in your way.

Global Forex Trading Stories

Confusion over Russian cops' BP visit

Thu, 20 Mar 2008 06:56:05 EDT
Read full story for latest details.