Thursday, March 26, 2009

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, because trading can be risky.
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.
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.

Trading of Forex 24 hour

Welcome to the home of 24 hour forex trading
New 24X7 Forex Market Trading website featuring 24 hour stock trading 24-hour daytrading and 24-hours webtrading covering the U.S. and International stock market, forex currencies & futures traders!
Forex Trading - Five Tips to Make Money Fast!
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 mind set.
FOREX trading offers the opportunity to make money fast - so lets examine how it can be done.

Thursday, March 19, 2009

HOW TO READ FOREX

  1. Forex Price Charts, what DO they mean and HOW to use them?
  2. Important numerous facts as discipline, trading rules, not being greedy etc., but one of the most important things is:
  3. LEARN to read the charts as Charts represent the lifeblood of the market.