Forex Trading online is a lucrative field of endeavour, and has been the source of business activity for countless people worldwide. Many traders trade for a living, making forex trading online a full time job or career.
If you are looking to improve your forex trading, one of the major questions that is in your mind is this: " What are the best tools that I can use to practise my forex trading ?"
When we talk about forex trading, we are talking about the business of making money from the trades. We are concentrating on being profitable, and so our main objectives is to learn the practical skills of dynamic trading and not the head knowledge from reading countless MBA style books or publications. Let us look at what tools we should consider:
Forex Strategy Builder
Your forex trading strategy should be given the foremost consideration because if you do not have the correct forex trading strategy that has been devised to suit your risk profile and capital base, you will come under tremendous pressure to perform or bring results or profits during the periods of trading. You really do not wish to be paralysed from trading because you are cowering in fear when your trading strategy calls for you to buy at the lows or sell at the highs, and you are unable to do so simply because that strategy does not fit your trading psychology or risk profile. So get yourself a forex strategy builder software. There are free and commercial ones that you can check out for your use. Devise your trading strategies-test them out to ensure you are happy and comfortable with them before you even start to do actual trades.
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Important Note : Most traders are losing money in their forex trades simply because of a flawed trading strategy, although they may not realise it or acknowledge it! The KEY to start off is to do so with a correct and proven trading strategy. When I say "proven", I mean a strategy that is in use by any experienced trader and is bringing in a consistent income- I do not mean over optimised moving average systems or back tested systems that perform very well but have not been tested in real time. Check out Avi Frister Forex Trading Machine to see 3 of his most remarkable and unique forex trading strategies and how they can help you to become a profitable trader, by clicking here.
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Demo Accounts
There are free demo accounts from forex brokers that you can use to practise your trading techniques and to get familarized with your trading setups.While you have used a forex strategy builder to devise a trading strategy, here you use a demo account to put your trading strategy to home your trading skills. Practise make perfect, and you can spend hours on the demo account to quickly gain experience and skills in trading that will normally take you months and years.
Trading Log
A practical tip while using demo accounts is to keep a record of each trade you make, recording the reasons you take the trade, and the outcome of the trade. At the end of your demo session, review whether you did well following your trading strategy or trading technique and also where you had gone wrong if the trade was not profitable. This is a very important part of your education as a forex trader and should not be omitted at any cost if you wish to learn from your mistakes, and not be made to pay for it as it is still paper trading.
Trading Calculators
Get familarised with the use of general trading calculators such as pivot calculators and fibonacci calculators. The pivot calculators will be useful to let you project price levels for yoru daily trades. Similarly, the use of fibonacci calculators will be useful for you to get indications of pullback levels and retracement levels. Trading calculators are some of the simplest tools to use in forex trading. While there are some trading systems that use exclusively trading calculators and are very costly, their basic principles are the same - to provide an indication of projected price . Use these trading calculators while you practise your forex trading, and get familarised with projected price levels as you paper trade. There are free trading calculators available for downloads.
Wednesday, April 25, 2007
Tuesday, April 17, 2007
Day Trading Forex-4 Reasons For A Stock And Shares Trader To Migrate Over To Trade Forex
If I am day trading the stock and futures market, why would I want to move into day trading the forex as another additional trading avenue? Are there any special features of day trading the forex market that appear more appealing to stock traders to attract them to trade the forex as well?
In the pursuit of prosperity, we are always looking for ways to create personal wealth, and day trading forex offers much more opportunities to create wealth than say trading stocks and shares and commodities. Why is this so?
Forex Markets open 24/7
The stock markets and the commodity markets have set times that they are open for trading. In contrast, the forex markets are open 24hours a day, seven days in the week, giving much more trading opportunities to the day trader to trade. At the same time, convenience is a key factor, as anyone can trade at any convenient time with a web based trading platform provided free by his forex broker.
Higher Liquidity
The day trader is always conscious of liquidity. It is liquidity that allows a day trader to move smoothly into a day trade instantaneously at the best identified price without lag which will lead to a poor executed price. When he wants to buy, the day forex trader is able to get into that trade almost instantaneously due to the higher liquidity in the forex market and when a day trader wants to sell, he can get out of the currency at his price without delay. Where the difference in a fraction of a cent is important, this characteristic of very high liquidity makes forex trading very attractive. More so, it has been proven that there are trading systems that allow day traders to trade for only an hour or two, freeing them to do whatever they like for the rest of the day after pocketing profits. These are day traders who professionally trade for a living.
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Important Note: If you like to learn one of the most powerful trading techniques on price action that has been very accurate in trading the forex, check out Avi Frister Forex Trading Machine. Avi uses 3 techniques which has allowed him to earn consistent 5 figure incomes trading the forex, and he acts as a personal mentor in Forex Trading Machine to show how you can duplicate his success as well. Click here for details.
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Lower Trading Costs
Forex trading seems like a dream to many day traders because there are no exchange fees, no commissions paid to brokers, and low transaction fees. In contrast, the day traders in stocks and shares and futures market all incur fees and commissions paid to licensed dealers and brokers, all of which will result in less profits.
Ability To Earn From Referrals
The active day trader can enter into arrangements with some forex brokers to earn a referral commission from the trades of people he introduces to the forex broker. Now while this is another separate activity, it cannot be denied that this is an added advantage for a day trader to earn something extra from his efforts in introducing or recommending friends to trade as well.
All these features make day trading the forex an attractive and possible replacement income source for those who work from home trading for a living.
To discover how you can also earn a lifetime of residual incomes monthly from referring your friends who are also forex traders, click here.
Remember, desire is NOT wealth. Wealth is applied knowledge. Therefore, you need to start to take action, by learning how to trade!
Day Trading Forex
In the pursuit of prosperity, we are always looking for ways to create personal wealth, and day trading forex offers much more opportunities to create wealth than say trading stocks and shares and commodities. Why is this so?
Forex Markets open 24/7
The stock markets and the commodity markets have set times that they are open for trading. In contrast, the forex markets are open 24hours a day, seven days in the week, giving much more trading opportunities to the day trader to trade. At the same time, convenience is a key factor, as anyone can trade at any convenient time with a web based trading platform provided free by his forex broker.
Higher Liquidity
The day trader is always conscious of liquidity. It is liquidity that allows a day trader to move smoothly into a day trade instantaneously at the best identified price without lag which will lead to a poor executed price. When he wants to buy, the day forex trader is able to get into that trade almost instantaneously due to the higher liquidity in the forex market and when a day trader wants to sell, he can get out of the currency at his price without delay. Where the difference in a fraction of a cent is important, this characteristic of very high liquidity makes forex trading very attractive. More so, it has been proven that there are trading systems that allow day traders to trade for only an hour or two, freeing them to do whatever they like for the rest of the day after pocketing profits. These are day traders who professionally trade for a living.
=====================
Important Note: If you like to learn one of the most powerful trading techniques on price action that has been very accurate in trading the forex, check out Avi Frister Forex Trading Machine. Avi uses 3 techniques which has allowed him to earn consistent 5 figure incomes trading the forex, and he acts as a personal mentor in Forex Trading Machine to show how you can duplicate his success as well. Click here for details.
=======================
Lower Trading Costs
Forex trading seems like a dream to many day traders because there are no exchange fees, no commissions paid to brokers, and low transaction fees. In contrast, the day traders in stocks and shares and futures market all incur fees and commissions paid to licensed dealers and brokers, all of which will result in less profits.
Ability To Earn From Referrals
The active day trader can enter into arrangements with some forex brokers to earn a referral commission from the trades of people he introduces to the forex broker. Now while this is another separate activity, it cannot be denied that this is an added advantage for a day trader to earn something extra from his efforts in introducing or recommending friends to trade as well.
All these features make day trading the forex an attractive and possible replacement income source for those who work from home trading for a living.
To discover how you can also earn a lifetime of residual incomes monthly from referring your friends who are also forex traders, click here.
Remember, desire is NOT wealth. Wealth is applied knowledge. Therefore, you need to start to take action, by learning how to trade!
Day Trading Forex
Monday, March 26, 2007
If You Are Not Winning At Forex Trades...Do This !
If you are not winning at forex trades, you are probably caught in any one of the following situations:
1. you entered the trade far too early, and got out far too early as well...even before the trade moved in your favor.
2. you entered the trade far too early, and got out of the trade far too late...after all the profits were eroded to the bone.
3. you entered the trade far too late, after the best part of the move was over, and got out far too early.
4. you entered the trade far too late, got out far too late and suffered a loss as a result
5. you read the market wrongly and got in the wrong side of the trade
6. you entered the trade with the idea it was to be a fast trade, even probably a day trade, but since the trade was not profitable towards the end of the day, you converted it to a swing trade to hold over the next few days.
7. you entered the trade as a swing trade to hold over the next few days, but then there were some economic news from China or from America that didn't seem just right and you exit the trade immediately for a loss.
8. you entered the trade based on some technical indicators, but then halfway in the trade, the technical indicators gave conflicting signals and so you exit the trade to "protect" against further losses.
9. you listened to your friend or broker, entered the trade, and then caught "cold feet" when your margin account hit a limit, and you quickly exit to protect yourself.
.....So, did any of the above 9 situations reflect you in any way?
Each of these 9 situations mentioned above shows the inability to get a DEFINED TRADING SIGNAL from your existing trading system.
Each situation reflect your inability to know clearly from the trading signals generated from your trading system exactly what the next step of action you should be taking to ensure your trade is a profitable one and not a losing trade.
In other words, it shows your FAILURE to capture the CORRECT TRADE SIGNAL and to proceed quickly to take the CORRECT TRADE ACTION.
All this is because of your trading system which is FLAWED.
If any of the above 9 situations reflect your position, then I have good news for you.
YOU CAN TURN YOUR TRADING AROUND SIMPLY BY FOLLOWING IN THE PROVEN TRADING TECHNIQUES OF THE FOREX MACHINE TRADER, MR. AVI FRISTER.
Do not miss the chance to sort out this difficulty that plaque your trading, because once you get your trading system correct, no obstacles can stand in your way to making massive profits in your trading.
To learn how Avi Frister uses his Forex Trading Machine system to suck in profits like an ATM machine every month, and how you can also duplicate his success, CLICK HERE.
If You Are Not Winning At Forex Trades...Do This! Try The Forex Trading Machine
1. you entered the trade far too early, and got out far too early as well...even before the trade moved in your favor.
2. you entered the trade far too early, and got out of the trade far too late...after all the profits were eroded to the bone.
3. you entered the trade far too late, after the best part of the move was over, and got out far too early.
4. you entered the trade far too late, got out far too late and suffered a loss as a result
5. you read the market wrongly and got in the wrong side of the trade
6. you entered the trade with the idea it was to be a fast trade, even probably a day trade, but since the trade was not profitable towards the end of the day, you converted it to a swing trade to hold over the next few days.
7. you entered the trade as a swing trade to hold over the next few days, but then there were some economic news from China or from America that didn't seem just right and you exit the trade immediately for a loss.
8. you entered the trade based on some technical indicators, but then halfway in the trade, the technical indicators gave conflicting signals and so you exit the trade to "protect" against further losses.
9. you listened to your friend or broker, entered the trade, and then caught "cold feet" when your margin account hit a limit, and you quickly exit to protect yourself.
.....So, did any of the above 9 situations reflect you in any way?
Each of these 9 situations mentioned above shows the inability to get a DEFINED TRADING SIGNAL from your existing trading system.
Each situation reflect your inability to know clearly from the trading signals generated from your trading system exactly what the next step of action you should be taking to ensure your trade is a profitable one and not a losing trade.
In other words, it shows your FAILURE to capture the CORRECT TRADE SIGNAL and to proceed quickly to take the CORRECT TRADE ACTION.
All this is because of your trading system which is FLAWED.
If any of the above 9 situations reflect your position, then I have good news for you.
YOU CAN TURN YOUR TRADING AROUND SIMPLY BY FOLLOWING IN THE PROVEN TRADING TECHNIQUES OF THE FOREX MACHINE TRADER, MR. AVI FRISTER.
Do not miss the chance to sort out this difficulty that plaque your trading, because once you get your trading system correct, no obstacles can stand in your way to making massive profits in your trading.
To learn how Avi Frister uses his Forex Trading Machine system to suck in profits like an ATM machine every month, and how you can also duplicate his success, CLICK HERE.
If You Are Not Winning At Forex Trades...Do This! Try The Forex Trading Machine
Wednesday, March 21, 2007
Step by Step Guide To Identify Trading Breakouts Into Uptrends Using Simple Technical Analysis
If you need help in identifying when a stock has already break out of a trading range and is ready for a rally or move into uptrend, here is a simplified guide.
Call up the chart of the stock you are interested in, and perform the following steps:
1. Volume Analysis
When stocks fall in price, there should be an increase in volume to denote selling or distribution. There is normally a sudden spike in volume when the stock hits a near bottom or bottom. This volume spike shows that selling is exhausted, as the last remaining weak holders of the stock give up in despair as prices continue to drop and throw out their last remaining stocks, causing the volume spike.
Correspondingly, look for an increase in volume as the trend changes and there is an break out in price, when buyers come in to pick up the stock as they perceive the price has gone down low enough.
Forex traders- there is no volume analysis for your forex trades, and you can just move down to the next item below.
2. Pattern Analysis
Before a stock break out of a trading or consolidation range, there are tell tale signs and specific patterns that you can usually find. Among the bottoming patterns are candlestick patterns such as hammers, inverted hammers, piercing lines, rising stars, bullish engulfing patterns. Of notable interest is the inside day or included day pattern, which is commonly sighted before the outbreak. When there is an inside day, pay attention!
3. Trendlines
Trendlines is a simple way to identify outbreaks in trend. Connect the tops of previous high price ranges or the bottoms of previous low price ranges to form a trendline. A penetration upwards of the trendline will denote a outbreak to the upside and a outbreak to the downside denotes further correction.
4. Oscillators
Favorite oscillators to show overbought and oversold regions of a stock are the Stochastics and its close cousin, the Stoch-RSI. By themselves, they can lead to whipsaws as oscillators can be overbought or oversold for long periods. So oscillators like these should be used in conjunction with other indicators for synergistic interpretation. The out break into uptrends is denoted by the stochastics or the stoch-rsi moving upwards above the lower level which is normally fixed at 20% ( oversold level), and where 80% is the overbought region.
Trading outbreaks is a fine art, where some successful traders have been very successful in removing all emotion that prevent them from taking immediate action. Some of them have "perfected" their trading systems to recognise trends and patterns using just price bars and time- without any other technical indicators - so that they can trade their proven systems without being paralysed by too much analysis. To them, trading is both fun and profitable, as they have proven to outlast the many market crashes and have continued to increase their personal wealth by trading.
Check out Avi Frister's Forex Trading Machine where he reveals his secrets of trading without indicators but just on price-action...and you can adopt his systems to make massive profits as well.
Call up the chart of the stock you are interested in, and perform the following steps:
1. Volume Analysis
When stocks fall in price, there should be an increase in volume to denote selling or distribution. There is normally a sudden spike in volume when the stock hits a near bottom or bottom. This volume spike shows that selling is exhausted, as the last remaining weak holders of the stock give up in despair as prices continue to drop and throw out their last remaining stocks, causing the volume spike.
Correspondingly, look for an increase in volume as the trend changes and there is an break out in price, when buyers come in to pick up the stock as they perceive the price has gone down low enough.
Forex traders- there is no volume analysis for your forex trades, and you can just move down to the next item below.
2. Pattern Analysis
Before a stock break out of a trading or consolidation range, there are tell tale signs and specific patterns that you can usually find. Among the bottoming patterns are candlestick patterns such as hammers, inverted hammers, piercing lines, rising stars, bullish engulfing patterns. Of notable interest is the inside day or included day pattern, which is commonly sighted before the outbreak. When there is an inside day, pay attention!
3. Trendlines
Trendlines is a simple way to identify outbreaks in trend. Connect the tops of previous high price ranges or the bottoms of previous low price ranges to form a trendline. A penetration upwards of the trendline will denote a outbreak to the upside and a outbreak to the downside denotes further correction.
4. Oscillators
Favorite oscillators to show overbought and oversold regions of a stock are the Stochastics and its close cousin, the Stoch-RSI. By themselves, they can lead to whipsaws as oscillators can be overbought or oversold for long periods. So oscillators like these should be used in conjunction with other indicators for synergistic interpretation. The out break into uptrends is denoted by the stochastics or the stoch-rsi moving upwards above the lower level which is normally fixed at 20% ( oversold level), and where 80% is the overbought region.
Trading outbreaks is a fine art, where some successful traders have been very successful in removing all emotion that prevent them from taking immediate action. Some of them have "perfected" their trading systems to recognise trends and patterns using just price bars and time- without any other technical indicators - so that they can trade their proven systems without being paralysed by too much analysis. To them, trading is both fun and profitable, as they have proven to outlast the many market crashes and have continued to increase their personal wealth by trading.
Check out Avi Frister's Forex Trading Machine where he reveals his secrets of trading without indicators but just on price-action...and you can adopt his systems to make massive profits as well.
Tuesday, February 27, 2007
Stock Market Crashes And The Flight Back to Quality..& Forex!
Stock Market Crash and Forex Trading
When the stock market crashes, and the Dow Jones is falling like ten pins, there is a sudden "flight back to quality"- where traders and investors would want to trade the blue chip quality stocks. But they cannot invest too much because unless you have a huge amount of capital, these blue chips are price very high- they really aren't cheap for the small guy.
During stock market crashes, what can the small guy do?
Either he hold on to his cash tightly and enjoy no appreciation in value of his cash, or he can do like many well-informed traders...the small guy can trade the forex!
The forex market allows some with as low as $25 to trade. For Example, Easy Forex, so you really do not need a huge capiital...only a good technique and training.
Forex trading is available 24 hours a day, so you can trade as long as a few seconds to days as a swing or trend trader. There are no commissions when trading, only you need to be concerned about the spreads. You can even have a no dealing desk - where you are trading on your own without any broker intervention.
Yes, it is when the stock market has crashed that there is a flight back to quality, a urging to hold on to your cash, where cash is king, or you can grab the golden opportunity to trade forex.
But before you do, remember to learn how to trade well. Seek out a mentor and accelerate your learning with some powerful techniques that have been proven to be successful. If you ever need help..solid help, go check out Avi Frister's course "The Forex Trading Machine". You can be sure of some exciting proven methods that will bring you a substantial income, trading forex, AND be able to flex those trading skills from your stock market trading and bring them on to the forex trading arena.
When the stock market crashes, and the Dow Jones is falling like ten pins, there is a sudden "flight back to quality"- where traders and investors would want to trade the blue chip quality stocks. But they cannot invest too much because unless you have a huge amount of capital, these blue chips are price very high- they really aren't cheap for the small guy.
During stock market crashes, what can the small guy do?
Either he hold on to his cash tightly and enjoy no appreciation in value of his cash, or he can do like many well-informed traders...the small guy can trade the forex!
The forex market allows some with as low as $25 to trade. For Example, Easy Forex, so you really do not need a huge capiital...only a good technique and training.
Forex trading is available 24 hours a day, so you can trade as long as a few seconds to days as a swing or trend trader. There are no commissions when trading, only you need to be concerned about the spreads. You can even have a no dealing desk - where you are trading on your own without any broker intervention.
Yes, it is when the stock market has crashed that there is a flight back to quality, a urging to hold on to your cash, where cash is king, or you can grab the golden opportunity to trade forex.
But before you do, remember to learn how to trade well. Seek out a mentor and accelerate your learning with some powerful techniques that have been proven to be successful. If you ever need help..solid help, go check out Avi Frister's course "The Forex Trading Machine". You can be sure of some exciting proven methods that will bring you a substantial income, trading forex, AND be able to flex those trading skills from your stock market trading and bring them on to the forex trading arena.
Monday, February 26, 2007
Secrets Of Price Action Trading Revealed For Free!
Secrets of Price Action Trading
I used to be amazed with stories of old about the great traders who could reportedly amass great fortunes trading with nothing except a good knowledge of reading the tape or knowing the price movements- they were the experts in pure price action trading.
With so many trading software in the world today, is price action trading still valid and how good is it?
I have news for you. Let me address the later part of the question above- how good is price action trading.
A professional trader and coach who is well known and respected for his price action trading in commodities and futures is Bryce Gilmore. I had the honour of watching him trade online through his private membership forum some two years ago, when he proceeded to make some good trades with nothing but his skills in trading price bars and his uncanny ability to know the turns of the market. He would sell just when he felt it was topping, and indeed he was proven right. Amazing, but he proved price action trading works in his skillful demonstration in trading futures and commodities..
Whenever I am asked this question about price action trading in forex, the name of Avi Frister always comes to mind. Not that he is the greatest trader in the world today- no, not this, but when someone who is brave enough to put forward something revolutionary, something that is different from 95% of other forex traders who use standard technical indicators or their variations thereof, AND also make money... a tremendous amount of money, then there is good reason to sit up, and give some attention to what he is doing.
Of course there is something else that makes me pay more attention than usual - because Avi Frister also happens to make a 5 figure income trading forex AND also care to REVEAL his technique in his trading course, so that every forex trader can benefit... which means YOU can benefit.
Sometimes we are so fixated on our own trading systems and our own ideas that we fail to recognise a trading that can out-perform, and need to check things out.
So whether you are a veteran trader who uses technical indicators and are finding trading forex hard going, or if you are a beginner to forex who need a good push and clear directions, I will suggest you check out Avi Frister's FOREX TRADING MACHINE , his course in the form of an ebook where he openly REVEALS all his three best trading systems based on price action. It takes a big heart to show others how you trade, especially if the trading system is so profitable. Best of all, Avi shows you how to make big profits with day trading the forex, and he also shows you how to swing trade the forex profitably for those who cannot spend time with the trading monitor.
It is truly hard to get a professional trader who is successful to reveal his techniques and his tricks...although there are lots of ebooks and courses on trading that are rehashed materials available anywhere on the internet for free. Not that those are not useful..many are ..especially if you are starting off to learn about forex trading. BUT if you wish to accelerate your learning and start to make a consistent 5 figure income trading forex- without wasting time trying to muddle along the way or to learn by trial and error by yourself in a D-I-Y (Do It Yourself) fashion, then you need to visit Avi Frister's website immediately by clicking here!
PS. To help forex traders reach their optimum trading levels, I am giving away two special reports -HOW TO GAIN YEARS OF TRADING EXPERIENCE WITHIN WEEKS! and HOW TO TEST, PROOF-RUN AND DETERMINE THE EFFECTIVENESS OF A TRADING STRATEGY BEFORE RISKING A SINGLE CENT! if you are buying Avi Frister's trading course from my link.
Here's what you must do next:
Here is my link for you to order:CLICK HERE TO ORDER THE FOREX TRADING MACHINE FROM MY LINK
Give me details of your receipt by email Once your receipt has been checked and your order has been confirmed to be made from my link, I will send you the bonuses.
You'll only get my free bonuses if you order from my link. There have been cases where readers have purchased without their cookies switched on to benefit from the bonuses, and I really don't wish you to miss out!
I used to be amazed with stories of old about the great traders who could reportedly amass great fortunes trading with nothing except a good knowledge of reading the tape or knowing the price movements- they were the experts in pure price action trading.
With so many trading software in the world today, is price action trading still valid and how good is it?
I have news for you. Let me address the later part of the question above- how good is price action trading.
A professional trader and coach who is well known and respected for his price action trading in commodities and futures is Bryce Gilmore. I had the honour of watching him trade online through his private membership forum some two years ago, when he proceeded to make some good trades with nothing but his skills in trading price bars and his uncanny ability to know the turns of the market. He would sell just when he felt it was topping, and indeed he was proven right. Amazing, but he proved price action trading works in his skillful demonstration in trading futures and commodities..
Whenever I am asked this question about price action trading in forex, the name of Avi Frister always comes to mind. Not that he is the greatest trader in the world today- no, not this, but when someone who is brave enough to put forward something revolutionary, something that is different from 95% of other forex traders who use standard technical indicators or their variations thereof, AND also make money... a tremendous amount of money, then there is good reason to sit up, and give some attention to what he is doing.
Of course there is something else that makes me pay more attention than usual - because Avi Frister also happens to make a 5 figure income trading forex AND also care to REVEAL his technique in his trading course, so that every forex trader can benefit... which means YOU can benefit.
Sometimes we are so fixated on our own trading systems and our own ideas that we fail to recognise a trading that can out-perform, and need to check things out.
So whether you are a veteran trader who uses technical indicators and are finding trading forex hard going, or if you are a beginner to forex who need a good push and clear directions, I will suggest you check out Avi Frister's FOREX TRADING MACHINE , his course in the form of an ebook where he openly REVEALS all his three best trading systems based on price action. It takes a big heart to show others how you trade, especially if the trading system is so profitable. Best of all, Avi shows you how to make big profits with day trading the forex, and he also shows you how to swing trade the forex profitably for those who cannot spend time with the trading monitor.
It is truly hard to get a professional trader who is successful to reveal his techniques and his tricks...although there are lots of ebooks and courses on trading that are rehashed materials available anywhere on the internet for free. Not that those are not useful..many are ..especially if you are starting off to learn about forex trading. BUT if you wish to accelerate your learning and start to make a consistent 5 figure income trading forex- without wasting time trying to muddle along the way or to learn by trial and error by yourself in a D-I-Y (Do It Yourself) fashion, then you need to visit Avi Frister's website immediately by clicking here!
PS. To help forex traders reach their optimum trading levels, I am giving away two special reports -HOW TO GAIN YEARS OF TRADING EXPERIENCE WITHIN WEEKS! and HOW TO TEST, PROOF-RUN AND DETERMINE THE EFFECTIVENESS OF A TRADING STRATEGY BEFORE RISKING A SINGLE CENT! if you are buying Avi Frister's trading course from my link.
Here's what you must do next:
Here is my link for you to order:CLICK HERE TO ORDER THE FOREX TRADING MACHINE FROM MY LINK
Give me details of your receipt by email Once your receipt has been checked and your order has been confirmed to be made from my link, I will send you the bonuses.
You'll only get my free bonuses if you order from my link. There have been cases where readers have purchased without their cookies switched on to benefit from the bonuses, and I really don't wish you to miss out!
Thursday, February 15, 2007
How I Developed The Reflexes Of A Super Trader
How To Become A Super Trader
I was interviewing a well known professional trader and trading coach who was one of the world's acknowledged Time-Price specialist and had authored several best-sellers on trading based on dynamic time-price analysis. He had a colorful background, having been the National Backjack Champion prior to becoming a trader where he made his mark and his millions! But indeed, his reputation as a super trader and no-nonsense person is well known.
When I asked him when did he became a profitable trader, I was very surprised when he replied that he became profitable from day one of his actual trading! I thought that was excellent, because most traders would have taken some time to become consistently profitable, or have to struggle through periods of gains and losses before being consistently profitable.
Prodded further, I discovered two main things that contributed to his sterling success as a trader.
Firstly, he revealed that he spent time to study his trading setups, and would concentrate on trading certain price patterns that recur consistently.
To do this, he researched the profitably of these chart patterns from the risk-reward ratios of each occurrence in the past using a strategy builder software. In that way, he could know how each chart pattern performed, what chart pattern that would occur consistently across the same financial vehicle or currency pair, and would be profitable enough for him to trade. He built up confidence in each chart pattern that he was trading, and could take the confidence directly into the real trading environment.
Secondly, he revealed that he would use the barest of technical indicators, and traded mostly using time and price. This involved a computation of price levels, fibonacci price retracements from peaks and rebounds from bottoms, and a corresponding computation of the time pressure points. Time pressure points are the points where price clusters will form to suggest a probable change in trend. It is at these points that he would place a lot of attention to, watching the outbreak from a price pattern, which would be the place where he would enter or exit a trade.
As I recounted this interview with him, I realised that one prominent factor contributed greatly to his success.
It was his insistence to test every price pattern and strategy out on his strategy builder software, and to practise the trade on a trade simulator until he had mastered each price pattern that he had selected for trading. He would do this until he was convinced of the profitablity of the price pattern.
If you are an active trader, I cannot over emphasise the importance of adopting this technique of testing each trading strategy with a strategy builder software and then to practise trading the pattern in a trade simulator or at least a demo account with live data.
While being familar with the individual trade pattern, merely going through this process hones the reflexes, so that you can readily jump on to a trade that has just begun to show promise.
If you are looking for help to reverse those stunning losses in your trading or if you had always wanted to learn a powerful trading technique to become consistently profitable in your trading, today you have a good opportunity to check out Avi Frister's Forex Trading Machine. Avi Frister reveals 3 most profitable winning systems based on his no-indicators time-price trading system so that Forex Trading can become your Cash Cow!
To complete his excellent trading course, I am offerring to guests and readers of my blog to 2 bonuses- a free Trade Simulator and a free Forex Strategy Builder so that you can back test any trading strategy exactly the way the Time-Price specialist has explained.
This is what you must do to get the Trade Simulator and the Forex Strategy Builder, for free as Bonuses:
1.Click on the link at item (5) below.
2.Check out details of the Forex Trading Machine on that page.
3.Order the Forex Trading Machine.
4.Give me details of your receipt by email Once your receipt has been checked and your order has been confirmed to be made from my link, I will send you the bonuses.
5. You'll only get my free bonuses if you order from my link.Here is my link for you to order:
CLICK HERE TO ORDER THE FOREX TRADING MACHINE FROM MY LINK
How To Become A Super Trader
I was interviewing a well known professional trader and trading coach who was one of the world's acknowledged Time-Price specialist and had authored several best-sellers on trading based on dynamic time-price analysis. He had a colorful background, having been the National Backjack Champion prior to becoming a trader where he made his mark and his millions! But indeed, his reputation as a super trader and no-nonsense person is well known.
When I asked him when did he became a profitable trader, I was very surprised when he replied that he became profitable from day one of his actual trading! I thought that was excellent, because most traders would have taken some time to become consistently profitable, or have to struggle through periods of gains and losses before being consistently profitable.
Prodded further, I discovered two main things that contributed to his sterling success as a trader.
Firstly, he revealed that he spent time to study his trading setups, and would concentrate on trading certain price patterns that recur consistently.
To do this, he researched the profitably of these chart patterns from the risk-reward ratios of each occurrence in the past using a strategy builder software. In that way, he could know how each chart pattern performed, what chart pattern that would occur consistently across the same financial vehicle or currency pair, and would be profitable enough for him to trade. He built up confidence in each chart pattern that he was trading, and could take the confidence directly into the real trading environment.
Secondly, he revealed that he would use the barest of technical indicators, and traded mostly using time and price. This involved a computation of price levels, fibonacci price retracements from peaks and rebounds from bottoms, and a corresponding computation of the time pressure points. Time pressure points are the points where price clusters will form to suggest a probable change in trend. It is at these points that he would place a lot of attention to, watching the outbreak from a price pattern, which would be the place where he would enter or exit a trade.
As I recounted this interview with him, I realised that one prominent factor contributed greatly to his success.
It was his insistence to test every price pattern and strategy out on his strategy builder software, and to practise the trade on a trade simulator until he had mastered each price pattern that he had selected for trading. He would do this until he was convinced of the profitablity of the price pattern.
If you are an active trader, I cannot over emphasise the importance of adopting this technique of testing each trading strategy with a strategy builder software and then to practise trading the pattern in a trade simulator or at least a demo account with live data.
While being familar with the individual trade pattern, merely going through this process hones the reflexes, so that you can readily jump on to a trade that has just begun to show promise.
If you are looking for help to reverse those stunning losses in your trading or if you had always wanted to learn a powerful trading technique to become consistently profitable in your trading, today you have a good opportunity to check out Avi Frister's Forex Trading Machine. Avi Frister reveals 3 most profitable winning systems based on his no-indicators time-price trading system so that Forex Trading can become your Cash Cow!
To complete his excellent trading course, I am offerring to guests and readers of my blog to 2 bonuses- a free Trade Simulator and a free Forex Strategy Builder so that you can back test any trading strategy exactly the way the Time-Price specialist has explained.
This is what you must do to get the Trade Simulator and the Forex Strategy Builder, for free as Bonuses:
1.Click on the link at item (5) below.
2.Check out details of the Forex Trading Machine on that page.
3.Order the Forex Trading Machine.
4.Give me details of your receipt by email Once your receipt has been checked and your order has been confirmed to be made from my link, I will send you the bonuses.
5. You'll only get my free bonuses if you order from my link.Here is my link for you to order:
CLICK HERE TO ORDER THE FOREX TRADING MACHINE FROM MY LINK
How To Become A Super Trader
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