Friday, February 15, 2013

Top 10 Rules of Trading

Top 10 Rules of Trading

1.Do not overtrade 
◦Trade within your means 
◦Use 1/3 of your total margin only 

2.Always use protective stops to limit losses 
◦Go in with a plan 
◦Don't trade impulsively 
◦Have predetermined risk as well as profit 
◦Don't move stops higher or lower and say "It'll come back." 

3.Diversify your portfolio 
◦Try to avoid "Loading up" in any one commodity or product 

4.Keep emotions in tact 
◦Don't make trading decisions based on "Fear and Greed", as hard as this may be 
◦Make decisions away from the market - "Don't be a screen watcher" 
◦Don't let ego get in the way 

5.Trade in the direction of the immediate trend 
◦Don't try to pick bottoms or tops 

6.Don't add to losing positions - get out!
◦Don't Average "Down" or "Up" 

7.Keep it simple, more complicated is not always better 
◦Trade within your understanding of the markets 

8.Employ approximately a 3:1 reward to risk ratio 
◦Don't ever risk $2 to make $1 

9.Always be a student and keep learning 

10.Above all, be disciplined 

Top 10 Forex Tips Tell You

Top 10 Forex Tips Tell You How to Trade Forex Successfully

Forex Tip No.1: Don’t trust any Cheap Forex Robot or Expert Advisor which promises huge gains with extremely low risk and costs; trust me, it is possibly a scam!
Forex Tip No.2: Any Forex trading system which claims to predict market tops and bottom in advance is impossible. You may know this well if you have referred to my previous articles carefully for I have introduced many times that nobody is able to know where the market is heading next in advance. What they can only do is to analyze it and then make decisions according to it!
Forex Tip No.3: Any Forex trading System which claims it can give you a regular guaranteed income each month is really ridiculous. Since nobody is can corner the highly risky Forex market, how can they assure you of giving you a guaranteed income? No way!
Forex Tip No.4: Make use of the Forex trading information correctly. Many traders loss money because that they only listen to and believe the so called expert opinions. It is not correct. If they can make profits just by trading the facts, then all of the Forex traders would be winners! However, the truth is that 95% of them lose!
Forex Tip No.5: Use Forex Charts.The Forex charts not only reflect all the known fundamentals, they also reflect how traders perceive them, so you are seeing the reality of price action as it is with no opinions.
Forex Tip No.6: Keep Your System Simple. This is really important. Never try to make your Forex system too complicated for you think the smarter is it; the more likely you are going to win the profits. This is absolutely wrong. Actually, complicated Forex system may take more time to run and it will have bad effects on your real time trading.
Forex Tip No.7: Keep an Eye on Sentiment. If you want to win at Forex trading you need to be able to judge if markets are overbought or oversold; there are some services telling you if prices have been pushed to far by greed or fear and alert you, to possible changes in market direction.
Forex Tip No.8: Pay attention to the latest Forex News. The latest Forex news is somehow the most important part of fundamental Forex analysis. It can greatly influence the direction of the price; therefore it will always do you good if you can keep track of what is happening all through the world and then learn to analyze it.
Forex Tip No.9: Choose a reputable Forex Broker. Forex broker, to a large extent, can decide whether you would win in your future trading. Since most traders do not have that much time to manage their account all the time, so what’s the most important for them is to choose a reputable and trust worthy Forex broker that can provide them reliable services.
Forex Tip No.10: Calm down if only the market does not move in the direction that you expected. We all know that people are easy to lose their minds if they find that they have paid great efforts and money but only to find that their hard-earned money has gone. I can totally understand how they feel when facing with this. But calm down! You do not want to lose money for a second time, aren’t you? Then calm down and think clearly what exactly you should do next!

Top 10 Trading Tips

Top 10 Trading Tips for Beginner Traders

1.Tread Softly into Unknown Territory!

Don’t make the mistake of most beginners. For example, they hear some rumors and invest all they have in the hopes of profiting quickly and effortlessly. As a beginning trader start small. Humbly learn all you can about a few instruments before you dive in.

2.Hold on to your Capital!

Quick profits are out there for the taking, but real success at trading comes with time and experience.  Remember: staying cool in this line of work is achieved by discipline and knowledge, by entering and exiting the market confidently.

3.Respect Your Stop Loss!

Do you know what the number one reason is that causes traders to quit trading? They incur heavy losses because they don’t incorporate Stop Loss into their strategies. It’s that simple. If you are not familiar with Stop Loss, make sure you understand it thoroughly before it’s too late.

4.Create a System of Trading

Just like each person has their own fingerprint, so each trader has their own style. You must nurture and develop your own style by reading widely and studying carefully. Study success and you may achieve it!

5.Watch your Profits Grow!

Among  the most important things to remember as a beginning trader is to not to close your winning trades too early.  Avoid making decisions based on fear and impatience.

6.Know when to Adjust!

When your trades prove profitable, watch them closely. If need be, more your stop loss forward to your entry point to guarantee profit. Then, watch the trend and adjust your stop loss. And most importantly, watch the trend to prevent your investment from slipping into a loss.

7.Feeling Doubtful? Follow a Pro!

At youtradeFX we put you in touch with our full time traders and let you study their trades. You can ask questions, receive feedback on your performance and even copy trades that our professionals are invested in. So if you’re just starting out, learn from an expert and in very little time you too may be turning in profits.

8.Plan Forward

Trading takes finesse and planning. If the price of a stock or currency suddenly rises or falls, don’t take that as an indication that it’s a good time to enter. Knowing your entry point well in advance takes study and planning.  You must know your Take Profit and Stop Loss rates before you trade, so then you only have to wait for the right opportunity to come up.

9.Trend Basics

One more thing that new traders should be aware about is that as a new trend starts to grow, it gains momentum. So, imagine that what you see as a great opportunity, so do thousands of others thereby strengthening the trend. This could push your trade into the right direction, increasing your profits sooner than you might forecast.

10.Taking a Loss? Get out!

Remember the old saying, “Don’t put all your eggs in one basket”? So it goes with trading. If one of your trades is taking a loss, pull out! You can always reassess it from the sidelines.

Top 10 Forex Tips

Top 10 Forex Tips Tell You How to Trade Forex Successfully

1. Using indicators and esoteric tools

Many new traders believe that without using every formula and fancy tool at his or her disposal profits will run and hide. This is not true, and it often convinces folks to focus on the indicators rather than the actual price action that indicators come from. Using indicator charts can actually stunt your growth as a trader, slowing down your ability to read “naked” price charts.

2. Failing to grasp and implement a risk/reward strategy

Successful Forex traders know how to limit risk and maximize potential rewards. Beginners, on the other hand, generally do not. Focus on the risk/reward benefits of EVERY trade, not just major ones. You should aim to make at least two times the value of the risk in most trades, because this will help you when a trade fails for you and loses money, which will happen.

3. Failing to understand position sizing

Placing a wider stop loss on a trade does not necessarily mean you should risk more cash in order to maximize potential profits, or, conversely, that if you place a smaller stop loss on a trade that you should risk less. Traders commonly adjust stop losses in order to hit the number of lots they’re aiming to trade, rather than adjusting position size in order to hit the most reasonable stop loss distance. Don’t fall in to this trap.

4. Lacking a trading plan

Let’s put one common misconception to bed right away -- you do need a trading plan, no matter how little you plan to trade. Forex trading is a business, so you need a business plan. Without goals and time lines you might fall victim to a whimsical move, and that’s where major mistakes can occur.

5. Eschewing measured trading for gambling

The sooner you can avoid “taking a shot” or “just seeing what happens” the sooner you’ll start making money in the Forex market. Gambling on long shots or not having a goal with a purchase will come back to haunt you, so before you make a trade, ask yourself if you’ve thought everything out or if you’re just spinning the roulette wheel.

6. Letting emotions get the best of you

This is perhaps the most obvious error and the toughest to control. If you make a rash decision, it’s likely you’ll get a rash result. Like in anything, breaks can help, so when you get the chance to refocus and step away from the market after a bad break or poor decision, do it. Your bottom line will thank you later.

7. Forgetting to be patient

Patience is not a virtue, it’s necessary to survive. This is true both in life and in Forex trading. Many new traders start with the Forex market because they think they’ll instantly become rich and never have to work another day in their lives. Form a long-term strategy and give it time to develop and maybe that retirement dream will come true some day, just not in the first week.

8. Trading with overly short time frames

Daily and 4-hour charts are great. Use them, and don’t get too caught up in trying to make moves based on a 15-minute cycle. The shorter the time frame the more luck will rear its head, so remember that filtering out some of the noise of a short cycle by looking slightly longer will help enable you to spot trends instead of missing them in the heat of the moment.

9. Trying to do too much

Over-trading can sap your credit line and your brain. Remember that not every move will make you money, so it’s important to focus on the moves you make rather than spread yourself too thin. Demo trading is a great way to figure out what strategies work for you and how to find the right balance between being aggressive and not exceeding your abilities by making too many trades. Remember, trading less often produces more profit.

10. Forgetting to take profits

Hope can cloud judgment and empty bank vaults. Don’t be pessimistic, but when you have a profit sitting at your fingertips, take it. Not accepting profits often results in perpetual attempts to get even. When money is waiting for you to grab it, it’s also quite capable of flying away. Remember that making money, even if it’s not millions, is always good. Aim for profits of about 2 or 3 times your risk and you should come out on top.


Wednesday, February 13, 2013

Bottom-line is this


The value of anything is defined by supply and demand.
You don’t need to be a Major in economics to understand this. Money is just an idea.
Remember the desert island example? The true measurement of money is not the cents
or dollars it represents.
If you have developed a product that people want, would they pay more to you than
usual? Would you apply your skills in creating good assets?
Bottom-line is this:
Invest in assets that bring long term value. Anything that brings you more income is an
asset. Don’t invest too much in liabilities like cars or boats.
Even houses are not considered assets until they are fully paid off (If you lost your job
tomorrow and you can’t pay for your house, is your house an asset or liability?)
Are you willing to step out of your comfort zone and pay the price for financial IQ
or ignore the signs of the times and expect your boss, the government and the
bank to take care of you financially for the rest of your life, living below your
means and never taking risks to better your family’s future?

Invest in Yourself


Your parents will only invest in your education only until you leave college. But that is
just the basic necessities provided and does not teach you important lessons about
financial education.
Would you depend on colleges or universities to teach you how to make money? Most
colleges only teach you skills so you can earn money working for other people. How
about business school? Honestly, if business lecturers are such experts at business,
why are they still lecturing there instead of making a fortune in business ventures?
Would your boss teach you how to succeed in business so that one day, you will be in
his position?
You and only you have to be proactive enough to take that responsibility
You see, when you invest in yourself, it means taking on the importance of educating
yourself. Education not in the academic or technical sense, though they are necessary
skills to be developed in life. Our education doesn’t stop at college.
For most working adults, their education enters retardation stage after they leave
college. They stop learning and therefore they stop growing. They only grow sideways
from eating too much pizzas or take-out during their busy lunch breaks.
We know that IQ is important right? But why aren’t the most intelligent people in the
world the richest people in the world? There are many accountants and financial
planners rushing to their cars every evening trying to beat the after work traffic
congestions! They are not rich!
How about EQ or Emotional quotient? Do working hard, having a great attitude and a
positive mindset solve our financial situation? These are important when running a
business, but let me illustrate:
If you are driving from Boston to New York using the wrong road map, you won’t get to
our destination no matter how fast you drive your car (working hard)! You can work
harder, but you would only get to the wrong destination faster! You may have the best
attitude in the world or the most positive mindset, but you still won’t get to New York
(although the journey wouldn’t bother you since you are feeling positive about it)

What Does Investing Mean To People?


What Does Investing Mean To People?
What comes in to your mind when you mention the word investing?
Does it mean, putting your money in insurance, mutual funds, the stock market or even
high-yield investments?
Other people might only think about investing when they are about to die and they
haven’t left anything for their offspring.
Some even shiver when they hear the word, often claiming that they have no money to
invest or feel that is too complicated a subject to even discuss about.
Many people even invest heavily in health supplements, personal trainers and
beauticians to make themselves live longer, healthier or even look younger! Imagine the
advertising budget for beauty companies nowadays.
All these are legitimate concerns when it comes to investing, but I am talking about the
most important investment a person can make in his lifetime.
Invest in Yourself
The most important and No.1 rule is “Invest in Yourself” – if you don’t, who else
will?

Ways of Making Money


If you are a professional, have you ever explored writing an e-book about your field of
expertise? If well written, it could provide a new income stream, instead of you selling
out your time serving your clients.
How about a computer programmer? You can come out with your own revolutionary
product instead of selling your ideas to the company you work for.
How about real estate, instead of selling houses, you can pool financial sources to buy
houses cheap, increase their value and sell them off at a higher price. It just takes a little
time and research to find good ideas.
Is money a problem? Seek out loans if you can take the risk. Pool money from many
investors or seek a grant. The sky is the limit when it comes to making money.
Again, which way do you want to achieve wealth? Answer: it's totally up to you

Ways of Making Money


It is not that easy. Many lack the perseverance, the creative mindset, the financial
capabilities or the necessary people to get the job done and usually give up too early
before any results can be seen! The fastest way to get those skills to succeed is to learn
them hands on and you even get paid in the process! Don’t get absorbed with how much
you are paid.
When Donald Trump was selecting candidates in The Apprentice, their first task was to
go to the streets and sell lemonade! Many would find it a degrading task. But to The
Donald, it was very important: If you can’t even do something as simple as sell
lemonade, how on earth can you handle a daunting task like running the Trump Empire?
Again, let me emphasize:
Would you trade time for short term money? (Money stops coming in when you stop)
Or
Trade time and money for a long term asset that generates you income? (Even long
after you have stopped)
God created us with a brain. All we need to do is look around us and observe problems
to overcome because every problem is an opportunity in disguise.
It is all up to you. You may or may not see the results in the short term, but by using our
brains and the resources around us, we can create true value that others are willing to
pay for what we have to offer.
3 Ways of Making Money
Let me summarize the 3 Ways of Making Money
• Trading Time For Money - employees, self-employed
• Manifesting & Using Creative Ideas - inventors, artists, programmers
• Leveraging on resources and other people - business people, leaders

explore the other group


increases. The greater your salary, the weaker your position because if your boss is
paying you a 5 figure income and calls for an emergency meeting, you had better rush
over to the office even if you are halfway making love to your wife!
I think the best definition of an employee/boss relationship can be summed up as this.
An employee will only do the bare minimum to keep the boss from firing them and
a boss will only pay the bare minimum to keep an employee from leaving.
Now let’s explore the other group.
There are many creative people, inventors, entrepreneurs, and business leaders who fall
into this category.
An entrepreneur is someone who always has good ideas.
The first obstacle we need to overcome if we want to succeed in the second group is to
stop working for money. What does this mean? Isn’t making money part and parcel of
having good financial IQ?
What I mean by ‘stop working for money’ is not working for free. Rather, it means work
so as to gain the necessary skills you need to be a successful entrepreneur (or inventor,
investor). Allow me to illustrate:
If you lack the contacts for running a business, where would the best place be to look for
contacts? Of course, your competitor’s customers.
How about product knowledge? Then work with a company that will teach you all the ins
and outs of the tricks of the trade.
Not familiar with the production line of a factory? Work in one! Learn the ropes or
manage the factory workers.
Fear of talking to people? Get a sales job where you will be forced to talk to lots of
people. It is also a great way to develop perseverance!
Don’t you know that the best education you can get is in real life! Not at a lecture hall.
The bottom-line is: not everybody has what it takes to succeed as an entrepreneur!

Got time and lots of money


(4) Got time, and lots of money.
It is the category that big business owners, landlords, investors are in. Imagine,
not having to work for money, but having money to work for you by investing
them and earning profits by using your money to make money.
Short Quiz
1. Which one of the four categories are you currently in?
2. Which one category do you desire to be in tomorrow?
Enhance Your Financial Intelligence - 10 -
Chapter #2:
Ways To Achieve Wealth
2 Wealth Building Models
Everyone wants to make more money, but people are generally split into two categories:
Those who bring results after they are promised wealth first
Or
Those who bring the results first, then are rewarded by others afterwards
Let’s explore the two groups in depth.
Those who only move their butts after promised big fat paychecks are more like
employees, freshmen, or mercenaries.
There is no right or no wrong with this kind of thinking, but consider: you are once again,
trading your precious time for money. Instead of investing your time in an ASSET that
generates money, you spend your time working on something that is short term, limited
wealth, and does not give you income long after you have stopped working.
Consider also, that this kind of short term vision will only produce limited or temporary
results at best. Ever seen a security guard asleep at work when the boss is not around?
Furthermore, the part where our emotions get the better of us is when we allow our lives
to be run by chasing the dollar. It is evident whenever an employee is offered a higher
salary, more medical benefits and longer vacations, that their heart starts pumping
faster.
A higher salary doesn’t mean less financial problems. On the contrary when your income
goes up, your commitments, your tax bracket and your time spent in your company

Definitely doesn’t paint


Definitely doesn’t paint a nice financial and lifestyle picture, huh?
The first step to change is to be aware of the problem. Awareness before change (or
ABC for short) is necessary if you are to make any changes in life to start taking control
of your financial life and then get out of the rat race.
We need the awareness to know what state we are in so we know where we are going.
For starters, indulge me in a quick exercise as we exit this chapter shortly:
Time And Money
There are generally 4 types of people in the world:
(1) No time, and no money.
Most employees fall into the category. You can’t go shopping on a Tuesday
afternoon or fire your boss whenever you like. Most employees can’t even save
money in their pension to last 3 years!
(2) No time, lots of money.
Self-employed, professionals and small business owners are in this category.
They are slightly better off than the employee because they earn more, but they
have to work even harder than employees to keep up with the diminishing profit
margins, competition and servicing their customers.
(3) Got time, no money.
A lot of farmers, villagers, college dropouts or bums have lots of time but no
money. Maybe ignorance is bliss, but without a stable source of income, how
long can you last many days forward?
(4) Got time, and lots of money.

Money is an idea


Money is an idea, backed by confidence.
While money has naturally been developed by merchants in the older days to replace
the questionable barter system, money today is literally invented by the rich and wealthy.
Entrepreneurs are willing to part with their money to buy other people’s time. Other
people’s time i.e. employees and self-employed people becomes their employer’s asset
and the employers this priceless resource to go on to create more wealth for
themselves.
And here’s the thing: as long as you work for money, you are enslaved by it! 80% -
90% of the populations today are being enslaved involuntarily.
What we don’t realize is that there is a part of our soul that cannot be bought at whatever
price. Would you chop off your little finger if your boss offered you 24 months of your
salary immediately? You and I know we are worth more than that. But when you hear of
cases of people selling their body parts for cash in some countries, we can have our
eyeballs pop out of our eye sockets.
On the other hand, we occasionally DO sell out a part of ourselves for money like a
donkey and a carrot.
Awareness Before Change
Now don’t get me wrong: I’m not banging on working at a job (I worked at one before I
became an Internet Entrepreneur).
But let’s face it: our needs today are growing more than ever before in any period of
history. Prices go up, salaries don’t. There are more baby boomers than ever and have
very little pension to show for their decades of years of work efforts.
And there is no guessing to how many people really, really hate the unhealthy, hectic
lifestyle of getting up early, coping with stress for most parts of the day, join traffic jams,
spend more money and time in traveling, enjoy very little rest, and repeat the viscous
cycle.

What Is Money


So isn’t it time you take your finances a tad more seriously?
What Is Money?
You see, there are many ideas of what people think money is.
Some say it is a form of measurement.
Yes, but a measurement of what? Wealth? In the olden days, people measured wealth
by how many cows, sheep and horses they had. But do people measure wealth today by
your cows and horses? How about slaves? Was there a time where manpower is
considered a hot commodity? Are slaves worth anything today? Are your dollar bills
sitting in the bank going to protect you if a recession strikes the country? No, wealth can
not be measured by the dollar bill.
Some say it is a form of power.
Yes, money can give you power, but if you are stuck on a desert island forever with a
trillion dollars, will that money mean squat to you? If someone offered you water and a
helicopter to fly out of there, you would trade all your money in a split second, so money
is not an accurate measurement of power – it heavily depends on how and wisely you
use it (hint!).
Many believe it is the root of all evil… and several others take on this belief
without much questioning.
Now, now, now… money is NOT the root of all evil (otherwise, why do you think
churches still accept monetary donation and charity?). The love of money is the root of
all evil. Remember, money is an excellent servant but a terrible master. If you are trading
your life away for the dollar, money then has power over your time and life.
And unless you have proper financial intelligence, the lack of money can spawn a lot of
evil thinking and negative mindset as observed in primarily cheats, thieves, criminals,
breakups, freeloaders, cheapskates, and more to name.
But what is money, really?

Financial Intelligence


Foundation in Financial Intelligence
Definition Of Insanity
Naturally, most if not all of us want and crave for something better. It is all part of us if we
want a bigger car, a better house, buying good things for the family. We keep hoping for
more but, in order to get what you don’t have, you have got to do something you have
never done before.
That simply means:
Doing the same thing over and over again YET expecting different results!
As an employee, you can’t stay at the same job forever and hope that a miracle will
happen and your boss will suddenly give you a raise. You will be lucky that there is no
downsizing in your company. Switching to another company will only provide a short
term solution to a long term problem.
Sure, you can take up a second or even third job, but do you have enough hours and
stamina in a day to sustain it?
The bottom-line: Trading time for money isn’t wise financial sense in the long term. You
keep on increasing the hours just to win the rat race, but in the end of the day, you are
still a rat on the mill!
Increasing your wages only puts you in a higher tax bracket. Your salaries increase but
so does your expenses on your house and car. How will you invest in yourself when all
the time you spend working for a company, working for the government paying taxes
and working for the bank paying off your house and car? What if you fall sick and can’t
work tomorrow? Will the government take care of your family?
I highly doubt so.

Disclaimer



Disclaimer
(Risk warning)
We would like to kindly inform the reader of the potential financial risks of engaging in foreign exchange trading. The transaction of such financial instruments known as forex, fx, or currency, and dealt on a valued basis known as 'spot' (or 'forward', 'day trading', 'option', and similar instruments) can contain a substantial degree of risk.
Before deciding to undertake such transactions with a Forex trading platform or with any other market maker), and indeed, any other firm offering similar services, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions. Trading foreign exchange may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital.
The definition of risk capital is funds that are not necessary to the survival or well being of the user. We strongly recommends that a user, who is considering trading foreign exchange products, reads through all the main topics contained in the trading platform’s website so that he/she may obtain a clear and accurate understanding of the risks inherent to fx trading. Opinions and analysis on potential expected market movements contained within such websites are not to be considered necessarily precise or timely, and due to the public nature of the Internet, trading platforms cannot at any time guarantee the accuracy of such information.
Trading online, no matter how convenient or efficient it may be, does not necessarily reduce the risks associated with foreign exchange trading. Such platforms do not accept any responsibility towards any customer, member or third party, acting on such information contained on their website as to the accuracy or delay of information such as quotations, news, and charts derived from quotations.
You are strongly advised to engage in Forex trading only if you fully understand the risks involved, and are willing and prepared to allocate the appropriate funds, which are not essential or vital for your well being.

Forex Glossary

Forex Glossary
The following offers brief explanation of the most popular terms used in the market today.
 

Easy-Forex


A good rule of thumb is: In a bull market, be long or neutral - in a bear market, be short or neutral. If you forget this rule and trade against the trend, you will usually cause yourself worries, and frequently, losses.
Never add to a losing position. On the Easy-Forex™ platform, traders can change their trade orders as many times as they wish free of charge, either as a Stop-Loss or as a Take-Profit. The trader can also close the trade manually without a Stop-Loss or Take-Profit order being hit. Many successful traders update their Stop-Loss price in their “live” positions beyond the rate at which they made the trade, so that the worst that can happen is that they get stopped out and still make a profit.

Avoiding/reducing risk when trading Forex:


There is significant risk in any foreign exchange deal. Any transaction involving currencies involves risks, including, but not limited to, the potential for changing political and/or economic conditions, that may substantially affect the price or liquidity of a currency.
Moreover, the leveraged nature of Forex trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of your initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin call within the time prescribed, your position will be liquidated and you will be responsible for any resulting losses. “Stop-Loss” or “Take-Profit” order strategies may lower an investor's exposure to risk.
Easy-Forex™ foreign exchange technology links around-the-clock to the world's foreign currency exchange trading floors to get the lowest foreign currency rates and to take every opportunity to make or settle a transaction.
Avoiding/reducing risk when trading Forex:
Trade like a technical analyst does. For the best possible results, understanding the fundamentals behind an investment also requires understanding the technical analysis method. When your fundamental and technical signals point in the same direction, you have a good chance of having a successful trade, especially with good money management skills. Use simple support and resistance technical analysis, Fibonacci Retracing and reversal days.
• Be disciplined;
• Create a position and understand your reasons for having that position;
• Establish Stop-Loss and Take-Profit levels.
Discipline includes hitting your stops and not following the temptation to stay with a losing position that has gone through your Stop-Loss level.

Where should I place my Stop-Loss and Take-Profit orders?
As a general rule of thumb, traders should set Stop-Loss orders closer to the opening price than Take-Profit orders. If this rule is followed, a trader needs to be right less than 50% of the time to be profitable. For example, a trader who uses 30 pip Stop-Loss and 100-pip Take-Profit orders, needs to be right only one-third of the time to make a profit. Where traders place Stop-Loss and Take-Profit orders will depend on how risk-averse they are. Stop-Loss orders should not be so tight that normal market volatility triggers the order. Similarly, Take-Profit orders should reflect a realistic expectation of gains based on the market's trading activity and the length of time one wants to hold the position. When initially setting up a trade, it is prudent to look to change the Stop-Loss and set it at a rate in the “middle ground” where you are not overexposed to the trade, and at the same time, are not too close to the market.
Trading foreign currencies is a demanding and potentially profitable opportunity for trained and experienced investors. However, before deciding to participate in the Forex market, you should soberly reflect on the desired result of your investment and your level of experience.

Control risk


currency pair, the system will only allow you to place a limit order below the current market price, because this is the profit zone. Similarly, if you are long (bought) the currency pair, the system will only allow you to place a limit order above the current market price. Take-Profit orders help create a disciplined trading methodology and make it possible for traders to walk away from the computer without continuously monitoring the market.
Control risk by capping losses
Stop-Loss orders allow traders to set an exit point for a losing trade. If you are short a currency pair, the Stop-Loss order should be placed above the current market price. If you are long the currency pair, the Stop-Loss order should be placed below the current market price. Stop-Loss orders help traders control risk by capping losses. Stop-Loss orders are counter-intuitive because you do not want them to be hit; however, you will be happy that you placed them.

Forex risk


Forex risk management strategies
The Forex market behaves differently from other markets. The speed, volatility, and enormous size of the Forex market are unlike anything else in the financial world. Beware: the Forex market cannot be controlled - no single event, individual, or factor rules it. As such, it is the closest market to what economists call “a perfect market”! However, just like any other speculative business, increased risk entails chances for a higher profits as well as higher losses.
Currency markets are highly speculative and volatile in nature.
Any currency can become very expensive or very cheap in relation to any or all other currencies in a matter of days, hours, or sometimes, in minutes. The unpredictable nature of currencies is what attracts an investor to trade and invest in this market.
Truly ask yourself: "How much am I ready to lose?"
When you terminated, closed or exited your position, had you understood the risks and taken steps to avoid them?
Some foreign exchange risk management issues
The following may come up in your day-to-day foreign exchange transactions.
• Unexpected corrections in currency exchange rates
• Wild variations in foreign exchange rates
• Volatile markets offering profit opportunities
• Lost payments
• Delayed confirmation of payments and receivables
• Divergence between bank drafts received and the contract price
These are issues every trader should cover, both before and during a trade.
Exit the Forex market at profit targets
Limit orders, also known as Take-Profit orders, allow Forex traders to exit the Forex market at pre-determined profit targets. If you are short (sold) a

Forex™ Trading Platform offers:


practical, visual, hands-on training. Plus, it allows the new traders to develop an understanding of basic trading techniques, risk control, and the opening and management of a live trading account.
Whether you are an investor who wants to learn Day-Trading for the first time, or a day trader with stock market or futures trading experience, who wants to give Forex trading a try, take the first steps with Easy-Forex™. Go through the basics of the Forex market, experience real time training with real time trading, take the Guided Tour and then trade. Our training gives new and experienced traders alike all the necessary tools to start buying and selling currencies in the foreign exchange market.
Make use of what the Easy-Forex™ Trading Platform offers:
• 24-hr commission-free trading in 14+ currency pairs;
• Web-based trading platform requires no download or installation;
• Guaranteed fills on stops and limits up to USD 2,000,000;
• Free access to charting, news, and research;
• 24-hour customer support via phone and web site;
• Deposits accepted in multiple currencies;
• Credit card, PayPal and Western-Union deposit facilities;
• Straightforward withdrawal procedures.
Don't attempt to trade until you receive the training needed to become a successful trader. There are substantial earnings to be made in the foreign currency market, but trading in Forex is for the well-informed.
Easy-Forex™ offers you a first-rate Forex trading platform and an unmatched degree of service. Obviously, our experts are real people in real offices and dealing rooms, ready to assist.
Real-time dealers available 24x7
Trading foreign exchange is exciting and potentially very profitable, but there are also significant risk factors. It is crucial that you fully understand the implications of margin trading and the particular hazards and opportunities that foreign exchange trading offers. However, if you are ever in doubt about any aspects of a trade, you can always discuss the matter in-depth with one of our dealers. They are available 24 hours a day.

Learning Forex trading:


Learn at your own pace
Learn at your own pace, and learn from the experiences of others, who can provide insight, analyses and information, and can help you steer clear of the hazards novices sometimes encounter. Read (and participate in) Forex forums and reviews which are available in many places on the net.
Now is the time to expand your trading knowledge. Currency markets differ from other trading markets due to time zone liquidity, specific currency-related issues, central bank activity, real and nominal interest rate differentials and more. This is the time to learn to understand these factors.
Learning Forex trading:
Topics you should be familiar with:
• Evaluation of currency trades;
• Developing a market view;
• Using trend analysis indicators;
• Reading and understanding Forex charts;
• Pinpointing advanced support and resistance levels;
• Assessing trading signals;
• Identifying market tops and bottoms;
• Setting price objectives for winning trades;
• Handling Stop-Loss and Take-Profit limits.
Hands-on Forex training
Easy-Forex™ hands-on trading means immediate access to proven trading techniques you can use to increase profits. Whether you are a short-term, breakout, range or position trader, Easy-Forex™ experts can help you learn trading techniques that can maximize your ability to identify low-risk/high-probability trades. Our training is appropriate for a wide range of Forex traders, from individuals just starting in the spot currency market, to experienced professionals.
Like anything in life, you don't really understand it until you jump into it. Get started on Easy-Forex™, risking as little as USD 25 per trade. Take the Guided Tour through the training material while you are entering and watching your first trades - because there's nothing quite like trading while you learn. This is

Tips for every Forex trader


At Easy-Forex™, we believe that proper training is essential to achieving trading success. Without the appropriate preparation and expertise, a trader's chances of succeeding are substantially reduced. Our free Forex training was created to teach our clients a strategy to day-trade currencies. Traders that use a strategy, or system to trade, tremendously increase their probability of success as Forex traders. Easy-Forex™ offers the following Forex Training resources:
• This book as well as other Easy-Forex™ books;
• A Guided Tour on the Easy-Forex™ website;
• Information (“Info-Center”) on the Easy-Forex™ website;
• Technical analysis;
• Fundamental analysis;
• Access to charts, news, outlooks and research, once a trader has registered with the system;
• Free, live 1-on-1 training online;
• And finally, you can start trading – and learning – for as little as USD 25. This is your best actual training, and we recommend you view it as such, “playing small” while you learn the market step-by-step.
Easy-Forex™ not only advises you to start with a small amount of money, but makes the first step easy for you. However, before you start:
• Carefully read the Terms and Conditions
• We strongly advise that you read the Disclaimers and the Risk Warning
• Remember: Forex is a risky business!
It should not take more that a few trades to familiarize yourself with the Easy-Forex™ Trading Platform. Ideally, you will start by making a few smaller trades in order to become familiar with the market and the platform. Only then should you consider making larger trades.

Monday, February 11, 2013

Easy-Forex™


Easy-Forex™ guarantees your exact Stop-Loss rate by using the latest technologies. We are committed to the principle that you will never lose more than the margin risked by the Stop-Loss rate you choose.
The same principle holds true for any Take-Profit rate you set: your deal will close automatically on the exact Take-Profit rate you define.
Needless to say, you can change both Stop-Loss and Take-Profit rates at any time while a deal remains open.
It is highly important that you know that, due to the nature of the forex global market, 100% guarantee to pre-set rates is impossible. Such may occur under highly volatile market conditions, where other parties to the Forex trade (e.g. – the trader, the platform, the liquidity provider, etc.) are unable to execute specific rates, or specific rate range, due to conditions that are beyond their control.
Simply put: Easy-Forex™ makes any and all efforts to guarantee the rates, when it is able to doing so, unless market conditions prevent delivering the rate selected.
No software download
Is the internet platform friendly and easy to use? Do I need to download any software? Can I begin trading immediately, and am I restricted to a specific computer terminal?
Easy-Forex™ Trading Platform was the first, and may be the only, Forex platform that enables users to start trading immediately.
With no software to download, you can log into your account and trade anytime, from anywhere.
Instant deposit with a credit card
Am I bound to wait for banking hours, or can I deposit trading margins with my credit card? Will I miss an opportunity if I decide to change the margins in the middle of the night? When I profit, can I withdraw the profits to my credit card account?
Easy-Forex™ was the first, and may be the only, Forex platform that allows you to fund your account with your credit card (or PayPal, or Western Union, and others), so you can start trading immediately, regardless of banking work days or hours. Easy-Forex™ cares about protecting your credit card security and your privacy to the highest standard. To achieve that, we use the latest technologies and comply with all relevant regulations.

Twenty issues you must consider


When choosing a Forex broker or platform, there are many different considerations to think about, and a lot of questions to ask each of them. Those raised in this chapter are presented as a guide you should use in your search for the right broker or platform for you. Please note that some of the answers below refer to the terms offered by the Easy-Forex™ Trading Platform.
We believe that a skilled and well informed trader is a better trader, for both the trading platforms and the individual traders.
Personal account management
Is anybody there? Are there real people behind the phone (or the e-mail box)? Do I have a one-on-one relationship with an individual who knows my account and is able to provide continuity of service online?
Expert Easy-Forex™ team members are available to you at all times, anytime. Moreover, you have your own Account Service Manager working closely with you, while dealing room services are offered to you by expert Forex dealers. You may speak with us by phone, by e-mail, or over the advanced online CHAT system that we operate. Depending on your location, you can also visit an Easy-Forex™ regional office to meet in person. Yes, it's internet, but we are real, and we take it personally.
Live training and one-on-one help
Do they offer professional assistance and tools?
Easy-Forex™ offers background information for the Forex market, a Guided-Tour, seminars, one-on-one training, CHAT, telephone support, as well as other assistance tools, including technical support. You are never left alone to trade without help, whenever you want it. Moreover, your personal Account Service Manager will guide you live on your first trading steps, to help you get acquainted with the Easy-Forex™ system, and will answer all of your technical questions.
Guaranteed Rates and Stop-Loss
Is it “around” or “near” the rate I set, or exactly on it?

Limit Orders (reserving a Day-Trading deal)


Limit Orders (reserving a Day-Trading deal)
Some dealing rooms and platforms offer the trader the ability to set a "reserved" rate for a deal, that would "capture", if and when such a rate occurs in the market, resulting in a Day-Trading deal.
The trader can define the rate he/she wishes, letting the platform do the watching, until (if and when), it appears in the market. Easy-Forex™ does not charge additional fees for Limit Orders. Setting up a Limit Order is very similar to the process described above for Day-Trading. Should the reserved deal not be realized, the funds which were allocated for it will be returned to the trader's account.

forex


With online platforms, traders have 24x7 access in order to monitor open positions, to close positions, or change parameters (definitions) in the deal.
ID: The reference number of the deal, as recorded in the platform.
Open date: The day the deal was opened by the trader.
Buy: The volume of the currency “bought”.
Sell: The volume of the currency “sold”.
Rolling until: The last day to which the deal will be automatically renewed.
Rate: The exchange rate of the currency pair in the deal.
Stop-Loss rate: The rate defined for automatic “stop-loss” of the deal. The deal will close if this rate occurs in the market during the time the deal is active.
Take-Profit rate: (Not defined in this example). This is the rate at which the deal will close automatically assuming the market moves in the direction forecast by the trader. When defined, this rate allows a trader to take profit automatically when a set rate is achieved, thus allowing the trader to focus on other tasks rather than watching the market closely.
Margin: The amount invested by the trader for the deal. This is the maximum amount the trader can lose.
version: September 2006 / 58 of 111
Last rate: The last known rate (it is the current rate at the time the trader is viewing the screen).
Current Profit/Loss: The status of the trader’s position. This will be the profit (or the loss) from this deal, if it was closed at this very second.
Check closing value: Pressing this key will calculate and present the status of all of the trader’s open Day-Trading deals (total profit or loss). This is the place for the trader to manually close a position, before it reaches Stop-Loss or Take-Profit.
Change Stop-Loss: The trader is allowed to change his Stop-Loss, at any time while the deal is still active. As previously mentioned, doing so would affect the amount of margin needed for the deal. If the trader changes the Stop-Loss downward (in a case where the position is losing, and is now near the automatic closing), then additional funds will be required for margin. If the trader changes the Stop-Loss upward (in a case where the deal will already see a profit, and the trader wishes to define a higher Stop-Loss to decrease the original risk), then the difference will be credited.
Change Take-Profit: Similarly, the trader is allowed to define, or change, a Take-Profit rate. Note that unlike a Stop-Loss rate, the trader does not have to define any Take-Profit rate; it simply allows the trader to focus on tasks other than rate-watching.
Scenario: The trader can key in various hypothetical exchange rates to see their impact on their overall position (amount of profit or loss), if and when such rates occur in the market.
Step (4): Closing the deal manually
Using the deal defined in the screen shot above, the deal definitions are: Buy USD; sell EUR; EUR10,000; Deal rate 1.1952; Stop-Loss 1.2052; no Take-Profit defined; margin USD 100.

Day Trading on a Forex platform


Step (1): Deciding to perform a Forex deal
You have an intention to trade Forex, and you have your own reasoning for doing so – e.g. you feel that the USD will increase compared with the EUR. The EUR/USD exchange rate is, at the time, around 1.2000 (the common presentation of the Euro-US$ pair is EUR/USD, meaning 1.2000 US dollars for 1 Euro). Your feeling can be based on your experience, or on technical analysis, or fundamental analysis, etc. For whatever reason, you believe that the USD will rise to around 1.1850 (EUR will be down, which means USD will go up). You want to profit if your forecast is correct, and so choose to make a trade.
Step (2): Determining the deal
Below is a screen-shot of a Day-Trading deal in the making and an explanation of each step required to put the trade into effect:
Select currencies: Select the currencies in the Forex pair. There is no connection between your “base working currency” (or “account base
version: September 2006 / 56 of 111
currency”, the currency in which you handle your Forex account and make deposits and withdrawals) and the currencies in the pair you select. In this example you selected “BUY USD” because you feel it is low in terms of Euro, and it will increase in the near future. Once it increases to the level you anticipate, you will close the deal, and get more EUR for the USD you previously “bought” - hence, you make profit.
Select the amount: Since Forex trading is “non-delivery” trading (i.e. – no physical currencies are transacted), the Forex deal (contract) has a “volume”, or “size”, meaning the amount of the currencies in this contract. You determine the volume of the contract, but you do not have to purchase the whole amount. In general, you work in the most common leverage (see below), 1:100: therefore a deal of 10,000 Euro will require much less money to facilitate it.
Select the amount to risk: This is your investment. This is the amount you risk, meaning the MAXIMUM amount you can lose. On a 1:100 leverage, EUR 10,000 against USD thus requires only USD 100 (in fact, the actual leverage you are offered in this case is 1:120, since you “buy” EUR10,000 with USD 12,000 guaranteed using only USD 100 of your own money).
Stop-Loss rate: This is the currency exchange rate at which your deal would automatically close in the event the market ran counter to your forecast. In this event, you would lose your USD 100 investment. You can define another Stop-Loss rate, however, the “amount to risk” will change accordingly. There is a direct relationship between the Stop-Loss rate and the “Margin” (i.e the amount risked) required for the deal.
Freeze Rate: This feature is unique to the Easy-Forex™ Trading Platform. You see the rate for the deal and you are almost ready to accept it, but before you do, you need a few seconds to think. With the freeze rate feature you are allowed a few seconds more to either decline or accept the deal.
Accept: When you’re ready, click “Accept” and your deal is activated. You have enough money in your Forex account to make the deal, so it’s in play. You are holding now an “Open Position” in Forex.
Please note, “Renewal until…”: The Day-Trading deal resembles a “SPOT” transaction (but is not identical). The rates in the deal are the updated current rates (“spot”), and the deal may be closed anytime during the trading day. However, the trader can extend the deal to the following day (paying a small renewal fee). Most platforms offer an automatic renewal of the deal, for a few days period. The trader may close the position at any time. If the trader closes the deal before the indicated closing time (usually it is 22:00 GMT), no renewal fee will be charged.
Step (3): Checking account status
Below is a screen-shot of a typical “My Position” report:


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Gas saving tips


Gas saving tips
The price of gasoline is on the rise. This is truly a great
concern if you are following a tight budget. So how can you
save some money on gas? Read these tips.
The carpool system
This is a great idea for employees and students alike. Since all
of you will have the same destination, there is no need to
bring extra vehicles if you can all fit in one car or van. If you
are with your co-workers, it is a good idea to bring your cars
alternately or on rotation. If you have children that you bring
to school or social events, exchange driving responsibilities
with your friends.
Commute to work
You can always take the public transportation system when going to the office. This is also
a good way to relax since you are not driving. You can even take a short nap while on your
way.
Look at the prices of different gas stations
Take time to drive around and check the pump prices of the gas stations near your
neighborhood. Keep in mind that a few cents difference can add up to a lot if you
continually have your car re-filled in the same gas station all the time.
Shed some sweat
A good way to save money on gas and keep yourself healthy at the same time is by
walking or riding a bike to your destination. It saves time since you do not have to look for
parking and also makes you healthier from the exercise. Utilizing these alternatives will
also keep you from getting stuck in traffic which will surely waste a lot of your time and
gas.
Keep your car in very good condition
It is necessary to keep your car's engine in good running condition so that it will not
consume a lot of fuel. When driving around on errands, plan out your route before you
even get out of the house. This will minimize your trips going back and forth. If is also ideal
to use the aircon as minimal as possible since it drastically increases the car's fuel
consumption.
Check your car's tire pressure
Keep it a habit to check your car's tires so each one has the right amount of pressure.
Having unequal pressure can greatly affect the car's fuel economy. It is also advised for
you to refrain from accelerating too fast since this means burning a lot more fuel.
These are some of the things that you can do to save on gas. Gasoline is not a renewable
resource, therefore using it wisely is very important to conserve this valuable commodity.

A little goes a long wa


A little goes a long way: Smart secrets to budgeting
There’s nothing more we want than to be able to efficiently
manage our money. After all, the money that we want to
manage is money that is oftentimes, hard earned. This is
where a budget comes in. A budget executed properly, should
help you see where your money is going, get more utility out
of every buck, and help you save some extra for future use.
The first smart secret to a budget is to set a goal. What do you
want to achieve? Do you want to correctly appropriate your
income into bills payments? Do you want to put an amount
aside for a big purchase or a huge investment? By having a
goal, you will be able to shape your budget to best serve your
interests.
Secondly, you would want to take note of where your money
usually goes. This includes bills, major but regular purchases (like grocery costs, healthcare
costs, and the like), and everyday miscellaneous purchases. Only when you list down
where you know your money usually goes will you be able to identify which expenses you
can do without. Once you’ve identified these regular expenditures, take into consideration
what you can cut back on. How much do you spend on your daily caffeine fix in the
morning? How much do you spend on newspaper deliveries to your front door? The measly
$2 or $5 of these small purchases cumulatively translates to more than $3600 a year!
Instead of buying your expensive latte or reading the newspaper on print, put aside the
amount you would usually pay for these small routine purchases in a small container. You
will be surprised at how much you’re saving out of your older budget.
Being indebted is a vicious cycle on its own. You’re talking about continuous payments, not
to mention huge interest rates. The best way to deal with this is to pay the minimum on all
of your debts in order to avoid paying extraneous late fees. Whatever cash excesses you
may have, you can opt to add on to the payments you make in your biggest debt. This
way, you are concentrated on getting the biggest debts first that cost you the greatest
interest rates. Doing this progressively, you’ll be amazed at how much you’ll get off your
huge debts.
The last and most important step is to jot down the amount you earn the sum you spend.
You can make use of computer cash management programs, or make database sheets of
your own. Make a system that works for you and will help you keep track of your monthly
budgeting progress.

Credit Card Savings


Credit Card Savings
Having a credit card is very convenient since carrying a lot of
cash becomes unneccesary and you might even have a hard
time leaving your credit card at home. But with its advantages
comes also its disadvantages. Since you can always buy things
without carrying cash around, you are always tempted to buy
something that you come across. If you have excellent control
on your finances then good for you. If you have a hard time
managing your credit card, then these pointers can help you.
Get organized
First thing's first, obtain your credit card records to have a
better idea of your spendings. Be sure to double check the
records for errors and ensure its accuracy. A good example would be to find out if you have
outstanding debts that should not be there as well as the accuracy of the listing of your
former and present address.
Evaluate your credit card
Go over your recent credit card records and look at the interest rates. Some credit card
companies have promos wherein they offer lower interest rates for a period of time and
this promo may already be over yet you have no idea and are already paying at a higher
interest rate. Also take note of the membership fee which they charge annually since some
have very high membership fees. Consider cancelling this if you are not using it
frequently.
Pay on time
It is important to pay your bills on time since it can have a negative effect on your credit
record or rating. You will also be able to avoid getting charged because of not paying on
time. Try asking the credit card company to remove the overdue charge if you have
forgotten to pay it on time for the first time.
Manage your debts
If you see that you have more debt than what is comfortable, think ahead and plan out
how you will repay it or at least reduce your debt. Devise a way to pay more than what is
required of you so that you will have a reduced payment schedule. Prioritize the card that
has the highest interest rate. Do not bring your credit card always when you go around
since temptations abound.
Don't bite more than you can chew
As the saying "don't bite more than you can chew" goes, do not spend more than you can
afford. True, a beautiful gold bracelet may be enjoyable to wear but its price tag may mean
paying a lot for the next months. If you are bent to save money when using your credit
card, unnecessary items like jewelry and the like should be at the bottom of your
considerations.