Saturday, June 16, 2007
Learning Forex Currency Trading Online
There has never been a better time to learn Forex currency trading online. Although there are many Forex training materials available online there are very few that will actually produce measurable results for most people. In the Forex trading industry there are many different approaches and strategies being taught and used. A few people are having extraordinary results with consistent profit and today’s technology enables any Forex trading entrepreneur to have access to the knowledge that those traders are willing to share.
A good place to start learning for free is in a forum. However, it has been my experience that some of the most popular forex trading forums are inhabited by the most negative people in the industry. Anyone who even makes a slightly positive comment about Forex trading will be attacked by the obviously unhappy losers who resent the idea that it is possible for others to easily succeed. Most forums will actually damage your ability to succeed rather than help. That is why our Forex trading forum was formed with the intention of helping and encouraging only. Negative comments are simply deleted and users who consistently display negative attitude are permanently banned.
A Forex video training course is one of the most effective learning tools for enabling students to master the art of trading. As opposed to live seminars which are also more expensive, Forex training videos can be viewed at any convenient time and replayed again and again. There may be sections that warrant repeated viewing while other sections can be viewed briefly or skipped. The video format for learning has proven to be extremely effective for learning trading principles quickly.
Live web conferences are another amazing tool for aiding the process of learning Forex trading. In a live web conference or webinar participants can interact in real time hearing the presenter speak and seeing her screen while explaining or demonstrating Forex trading entry signals. The presenter can also pass the screen sharing feature to any participant so that he can ask questions about what he is seeing on his charts. This medium has accelerated the learning process tremendously for many Forex trading students. It is this kind of technology that makes learning Forex currency trading online a very enjoyable and effective process.
Learn Forex Currency Trading Online
A good place to start learning for free is in a forum. However, it has been my experience that some of the most popular forex trading forums are inhabited by the most negative people in the industry. Anyone who even makes a slightly positive comment about Forex trading will be attacked by the obviously unhappy losers who resent the idea that it is possible for others to easily succeed. Most forums will actually damage your ability to succeed rather than help. That is why our Forex trading forum was formed with the intention of helping and encouraging only. Negative comments are simply deleted and users who consistently display negative attitude are permanently banned.
A Forex video training course is one of the most effective learning tools for enabling students to master the art of trading. As opposed to live seminars which are also more expensive, Forex training videos can be viewed at any convenient time and replayed again and again. There may be sections that warrant repeated viewing while other sections can be viewed briefly or skipped. The video format for learning has proven to be extremely effective for learning trading principles quickly.
Live web conferences are another amazing tool for aiding the process of learning Forex trading. In a live web conference or webinar participants can interact in real time hearing the presenter speak and seeing her screen while explaining or demonstrating Forex trading entry signals. The presenter can also pass the screen sharing feature to any participant so that he can ask questions about what he is seeing on his charts. This medium has accelerated the learning process tremendously for many Forex trading students. It is this kind of technology that makes learning Forex currency trading online a very enjoyable and effective process.
Learn Forex Currency Trading Online
Wednesday, June 13, 2007
Enjoying the Forex Trading Lifestyle
When I first learned about the Forex trading business a few years ago, I was unable to sleep at night with all the wheels turning in my mind as I contemplated the possibilities for the type of life this business could offer. I kept asking the same questions of my friend who was currently trading Forex. “Do you mean that I can live anywhere in the world or even travel continually while I am trading?” “Yes”, was his simple answer.
As soon as I saw the possibilities, I was determined to master this arcane art and make it work no matter how difficult others were saying that it is to succeed. Within 2 years I had sold my house and all my investment property and moved from the rainy Seattle climate to the sunny Southwest. Because so many of my mentors recommended trading the London session I had considered moving to other parts of the world so that I could trade at a time other than through the night when my body prefers to sleep. But after perfecting the method that I currently use I am able to look at my charts for about 15 minutes twice a day, never miss a trade and get more profit than I possibly could have gotten staying up all night.
Right now I live in Santa Fe and sometimes travel locally on “personal retreats” to Taos and Sedona. After a year of living here I decided to move to Aspen Colorado and take up skiing. Later this year I am planning to tour Europe visiting France, Switzerland, Holland, and Belgium. Because I like to have warm temperatures year round I am looking at a second home in Tucson or perhaps a more tropical climate in the South Pacific.
I am enjoying more time volunteering for the philanthropic organizations that I am most interested in. There are many lifelong dreams that I never could have done before that now I am in the process of fulfilling. Right now I am in the beginning stage of forming a studio for producing computer animated music video DVD’s to communicate my artistic messages to the world. When I studied this subject in college I knew I would never be able to have this kind of artistic freedom unless I owned the studio that produced these projects and had the time and funding to make it happen. Without the stress of my previous business, the constant driving and the uncertainty of whether this month would provide enough income to live on, my health has improved and I feel fantastic. I feel good about my life and my contribution to the world. Every day, I feel tremendous gratitude for the Forex trading business which provides this kind of freedom to make decisions without regard for job or business geographical ties. What will Forex trading do to improve your life?
Online Forex Trading Videos
As soon as I saw the possibilities, I was determined to master this arcane art and make it work no matter how difficult others were saying that it is to succeed. Within 2 years I had sold my house and all my investment property and moved from the rainy Seattle climate to the sunny Southwest. Because so many of my mentors recommended trading the London session I had considered moving to other parts of the world so that I could trade at a time other than through the night when my body prefers to sleep. But after perfecting the method that I currently use I am able to look at my charts for about 15 minutes twice a day, never miss a trade and get more profit than I possibly could have gotten staying up all night.
Right now I live in Santa Fe and sometimes travel locally on “personal retreats” to Taos and Sedona. After a year of living here I decided to move to Aspen Colorado and take up skiing. Later this year I am planning to tour Europe visiting France, Switzerland, Holland, and Belgium. Because I like to have warm temperatures year round I am looking at a second home in Tucson or perhaps a more tropical climate in the South Pacific.
I am enjoying more time volunteering for the philanthropic organizations that I am most interested in. There are many lifelong dreams that I never could have done before that now I am in the process of fulfilling. Right now I am in the beginning stage of forming a studio for producing computer animated music video DVD’s to communicate my artistic messages to the world. When I studied this subject in college I knew I would never be able to have this kind of artistic freedom unless I owned the studio that produced these projects and had the time and funding to make it happen. Without the stress of my previous business, the constant driving and the uncertainty of whether this month would provide enough income to live on, my health has improved and I feel fantastic. I feel good about my life and my contribution to the world. Every day, I feel tremendous gratitude for the Forex trading business which provides this kind of freedom to make decisions without regard for job or business geographical ties. What will Forex trading do to improve your life?
Online Forex Trading Videos
Monday, May 28, 2007
Making a Living in Forex Trading
Often people ask me if it is really possible to make a living trading the Forex market. I would have to say that it is definitely not possible to merely make a living unless you have no idea of what simple trading money management is. If you are successful in Forex trading and you understand what money management is, you will not just make a living but will create wealth relatively quickly. So I often tell people that if you are looking for a job, you might want to try Wal Mart. I hear they are hiring part time employees.
A good tool that can help you to understand how this works is a calculator. They can be purchased at most local stores for as little as $5.00. Then you might want to open a Forex trading demo account and place a trade. Observe what happens to the digits that display the profit or loss and get an idea of what the value of a PIP is in your account. Then you can develop a purely hypothetical trading plan.
After you have learned a little about how Forex trading works you should start to get an idea of what is a realistic expectation for results in PIPS over a given period of time. Then decide what a prudent risk management plan would be. Some say no more than 2% of your capital is a good number. That number is of course, based on a false industry belief that it is not possible to have a high win to loss ratio in Forex trading. Regardless, it is a good conservative number. Then simply start off with a number that represents the amount of capital you plan to start with and project what would happen if you were successful with a realistic win to loss ratio. How many PIPS will you earn? Win to loss ratio is the number of winning trades vs. the number of losing ones. Risk to reward ratio represents the average number of PIPS per loss vs. the average number of PIPS per winning trade. What will your average net gain be per day or per month? What will that do to your capital?
The next step is to note the amount of money you need to meet your living expenses. When the amount of your monthly profits is at least twice as much as the amount you need to live, begin taking out 50% of your monthly profits. From that point on you will make a living AND your trading account will increase each month while the amount you take out will also increase every month from that point on. What could be better than that?
Learn Currency Trading
A good tool that can help you to understand how this works is a calculator. They can be purchased at most local stores for as little as $5.00. Then you might want to open a Forex trading demo account and place a trade. Observe what happens to the digits that display the profit or loss and get an idea of what the value of a PIP is in your account. Then you can develop a purely hypothetical trading plan.
After you have learned a little about how Forex trading works you should start to get an idea of what is a realistic expectation for results in PIPS over a given period of time. Then decide what a prudent risk management plan would be. Some say no more than 2% of your capital is a good number. That number is of course, based on a false industry belief that it is not possible to have a high win to loss ratio in Forex trading. Regardless, it is a good conservative number. Then simply start off with a number that represents the amount of capital you plan to start with and project what would happen if you were successful with a realistic win to loss ratio. How many PIPS will you earn? Win to loss ratio is the number of winning trades vs. the number of losing ones. Risk to reward ratio represents the average number of PIPS per loss vs. the average number of PIPS per winning trade. What will your average net gain be per day or per month? What will that do to your capital?
The next step is to note the amount of money you need to meet your living expenses. When the amount of your monthly profits is at least twice as much as the amount you need to live, begin taking out 50% of your monthly profits. From that point on you will make a living AND your trading account will increase each month while the amount you take out will also increase every month from that point on. What could be better than that?
Learn Currency Trading
Tuesday, May 22, 2007
Forex Trading Insights, Breakthroughs and AHAS!
Since most of the trading world is clearly barking up the wrong tree and chasing their tails getting nowhere, it is evident that in order to consistently win we need to see the market in a different way from the rest of the herd. I remember the first Forex training course that I took charged me $1000 for the beginner’s section and another $1000 for the advanced section. In the beginner’s course I was taught to open up a one minute chart and divide it up into three sections and if the price was in the bottom section I should buy and if it was in the top section I should sell. It didn’t take me long to ask the question, “If the market is trending won’t it breakthrough all these lines and keep on going for days? I guess the instructors were not prepared for this question since this method was based on the totally false assumption that the market always channels on a 1 minute time frame. I often illustrate how this method is much like buying a car and then painting over all the windows and windshield. Then cutting a hole in the floorboard and attempting to drive by looking through that hole. The fact is you just can’t see where you are going by looking through that hole.
Later I learned other methods including using pivot points with trend lines, MACD and candlestick patterns. It didn’t take me long to figure out that if the price approached a pivot point one of two things could happen. It could hesitate or stop or it could keep on going. And soon I realized that looking at these lines was completely irrelevant to the natural forces that could reveal what the market was really doing. Basing a trading decision on a daily pivot soon became a useless concept to me.
I also noticed that all the managed Forex funds and automated Forex trading systems published results that were quite unimpressive. Sometimes they would win, then there were large draw downs and losses and it seemed as if even professionals were pretty much guessing and were totally at the mercy of the market’s unpredictability. Meanwhile I could see that there were clear signals and patterns in the markets that seemed to indicate that there is a way to easily get profits consistently. But others were somehow not seeing this. For instance one of the first things I realized is that most trading methods work well in a trending market and then they produce losses during a choppy, corrective or sideways market. So I immediately came to a revolutionary conclusion that no one else seemed to be noticing. Why not only trade in trending markets and avoid trading in choppy markets? What would that do to the results over the long term? Uhhh… It doesn’t take an Einstein or a rocket scientist to come to this conclusion does it?
In my quest for more Forex trading knowledge I went on to immerse myself in Elliott Wave Theory and Fibonacci. I delved into some of the mysteries of Gann. I saw many people doing many different things and I saw very few people consistently winning. In fact many seasoned professional traders seemed quite negative and pessimistic about the whole trading business. Meanwhile I was harvesting large profits consistently using a fairly simple method and wondering why people thought this is so difficult and why success seemed to elude most people.
Eventually a few acquaintances kept asking me about what I was doing which ultimately led to my authoring a training program that covers all of the insights, breakthroughs and “AHA”S that I have had over several years. The important message is that anyone can consistently get outstanding results in Forex trading with a little motivation and the right approach. Having experienced the challenge and the frustration of trying to learn to master the art of trading in a world where finding what works can be a lifetime pursuit, I now derive a lot of satisfaction in seeing others who have been through the struggle to learn Forex trading suddenly having amazing breakthroughs as they develop a lifetime skill that will continue to create financial freedom for themselves and their families.
Scott Shubert
Learn Online Forex Trading
Later I learned other methods including using pivot points with trend lines, MACD and candlestick patterns. It didn’t take me long to figure out that if the price approached a pivot point one of two things could happen. It could hesitate or stop or it could keep on going. And soon I realized that looking at these lines was completely irrelevant to the natural forces that could reveal what the market was really doing. Basing a trading decision on a daily pivot soon became a useless concept to me.
I also noticed that all the managed Forex funds and automated Forex trading systems published results that were quite unimpressive. Sometimes they would win, then there were large draw downs and losses and it seemed as if even professionals were pretty much guessing and were totally at the mercy of the market’s unpredictability. Meanwhile I could see that there were clear signals and patterns in the markets that seemed to indicate that there is a way to easily get profits consistently. But others were somehow not seeing this. For instance one of the first things I realized is that most trading methods work well in a trending market and then they produce losses during a choppy, corrective or sideways market. So I immediately came to a revolutionary conclusion that no one else seemed to be noticing. Why not only trade in trending markets and avoid trading in choppy markets? What would that do to the results over the long term? Uhhh… It doesn’t take an Einstein or a rocket scientist to come to this conclusion does it?
In my quest for more Forex trading knowledge I went on to immerse myself in Elliott Wave Theory and Fibonacci. I delved into some of the mysteries of Gann. I saw many people doing many different things and I saw very few people consistently winning. In fact many seasoned professional traders seemed quite negative and pessimistic about the whole trading business. Meanwhile I was harvesting large profits consistently using a fairly simple method and wondering why people thought this is so difficult and why success seemed to elude most people.
Eventually a few acquaintances kept asking me about what I was doing which ultimately led to my authoring a training program that covers all of the insights, breakthroughs and “AHA”S that I have had over several years. The important message is that anyone can consistently get outstanding results in Forex trading with a little motivation and the right approach. Having experienced the challenge and the frustration of trying to learn to master the art of trading in a world where finding what works can be a lifetime pursuit, I now derive a lot of satisfaction in seeing others who have been through the struggle to learn Forex trading suddenly having amazing breakthroughs as they develop a lifetime skill that will continue to create financial freedom for themselves and their families.
Scott Shubert
Learn Online Forex Trading
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