Did you see this yet?

The 35+ year trading veteran who developed what’s being called one of the best "core" Forex training programs just got this letter from one of his brand new students who picked up his Forex Nitty Gritty training materials, dove right in, and took immediate action:

 "Bill, What an easy to follow course (Forex Nitty Gritty). Ordered it late in the evening, watched and studied until almost 1:00 am, opened a practice account that same morning, placed a trade by mistake and lost about 7 pips while learning the lay of the and. When I got up that same morning my trades ended with 85 pips profit in only a few hours. WOW! Today I had 63 pips rofit, the day befor that 49 pips profit and monday 24 pips profit. Over $2,000.00 in 4 days… I highly suggest anyone anting to learn about the Forex market start with the Forex Nitty Gritty course, easy to understand and easy to follow. My many thanks to you, Daryl K., Cortez, Florida."

Now, let’s be clear: Just because Daryl cranked out $2k in 4days does NOT mean you will do the same. There are NO promises when it comes to trading, and anyone making promises is LYING to you.

However, what the developer of this core Forex training CAN promise is that Daryl (along with all his other Forex Nitty Gritty students – and hopefully YOU) will know EXACTLY what to do in the Forex markets… no matter what happens… no matter what goes on in the news… no matter what the market does…

-Daryl will know what decisions to make EVERY SINGLE TIME to maximize his chances of potential success, again & again.

* That’s the beauty of becoming an independent trader.

So, if you’d like to experience the Forex markets like Daryl does, check out the "nuts & bolts" of the Forex Nitty Gritty training material here

(Make sure you read the feedback from his other students on that page – I think you’ll be excited by what you see.)

All the training is digital, so you can download it RIGHT AWAY and get started today. Take your first step toward potentially trading like Daryl here.

If you are interested in currency trading Australia you need to know about some of the special factors that affect the price of the Australian dollar. It does not matter whether or not you live in Oz, you still may want to trade this currency from time to time. It can have benefits because the Australian dollar sometimes stays more stable when other major currencies are very volatile. This is partly because of its position as a commodity currency.

Commodity currencies are the currencies of countries whose main exports are in raw materials rather than manufactured goods or services. Raw materials can include food and other agricultural products, iron and other metals, gem stones, oil, etc. In Australia, the main commodity export is gold.

When the average consumer thinks of gold they usually equate it with jewelry. However, in the world of investments, gold is bought and sold more for its commodity value than for use. Gold is something that often preserves its value in times of economic crisis. For example if there is rampant inflation or a major stock market crash, the average person’s savings will often become almost worthless but an investment held in gold will maintain or more likely increase its value.

Australia is one of the world’s largest sources of mined gold. Production levels have fluctuated a little due to the effect of internal taxation but broadly speaking, Australian gold production has risen from just 20 tonnes a year in the late 1970s to around 300 tonnes a year today.

Because of this, there is a close correlation between the price of gold and the value of the Australian dollar. Interestingly, even though the USA is another major source of gold, even producing slightly more than Australia, the price of the AUD/USD currency pair is also closely correlated with the price of gold, other things being equal. This is because gold is not such an important factor in the huge American economy as it is in Australia.

So when gold prices rise, the price of AUD/USD will often also rise, and when gold falls AUD/USD is likely to fall. Often there is a little delay before the currency price reacts so a foreign exchange trader involved in AUD/USD has the opportunity to use this to his advantage.

You can also expect that commodity prices in general and gold in particular will go up when there is any major economic crisis in the world. Provided that Australia is not too closely involved in a crash, that is often another early indication of an upcoming rise in the price of AUD/USD.

Of course, gold is not the only factor here and if you want to trade AUD/USD you will need to stay informed about anything else that might affect the price. You can never completely remove the risk involved in forex trading. However, understanding the influence of gold prices on the Australian dollar will be of benefit to you if you want to make money from currency trading Australia.

Get the full scoop on your best next steps to start trading AUD/USD here

There are many currency trading systems out there. You could probably find hundreds or even thousands on the internet and in books. So how do you pick out a good one?

This is one of the most important questions when you start out as a forex trader. Anyone will tell you that psychological factors are vital in making a successful trader and it is true that it is very important to have discipline and the ability to apply your system consistently. But you must have a system that is capable of returning a profit in the first place.

Now you probably do not want to spend years in demo accounts trying to reinvent the wheel and design your own new system from scratch. So given all of this variety of systems set out in forex books, ebooks and video courses available online, how can you find a reliable system that will have a good chance of making you money?

One factor that you should look at when you are considering different currency trading systems is the success rate of the trades. Usually the publicity will tell you this, or you can ask.

Theoretically a system with a low success rate could be just as profitable, depending on the amount of money gained and lost on the trades. However, a high success rate is important for two reasons. One is that this is a good sign that the system works well in most market conditions. No system has a 100% success rate but something over 80% is achievable. If you put this into practice consistently, and perhaps avoid the very worst market conditions such as a choppy market, you should have a good chance of getting a profitable result.

The second reason that most traders work better with a high success rate is that it increases our confidence in the system. This helps us to keep motivated to apply the system consistently.

For the same reason, it is important to make sure that the system will give you enough trading opportunities to keep you satisfied that you are trading actively. That may sound crazy but if you only have one trade a week you will start looking around for other possibilities and probably take chances with your trading that will lead to losses.

Plus of course you need to be sure that it will only involve you in a level of risk that you are comfortable with.

The best currency trading systems are usually provided by someone who is a professional trader and using the system to make money themselves, so look out for information about the person’s trading experience, and check that they will offer support if you have questions.

There are many currency trading systems on the market. The most frequently used is

Forex Time Machine

by 35+ year trading veteran Bill Poulos

Everybody is looking for the perfect forex trading system, but how can you judge which will be the best? It seems that either you have to test it for months using a demo account, or you have to risk real money without really knowing if the system will work for you. Isn’t there a better way?

The problem is often knowing where to start. There are so many possibilities out there. There are free online trading systems, those in books or ebooks that you pay for, and automated forex trading systems in the form of expert advisors and other software or robots. Whatever you plan to use, you should try to ensure that it includes the following three factors.

1. Following a trend

Most of the best forex trading methods will be focused around identifying and following medium to long term trends. This is not the only way of making money with currency trading but for a beginner it is the best way to go because it does not involve you in high stress situations or a big time commitment. You do not have to watch prices all day. You can spend your time on learning more about the market.

2. Simple and clear

If you are just starting out, look for a system that is easy to follow. It does not have to be complex to be profitable. There are many forex indicators but you should not have to check them all for every trade or you will become confused. Three indicators should be fine.

It is also important that the rules are clear and inflexible. There should be no room for doubt about when to place an order, position size, where the stop goes and when to close a profitable trade. It is very important that you have a clear trading plan and that you stick to it. If there are fuzzy edges you will be left to make decisions that will not always work out well.

3. Profitable

You should not expect every trade that you place to be a winner. The aim is to have overall profits. This means that a forex trading system must be tested over a period of time, so that you know what results to expect. Then you will not be discouraged when you have a few losing trades.

You can often see published results for a system but you still do need to test for yourself any method that you plan to use and one way is to use back testing. Back testing just means looking at past charts of price movements, applying the system and checking what would have happened. This can be an effective way of testing and of course it is much quicker than watching the prices in a demo account to wait for a trading opportunity to arise. With back testing you can scroll through charts for a whole week in very little time.

Back testing is not a good basis for developing a system, because you may just end up with something that works for the particular set of price movements that you were looking at. However, it is fine for testing a system that is already developed. Just keep in mind that future results will not always follow the same patterns as in the past, and using a forex trading system in real time can be very different from analyzing historical charts.

There are many Forex trading systems on the market. The most frequently used is

Forex Time Machine

The Forex MegaDroid Robot stormed into the Forex arena… like nothing seen before in this niche.

People have been raving with excitement about this new break-through robot… it exceeded every person’s expectations in every possible sense.

Forex MegaDroid is simply here to stay and will create a new performance and quality standard when it comes to Forex automatic robots.

No other robot on the market has the features this robot has, NONE!

You can read about every single one of Forex MegaDroid’s impressive features here (and see PROOF of its awesome performance):

Forex MegaDroid’s features

John and Albert, the developers of this impressive new robot, have actually designed the first robot that CAN see into the immediate future with uncanny accuracy.

How accurately? Well… how about 95.82%!

What does that mean? Over 100% in net proflt, month-after-month – all on autopilot. Unheard of performance in every way.

Forex MegaDroid will break the 1,000% proflt barrier in 2009 and you can see why here.

These guys are not just bringing 38 years of combined trading experience with them (they have actually held some of the fanciest jobs in the industry!)…

They are bringing what they call the RCTPA concept, too…

They have been working on this concept for many months and this is the fruit of their labor…

This Forex robot is the ONLY multi-market condition robot. What this means is that it trades with extreme accuracy in every market condition: trending, non-trending, volatile, non-volatile.

This is amazing…

The only Forex robot that does not give back all its proflts when the market conditions change (like most robots in todays market)… and yes, that’s one of the reasons it has nailed over 100% net proflt, month-after-month.

Read a detailed explanation of what RCTPA is here

In order to trade currency successfully in the foreign exchange market, it is necessary to have some way to make forex predictions. In other words, you need to be have an idea of which direction the prices are going to move.

Foreign exchange trading seems very complicated when you first start out. The average person has no idea what is meant by terms like pips and spread. Charts and indicators are a complete mystery. We have all been in this position even if it was many years ago, so there is no need to feel ashamed or overwhelmed. Tackle the different aspects of forex trading one by one, sign up for a demo account so that you can try out the skills that you are learning, and you will find that it is much easier to understand these things when you are involved in practice trading than if you are just reading about them.

Beginners starting out usually have one of two attitudes to trends and price movements. Either the fluctuations seem completely random and they think it is impossible to predict anything, or they assume that they can just look at a candlestick chart and instantly know what will happen next. A little training and practice will soon show them that the way lies somewhere in the middle.

Forex predictions rely on two aspects. One is the national and global economic situation. This is clearly something that is going to affect currency values. You can easily see that if a country is doing well, people will want to invest in it, and the price of its currency will rise just as the price of a company’s stock rises when the company is successful. And of course the opposite is true too. So anything that affects the economic outlook for the countries whose currencies you are trading is going to have an effect on the prices that you get or pay.

Second, there is what is called technical analysis which relates to the charts and indicators that you see in your demo account software. There are many ways to use these to analyze the market. You can often identify when long term trends are forming which may cause the value of a currency pair to rise or fall more or less steadily over a period of weeks or months. If you can get in on a major trend in the early stages you can make a lot of money, but you must be patient.

There will also be small fluctuations within each day or hour when prices seem to bounce within certain boundaries. If you can identify patterns in these fluctuations you can place orders and make money from what is called forex day trading.

Movements in the currency market are difficult to foresee and you will need a well designed system and a trading plan that takes account of the funds that you have available and the amount of risk that you are prepared to take. There is no way of trading currency that is risk free, so you must be prepared for possible losses. Learning to make forex predictions will help you to establish a profitable trading history but nobody can be 100% accurate.

There are many Forex prediction systems on the market. The most frequently used is

Forex Time Machine

Forex trading is a great way to make money for those who are skilled at it, but without forex trading robots (also known as automated trading systems) it takes a lot of time and knowledge. Beginners who are starting out trying to trade for themselves have a lot to learn before they can consistently make money. Not only do they have to master what seems like a whole new language, but they have to get to grips with all kinds of charts and graphical indicators that help them to see when currency prices are taking a turn in a certain direction. In short, they have to learn how to predict the market.

On top of that, unless new traders are willing to tie up their money in a long term trade, they often feel they have to watch the markets at every waking moment and sometimes in their sleep too. Because of their global nature, the foreign exchange markets are open 24 hours a day from Monday to Friday. Experienced traders know the importance of scheduling their time so that they can have some kind of life away from the computer screen, but beginners can easily be sucked into the fast moving currency trading world until their health and family life start to suffer.

Automatic forex trading systems seem to offer a way around these problems. They will watch the market for you 24 hours a day; you just have to leave your computer connected. They will open and close trades automatically, according to their settings, which you can adjust to suit your own position size and risk comfort zone.

They do have some possible issues which you should be aware of before you start trading. First, they can take a while to set up. Do not assume that you will have your forex robot running perfectly within a few minutes of purchase. Software does not always run the same on every computer and there are quite a few variables that you will need to set for yourself. For example you need to open a forex broker account that is compatible with the software, and then hook up the two. Of course you will receive instructions on all of this but you cannot expect it to be instant. Do not give up, just contact the program’s support service if you run into an issue that you cannot solve alone.

Second, sadly even forex trading robots are not infallible. They do not exactly make mistakes, they always do what they are programmed to do, but they apply a predetermined system. Nobody has ever invented a system that works 100% of the time so you are bound to have some losing trades. This is true for every currency trader that ever existed, no matter how skilled. It should not be a problem if the system is profitable and if you know how to manage your funds.

The most important thing is not to risk too much on one trade. 2% to 5% is usually about right depending on the system that you are running. Most automated trading robots come with advice on the level of risk that is appropriate to their system. Keep on the cautious side, especially at first.

If you want to get into foreign currency trading in any form, you must understand that it is a risky business. It is possible to make a lot of money but it is possible to lose a lot of money too. Do not try to make too much too soon or you will probably fall on your face. But if you take this advice into account, then one of the best forex trading robots on the market could be a good choice for you.

There are many Forex trading robots on the market. The most frequently used is

Fap Turbo Robot

Whether you need a little extra cash or want to quit your job and work from home, it is great to be able to make money on the internet. You do not have a boss and you do not have to leave the comfort of your own living room or den. You can stay home with the kids and work whenever you want. For some people who have trouble getting a job, it is the only option; for others, it is a very attractive alternative to the 9 to 5 world.

The Internet has opened up so many possibilities for anybody who has a computer and a broadband connection. One of these new possibilities is forex trading, also known as foreign exchange or currency trading.

Forex trading is a way of making money online through financial speculation on the changing values of world currencies. A few years ago the forex market was only accessible to banks and other large financial institutions who could put representatives in the trading floors of the big financial centers of the world, but the internet has changed all of that.

Anybody can get involved in currency trading these days and you do not need a lot of money to get started. A few hundred dollars is enough. In fact it is so easy to get into online forex trading that many people go live before they should.

We all have dreams of turning a 3 or 4 figure fund balance into 5 or 6 figures, but despite what you may see in the advertisements, this is not easy to do. Forex trading is risky and the only way to make money on the internet with forex trading in the long term is to keep your risks as low as possible. This means that your funds will grow more slowly, assuming you are following a profitable forex trading system, but your account is likely to stay in credit even through the inevitable losing runs.

Many people get into forex trading as if they were gambling. They hope for luck and trade on the basis of their intuition instead of looking for a system that works. They talking about ‘playing’ or ‘getting into the game’. The result is that they take too many risks, again like a gambler, and end up losing everything.

This kind of mindset is easy to get into when you are trading with small funds. In fact, forex trading has replaced the online casino for many Americans. That is why so many new traders quickly lose all the money that they put in. If you are serious about wanting to make money, and we hope you are, you must avoid falling into this trap.

Forex trading is simple, in a sense, but it is not necessarily easy. It is tempting to want to rush in and hope that you will be lucky. You must avoid this temptation if you want to be successful. Instead, you will find a good system and master the techniques and tactics that are required to implement it. That is the best way to make money on the internet with forex trading.

There are many Forex Trading Systems available. The most frequently used is

Forex Time Machine

The currency trading chart is one of the most important tools for the forex trader. Charts are at the root of forex technical analysis, which forms trading systems based on studying price movements rather than economic forecasts which are the basis of fundamental analysis in forex trading. Most traders these days prefer technical analysis which does not require any special knowledge or training in economics.

Any currency trading chart will show price movements. Usually you can track these over a variable period of time. You can look at the last few minutes, hours, days or longer. Using a chart in conjunction with the mathematical indicators provided by most brokers and charting services, you can identify emerging tendencies and trends that can signal a trading opportunity.

Forex charts come in three formats.

1. The Line Chart

A line chart plots the closing prices at the end of each trading period, which could be anything from one minute to one day, you can set this. These are joined with a line to show the direction of movement. However, a line chart does not tell you anything about what happened at different times during the time period, only the final closing price.

2. The Bar Chart

A bar chart gives you four prices for each period: opening, high, low and closing price. You will see a vertical line for each period. The top of the line marks the high and the bottom is the low. A notch on the left side shows the opening price and a notch on the right shows the close. Usually these are at different levels but they could be the same. Either one of them could be the same as the opening or closing price but more commonly they are somewhere between.

The advantage of the bar chart over the line chart is that it shows you how wide the fluctuations were during the period, giving you an idea of the volatility of the pair at a glance.

3. The Candlestick Chart

This last type of chart gives you all of the same information as the bar chart but in a colored format which many people find easier to take in.

Again a vertical line marks the high and low prices during a period, but there is also a wider block that runs between the opening and the closing price. This block will be filled with color, usually red if the price is falling (opening price is the high end of the block, closing price is the low end) and green or blue if it is rising (closing price is the high end of the block, opening price is the low end). If shown in black and white you will see black for a falling price and white for a rising price.

The colors give you an instant view of whether prices rose or fell during the period. This makes candlesticks quicker to read at a glance than a bar chart. You can immediately see a reversal, which will show up as a series of green blocks marking the trend followed by one red marking the reversal, or vice versa. That is why candlesticks are the favorite type of currency trading chart for many traders.

If you are new to forex trading it is essential to understand the currency trading pip. This is how your profit, loss and costs are measured. Your broker account may translate pips into dollars or other currencies for you, but it may not. In any case you will want to know what it means for yourself.

A pip is a percentage in point which is a transferable unit of measure, much more useful for the purpose of comparison than a dollar profit figure. It is used in price quotes and as a measure of the change in currency prices.

The pip is the smallest measure of movement in the quoted price. Prices for most currencies are quoted to four decimal places, so one pip is 0.0001 units of the quote currency. (The exception is the Japanese yen which is much less valuable and is therefore quoted to 0.01 yen.) The quote currency is the second of the two currencies in a pair. So for example in the pair EUR/USD, the quote currency is the US dollar.

Some brokers are now beginning to quote to five decimal places and there is some argument among traders as to whether a pip then becomes 0.00001, or whether this would just be confusing, since it would mean that some brokers’ pips were 10 times as big as others.

If you visit forex forums you will see traders all the time talking about their profitable trades in terms of pips. They will not tell you how many dollars they made, because that depends on their position size which another person would not necessarily replicate. Talking in terms of pips also means that they do not have to reveal the size of their account.

For example you may see a trader talking about making 200 pips profit on a trade in EUR/USD. They could be an amateur who traded a micro lot or a professional bank trader who traded tens of thousands of lots. Each would have made 200 pips, but the value of those pips would have been vastly different.

To know how much it would mean to you in terms of profit and loss, you simply multiply by 0.0001 and then by the lot size. The result will be the profit in the quote currency.

The quote currency for EUR/USD is the US dollar. So if the trader is dealing in standard lots of $100,000, one pip is 0.0001 x $100,000 i.e. $10 per lot. If he made 200 pips profit, that is $2,000 per lot. But if he uses mini lots of $10,000 it’s a profit of $200, and on a $1,000 micro lot it’s only $20 profit.

Still, if you assume 100 times leverage, he has only had to put up $10 for his $20, $100 for his $200 profit or $1,000 for his $2,000 profit. So it’s a pretty good return and no wonder he is haunting the forums to boast about this trade!

Anyway, you can see how it is an advantage to be able to talk in terms of pips.

Also, of course, the currency itself could vary. The quote currency will not always be the dollar. If that example trade was in EUR/GBP then the 200 pip profit would be 20, 200 or 2,000 British pounds. If you wanted to know what that was in US dollars you would need to add another step into the calculation, multiplying by the current exchange rate.

This may sound confusing at first but when you start trading, even in a demo account, you will soon understand what a currency trading pip means in practice.

What is an expert advisor or EA and how can the best expert advisor help you make money from foreign currency trading?

The first thing to say, in case nobody has explained this to you before, is that a forex expert advisor is not a person as you may think. It is a forex robot, or in other words a software program that trades for you in the foreign exchange market. You set it up according to a system, telling it how much you want to risk etc, and it goes ahead and makes trades for you whenever the market conditions are right.

There are two main advantages in having an EA trade for you.

The first one is obvious. Provided you can keep your computer connected to the internet, it can watch the markets 24 hours a day, which you could never do yourself. The foreign exchange markets around the world are open constantly from Sunday afternoon to Friday afternoon, and there is no way you could do this for yourself.

The second big advantage is that a forex robot is not going to panic or get greedy. It has perfect natural self discipline, always follows its system to the letter, does not become distracted and is never affected by emotion. If something goes wrong it is usually either human error (you set it up wrong) or a technical problem, usually a break in the internet connection. You can pretty much eliminate the latter if you can set it up on remote hosting instead of running it on your own computer, but many people these days have reliable 24 hour broadband that is not going to cut out on them. So a robot is way more reliable than a human trader.

Most people’s problem when they start out forex trading is that they do not have enough self control to operate a trading plan successfully. You may be thinking that this does not apply to you. Most of us, especially men, think of ourselves as being pretty well controlled and not likely to be swayed by emotions. Right.

But I’m not talking here about the kind of emotions that make you break down and cry (although you might!). I’m referring to emotions like the rush of excitement that you get when your trade is winning and you want to hold on and see if it will make it to the next big number of pips. Or the fear and panic when you see a trade losing. You forgot to set the stop, or set it in the wrong place. What do you do? You hesitate, not knowing whether to close out right now or wait and hope the market will turn around. Meanwhile, you are losing more and more …

If you think that these things could not happen to you, then you have probably not been trading on a live market for very long, if at all. Unless of course you are using a forex expert advisor, which makes it possible that these crises and panic losses will never happen to you.

This does not mean that all forex robots are good, any more than it means that all human traders are bad. Some human traders make a lot of money. Some EAs make none. You need to pick the right one. Avoid free expert advisors … they may not cost you anything to buy, but they will cost you a whole lot in trading losses! Take time to find the best expert advisor to give yourself the best chance of making money from the get go in the risky world of foreign currency trading.

There are many Forex Expert Advisors on the market. The most frequently used is

Fap Turbo

You probably heard about an automatic forex trading system. This can be a useful solution for you if you are interested in forex currency trading as of the money that can be made but you do not know much about it.

So what exactly is an automatic forex trading system and how does it work?

There are many profitable forex trading systems developed by successful traders. In fact, most traders have their own system, which is a little different from everybody else’s. Nowadays with the advances in the Internet, they can have a programmer automate these systems so that they run automatically 24 hours a day. This takes advantage of the fact that the forex market runs in all of the world’s time zones, so it never sleeps from Sunday night to Friday night. With forex trading software, you can exploit this while a human trader has to eat, sleep and have a life. The computer program that does this is called an automated trading system, expert adviser or forex robot.

While some traders keep their automated systems to themselves, others are happy to share, for a price. So they sell them to other traders, especially to people who are not able to develop systems of their own. The forex market is huge, with the equivalent of almost $4 trillion traded daily, so a few people trading the same system is not going to affect things very much.

However, the market is constantly changing and some systems are better than others at predicting this. Forex trading is risky and there are no guarantees that any system will work in the future even if it worked in the past. So you do need to be careful which forex robot you buy. You will even find free expert advisers, but many of these are not profitable. It’s worth spending a few dollars to get one that works.

You may be concerned about the idea of trusting your investment funds to a computer program, especially if you do not understand it too well. That is a good attitude to have. You have to be careful with the settings and you should be sure to run the robot in demo mode so that you can see exactly what it does and whether you can be successful with it. Only then would you trust it with your real money account.

In most cases you have a guarantee period of one or two months where if it does not work for you, you can get a refund. This is great because it allows you to run it on a demo account at no risk. Almost all brokers offer a demo account these days, so you just need to find one whose software platform is compatible with the robot that you want to use. The guide that comes with the automatic forex trading system will usually recommend one or more compatible brokers.

There are many Automatic Forex Trading Systems on the market. The most frequently used is

Fap Turbo

If you want to start trading currency it is worth looking around to make sure that you find a top rated forex trading course. Obviously you will want to start seeing a profit as soon as possible but forex trading is risky and if you do not get a good forex education you could easily be losing money instead.

It is not so simple to predict which way currency prices will go. There are many factors to take into account. On top of that, it is vital to open and close your trades at the right moment to get maximum profit from any price change. If you try to work all of this out for yourself it will take a lot of time. So why not give yourself a head start by taking a good ?

Your course should cover all of the basics so that you are well prepared to begin trading. Here is a short list of important points that you will need to understand. Make sure that your course covers all of these before you sign up.

1. Principles of currency trading

Any good currency trading course will explain the basic principles of the forex market including leverage and margins, pips, spread and other costs, and what to look for in a broker.

2. Technical analysis

Technical analysis includes interpreting charts and indicators to identify trends, swings, breakouts and other factors that could be signals for you to open or close a trade. Different systems rely on different indicators. In the beginning, you only need to master the indicators for your own chosen system. Trying to cover them all could be confusing. Later, you might want to refer to other indicators to tweak your system for better profitability, so it’s good if you have access to a course that you can dip into again further down the line.

3. Fundamental analysis

Fundamental analysis relates to the economic news, announcements and other events which affect currency prices. In the end, it is each country’s economic performance which causes the value of its currency to change. You do not necessarily need to be able to predict these events. In fact many traders stay out of the market completely around the time of a forex news announcement. But it is important to understand how the process works and keep an eye on the alerts for anything that might affect your trading.

4. Risk management

Risk management concentrates on minimizing your losses through the use of stops, and protecting your funds by limiting the position size. In general your risk on any one trade should never be more than 5% and many traders work on 2%, 1% or even less. Broadly speaking you should expect to reduce the risk for larger fund sizes, simply because it will be more important to protect a fund of several million dollars than one of only a few hundred dollars. But you are pretty sure to crash and burn if you exceed 5% so make that your limit. You may feel like taking a chance for quicker growth on a small fund but wiping out your funds is not a good way to go!

5. Mindset

We put this last because it is usually the last thing that beginning traders want to hear about, but it is possibly the most important of all. In the end, if you do not master the mindset of a successful trader you will not be able to profit from the forex market.

You must develop a cool headed approach and work on your discipline so that you can follow a trading system without letting fear, excitement or other emotions get in your way. You also need to understand how to handle losses on the psychological level. Risk management techniques can help but if you let your emotions get the better of you, it is easy to fall into a pattern that will guarantee more losses. A good forex trading course will include teaching and exercises to help you master the art of self discipline and keep your emotions off the trading floor.

There are many Forex Trading Courses on the market. The most frequently used is

Forex Time Machine

Many people see trading forex online as a way to make money without having much idea of what they want to do that for. Of course money is useful, but with other types of investment people are usually clear in their minds about what they are looking for in terms of a return: income or wealth building. But forex traders do not always think about this.

It is important. Even though you can make money with currency trading without having a clear aim in view, the ideal strategies and trading plan will be different depending on your aims for your investment. Something that a wealth builder considers to be a successful strategy could cause an income seeker to consider that he is failing at times. So let’s look at the differences and how to handle them in your online trading strategies.

If you are seeking profits for income, then your aim will be to live on the profits of your currency trading account. You may only have a small fund now but you will probably be hoping that in a few years you can give up your day job and pay all of the bills from your forex profits.

On the other hand, somebody who is building for wealth will not plan to take an income out of his profits. He will leave them in the account to grow. He may have the aim of building a retirement fund or some other plan where he will eventually use the money, but this is a long term goal and anything taken from the account in the meantime will be lump sums for a particular purchase rather than money to live on.

So someone who is trading for income has to make a certain amount of profit per month, or at least a certain average over a few months. You’d need your income to be reasonably stable and above a certain level, otherwise you risk not being able to pay the bills.

You would need some backup in the form of savings to cover you in the case of drawdown. You would also need extremely good money management and discipline to stick to your system in difficult times. Somebody who depends on trading forex online for their living expenses is under a lot more pressure and mindset will be crucial.

Traders who are building for wealth tend to trade less often because they do not feel this same pressure. Ironically, this can mean that they wait for clearer signals and make more consistent profits than the income trader. They do not mind if their money is tied up in a trade for weeks or even months. They do not need the profits right now.

Wealth builders are also able to accept a bigger drawdown. They take a longer term view and know that they will regain the losses and then some before they ever need to cash in. This means that, other things being equal, they can afford to take a bigger position with the associated bigger risk.

The bottom line is that if you are trading for income you should be looking for a system with low drawdown and your trading plan should be set for low risk. A system that provides frequent signals for small trades will probably suit you better than a system that waits for major trends and swings. If you have clear aims for your trading and understand the implications as set out in this article, you will put yourself in a good position to make profits from trading forex online.

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5 Golden Tips For Successful Forex Trading

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First off let me say congratulations on your decision to check out this article on forex trading strategies. That title, what to do when you lose, would have put off most people who do not have any idea how important of a subject this is.

We all want to hear about winners and how we can win. We do not want to hear about losing and what do when we lose. And yet the way to become a winner is to know how to deal with the losses. It’s that important.

In forex trading there is no possibility of having 100% successful trades. Every experienced trader knows that. Of course you go into every trade believing that it has an excellent chance of being profitable, otherwise you would be crazy to even open the trade, but at the same time you know that losing trades are part of the game. The aim is not to win every time, but simply to gain more than you lose.

So the first thing to do when you have a loss is to treat it as something normal. I’m assuming here that you operated a stop and didn’t lose a huge amount. Do not be devastated; forgive yourself and move on. You might want to stop trading for the day if you are kicking yourself real hard but come back to it next day.

If you followed your trading plan then you should not even be kicking yourself at all. Your system may allow for 1 in 10 losing trades and you just had one of them. There is no blame here and no reason to act any differently at all. In fact you could call this a balancing trade, and not really a loss at all, since your system plans and accounts for it.

If things are going badly wrong, you may need to rethink your approach. I’m thinking here about a very large loss or series of losses that almost wipes you out, or if you observe that your trades over a period of time are producing a small but steady loss rather than a balance on the plus side.

In this type of situation the first thing to do of course is to ask yourself whether you are applying your trading strategies and your trading plan correctly. If your losses are the result of straying from your system and taking unplanned risks, you need to work on self discipline. One way of doing this is to open a mini or micro account and train yourself to apply your system exactly with a lot size that is just 10% of your normal position. Only when you are following your plan 100% of the time and showing a profit, do you return to trading with your usual lot size.

Another option is to get back to basics. Stop trading for real and take time out to go back to school by signing up for some kind of forex trading training. This can be a very useful option if your system seems to be at fault and is no longer giving you the results that it should. It can also help you a lot if your problem was over confidence. Concentrate on mastering various methods of analysis and you will almost certainly find yourself improving your system or developing new forex trading strategies that you can test on a demo account.

There are many Forex Trading Strategies available. The most frequently used is

Forex Time Machine

You will need a brokerage account as soon as you start forex trading, and you may as well get with the best currency trading broker from the get go. Your broker is your means of access to the markets and is also your provider of leverage so that you can trade on margins and control position sizes large enough for it all to be worthwhile.

So how do you select the best forex broker? There is a lot to take into account. Here are the our top 10 points that you will certainly want to consider.

1. Funds Required

This is usually the first thing that traders look at when they are considering a currency trading broker so maybe you don’t need us to tell you, but there is a very wide range of minimum investment sizes among brokers. You will see the old style broker offering standard accounts for traders who have $10,000, $50,000 or more to invest, others with mini forex accounts which might typically require around $1,000 minimum, and micro accounts which can start around $100 or even as low as $25 in one or two cases.

You are usually best advised to go for a broker whose client base is mainly other traders with similar sized accounts to yours. That way there is a good chance that services and costs will be a good match for you.

2. Market Access

Do they provide 24 hour access to their trading platform? Most do, but you could be caught out if you make assumptions. How about support? Is that available 24 hours too, in case you have a technical problem?

3. Pairs

You will also need to check that the broker offers all the currency pairs that you are likely to want to trade. If you are a beginner, look for a broker that covers all the major pairs (USD paired with EUR, JPY, GBP, CHF, CAD and AUD) plus some cross pairs (combinations of the last six of those currencies).

4. Technical Services

You will want to look at the charts and indicators that are provided, and whether the broker includes forex news alerts. These services are less important for experienced and professional traders who probably have accounts with dedicated news and charting service providers, but a beginner can save money by choosing a broker who offers a lot here.

5. Software

Check out the broker’s software platform. Most firms offer a demonstration account so that you can test the system and services on the live market without risk. This also gives you a chance to test new systems. You may want to run in demo mode for several months, especially if you plan to test more than one system, so look for a currency trading broker who gives unlimited time on demo accounts.

6. Regulation

Look for a currency trading broker who is a member of at least one of the main regulatory bodies in their country. You cannot take this for granted because the forex market is generally not regulated by law. If you go with a completely unregulated broker there is probably nothing to stop them disappearing from the internet with all of your funds. Bodies such as the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the USA provide a certain amount of protection to users if the broker should suddenly fail. There are similar associations in other countries.

7. Spread

The spread is the difference between the bid and ask prices for any currency pair, and this is the broker’s edge, which is the way that most brokers make their money. The amount of the spread varies according to the broker and the currency pair, but you can expect to pay 1 to 3 pips on most of the majors. Check the spread for the main pairs that you plan to trade.

Some brokers offer a low spread but then charge fees or commission in addition. This can be advantageous for some traders, usually those who tend to make a small number of long running trades.

8. Lot Size

There are standard lot sizes which are 100,000 units of currency for a standard lot, 10,000 for a mini lot and 1,000 for a micro. However you can find variations on these from some brokers who will offer a wider choice or even fractional lots where you can make up your own lot size. Of course, you will be trading on margins so you do not need to have this amount of money in your account. See the next point.

9. Leverage

Leverage and margin requirements can be very different with different brokers. This is what gives you the power to control large sums and make (or lose) a lot of money with only a small investment. 100 times leverage is often seen as standard but 200 is possible. Some traders prefer to work with 50 times, giving lower risk.

10. Business Model

Last but not least, the broker’s business model can have a big effect on how your trades are handled. Most brokers do not have their own dealing desk but access the market through a network. You may see this referred to as an ECN or electronic communications network.

More recently, what is known as market makers have sprung up in the forex trading world. These are not brokers in the strict sense of the word. They will find a match for your trade through a network broker or sometimes they will match your trade themselves. This puts them on the other side of your trade and means that they lose if you gain … not an ideal position from your point of view, when they hold your funds. So if you go with a forex market maker be sure to check user feedback.

In fact, it is always advisable to check feedback from genuine users before signing up with a broker. Look in independent forums and try to find several points of view. Do not pay too much attention to any one individual, who may be biased in their feedback, and look for reports from users who are at the same level as you. This will help to ensure that you find the best currency trading broker for your funds.

There are many currency trading brokers on the market. The most frequently used is FXYard

After I took a look at the Forex Time Machine, I KNEW it was one of those courses that could create a rift in the trading community… because those folks who get their hands on it will have a marked edge over those who don’t…

In the past 2 weeks, over 78,915 traders bombarded a special, "insiders" Forex training website.

There, 35+ year trading veteran Bill Poulos exposed his 2-part Forex "risk eraser" technique, revealing the key easons most people lose in the Forex markets…

-and how to INSTANTLY transform your Forex trading with a subtle "mindset flip" that most traders get completely rong.

Now, it looks like a major change is about to occur with how individuals like you profit from the Forex markets.

Why?

Because Bill’s "risk eraser" concept is turning a lot of heads and making people realize the true key to creating asting profit potential in these markets.

And based on the early feedback he’s been receiving from those lucky enough to see a preview copy of his new training ourse, it looks like he’s on to something.

You see, Bill does everything in his power to give you the "keys to the kingdom" where you understand EXACTLY what to o when you go to place a trade. There’s never any second guessing or wondering.

CAUTION: This is NOT for "systems junkies", or individuals who like to let others make their trading decisions.

But it IS for traders who like to have FULL CONTROL of their destiny in the markets.

Bill’s new training course is called the "Forex Time Machine", because its goals are to:

** ERASE RISK every time you trade; today, tomorrow, next month, or next year…

-the concepts he teaches you are "future proof", so you can have confidence they’ll be a permanent part of your trading toolkit" for years to come.

** SAVE TIME by trading in any timeframe, even as little as 20 minutes a day…

-you’ll further reduce risk and maximize your profit potential when you trade ONLY when it’s right for you…

** ENJOY 3 TIMES the profit potential when you learn to spot 3 kinds of Forex "profit pockets" on any chart you look t…

-you’ll have the tools to do as much "profit getting" as possible in all major Forex pairs so you don’t let that next homerun" trade get by. His 3 step-by-step methods show you how…

But it may already be too late, because he’s initially only releasing 300 copies to give his "charter class" of new tudents the attention they deserve.

So unless you’re already consistently taking home more Forex profit than you know what to do with…

-go ahead and check out the detailed letter Bill wrote for you that reveals all the info behind his "what works now" aproach to "erasing risk" on your Forex trades:

Get Forex Time Machine Now

I hope you make it into his "charter class" before it closes.

A short time ago we provided a series on Forex Trading Methods and how a forex trader can recognize a good method.

Now, let’s review one Forex Trading Method that meets our test for a good trading method and reveal why it’s a good trading method.

Our criteria for trading methods and the basis upon which we make our recommendations are:

• In-depth, detailed learning instructions
• Trade Opportunity Identification
• Entry Rules / Exit Rules
• Trade Plan and Strategy
• Risk Management (Initial and Ongoing)
• Product Support (Materials and Customer Support)
• Additional Product Tools (Forums, Member Websites)
• Product Guarantee

Any course, program or forex trading method must meet or exceed these.

Forex Time Machine

This is the most recent in a series of Forex trading methods from trading veteran Bill Poulos of Profits Run. Bill has most recently released a day trading course called Forex Income Engine 2.0 and previously released one of the longest running forex trading courses, the Forex Profit Accelerator in 2007. He is very well respected as a trading educator, teaches his students from the ground up, and is one of the few out there who doesn’t hype with ridiculous performance returns or guarantees.

If you don’t know Bill or have not had an opportunity to get some insight on his education style, watch this video as he teaches traders how to manage risk in every trade:

Click Here to watch Bill’s video

When we are reviewing forex trading methods, forex courses, forex robots or forex signal services our goal is to be sure they meet a specific set of criteria and to measure each product against those criteria before passing judgment.

The logic here is that not all forex products are created equal — in fact, many of the forex courses and automated forex trading systems out there are designed to make money for the creator of the product, not to make money for the forex trader.

With the eruption of Forex trading products that have hit the market in the past year, it is more important than ever that forex traders do their homework before spending their money on that program that promises to turn $5,000 into $150,000 in just thirty days.

We’re seeing a significant rise in these types of claims – and forex traders would do well to remember that many if not all, of these claims are simply a Scam.

Here’s an example: Maybe you’ve seen a headline like this:

"My Brand New Super Forex Robot Turns $300 into $30,000 in just 5 Days. Get It Now For Just $49.95…"

Think about that for a moment — that means in the second week, you would turn $30,000 into $4.5 MILLION — and in the third week, you would turn that $4.5 Million into $675 Million.

And in just ONE MONTH your $200 would become $101,250,000,000 (that’s $101 Billion).

You’d be the wealthiest person in the world. All that for just $49.95.

Do you believe that?

Now we’re the first to admit we’d LIKE to believe it…but we know better.

This is why we develop our standards for reviewing and testing forex products and why every product must meet our certain criteria before we’ll give it a passing grade.

The criteria we use to determine whether a trading method should be considered:

• In-depth, detailed learning instructions
• Trade Opportunity Identification
• Entry Rules / Exit Rules
• Trade Plan and Strategy
• Risk Management (Initial and Ongoing)
• Product Support (Materials and Customer Support)
• Additional Product Tools (Forums, Member Websites)
• Product Guarantee

If a forex trading method, forex robot or other forex course or program does not meet these criteria, we won’t approve it as worthy of your time or your money. Remember nobody can promise you profits trading Forex (or any other market). If you’re reading outrageous claims, you should avoid the product because there is simply no way they can be true.

We’re tired of seeing traders scammed by those claiming HUGE, windfall profits. The reality is this: Forex trading is a risky business and you are better off armed with education and a method where YOU are in control of your trading activities.

Automated forex trading programs, black box systems, mechanical forex trading systems or forex robots take control AWAY from you. We argue this is a bad idea and can only lead to massive losses for you over time.

We were talking with some forex traders about one of the problems affecting them while their trades were ongoing and found a common issue — watching winning trades become losing trades.

As we’ve talked about before, if you aren’t managing your forex trades, from entry point to exit point, you’re going to see this happen to you – and it will likely happen often.

Here’s the root of the problem:

A trade is entered along with an initial stop loss. What most traders do is try to get ALL their profit at once, but they don’t actually have a ‘target’ –

When the trade initially gets profitable, many traders will ’screengaze’ — they get focused on how much they’ve made or are making at that moment. What they don’t do is plan for exiting the trade — they overstay in the trade and frequently watch their profits evaporate when the market turns against them (and then compound that error by staying in EVEN LONGER to ‘get back’ those lose profits). This is a losing proposition in forex trading.

In short, they let GREED cause them to lose sight of the purpose of the trade.

What is the purpose of a trade? To maximize gain and minimize risk – it IS that simple.

Maximizing gain does not mean you exit a trade at the absolute ‘Top’ – it does mean that for the duration the trade is on, you have a set of rules that determine where you’ll exit for profit – and it isn’t where YOU think it is! More on that in a bit…

Minimizing risk means more than just setting that initial stop loss — you MUST manage your stop losses throughout the duration of a trade.

When forex traders enter a trade they must protect their capital first and think profit second. When their position starts trending up, they can take the right action to protect their capital AND their profits.

In fact, most successful forex traders ASSUME they’ll lose on every trade. They perform this psychological trick to make sure their risk strategy is always top of mind! Once a trade turns in their favor (much to their surprise), the first steps they take is get themselves into a break-even trade situation; followed by aggressive stop loss management to maximize their profits on the trade.

They think risk first, profit second.

Watch this video to see how it’s done:

Our research and surveying has confirmed that too many new and inexperienced forex traders simply do not know how to manage risk in each trade — and all too often, the result is the same: they wipe out their accounts.

Here’s what we find is happening. Forex has grown in popularity so quickly that many traders who are new to forex trading have just waded into the waters, opened an account and have begun putting on trades without any real thought or planning to how to approach trading.

It should be obvious that the problem with this thinking is little to no understanding of how to approach trading foreign currencies and the significant risks to capital that it poses. All to often, new traders try to trade first and learn second.

And the result of that learning is the loss of their account balances. Hey, let’s be honest, trading on a demo account is never the same as trading with real money. You do not apply the same emotional control, the same trading principles or rules, you’ll take greater risks with the demo account and play too safe with the live account (often to your own loss).

Reverse your thinking: learn first, trade second. In fact, across the board, the need to reverse people’s mindsets about forex is what is needed. Learn the right way to trade first, and THEN take that knowledge to the market and trade with it.

As part of that learn first scenario – the NUMBER ONE element to trading forex that new, inexperienced or unsuccessful traders should learn is how to MANAGE RISK FIRST in every single trade.

Today, one of the most well-respected Forex educators, Bill Poulos, released a video that teaches traders EXACTLY how they should be trading forex. And, how traders can put more trades in their favor by erasing risk — it’s very cool thinking and it isn’t what’s being taught by most of the so-called ‘Gurus’ out there.

Catch the video here:

http://www.yourforexangle.com/y/?i=996938&u=4&l=f3

By learning to manage risk FIRST, traders will find their trading transformed as they are able to approach forex trading with an entirely different mindset, a plan for erasing risk and a solid set of rules by which to trade.