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Advantages of Trading FOREX over Stocks and Commodities.
There are many advantages to Trading FOREX as your main income generator. Let’s start by something that may be worrying you already. “Do I need a Diploma or some kind of Certification to trade FOREX?” The answer is this: When attempting to make...
Forex Made Easy for Everyone
Forex made easy is as simple as you would want it to be. The foreign exchange market is a worldwide market and according to some estimates is almost as big as thirty times the turnover of the US Equity markets. That is some figure to chew on. Forex...
FOREX Trading: Risky Business
You can see the claims on some FOREX web sites, implying that FOREX is a risk-free pastime. No investment is risk-free.
In FOREX you are trading substantial sums of money, and there is always a possibility that a trade will go against you. There...
If you start your own home business what sort of business would you choose?
My personal opinion about home business is to create multiple
home income streams. This is essential to make your
homebusinesses to a success. Big question is what sort of
businesses would you choose. If you choose to create several
businesses...
New Opportunities with Forex Trading
The simplest definition of currency trading is the practice of exchanging one country's currency for another country's currency. Basically, currency trading involves four main variables: currencies, exchange rate, time, and interest rate. The...
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Discover the Biggest Trading & Investing Online Mistake
Any online investor / trader seeks an excellent off or online future trading career opportunity. Despite this goal, did you know 95 percent of all traders go broke within the first two months? Why do investors lose vast amounts of wealth in one or more of the following markets - option trading, forex trading or currency trading, stock trading, future or commodity trading etc... in such a short amount of time?
Most online investors / traders interact in devastating forms of thinking, which convinces the mind to the point where the trader believes that an educational enhancement ability that develops superb market research skills is not important. On the contrary, if trading is not treated as other business opportunities, the new sales and trading job will cripple the trader. You must develop a purposeful or industrious undertaking to learn how it works. Would you conduct business as a brain surgeon with out a college or university degree? I do not think so; similarly, the same course of action holds true for trading success.
The secret of my success required an earnest and conscientious effort on my part. This action accomplished something to the point of pure boldness; in other words, no matter how boring or non-important you think learning how to trade may be, it must be done to insure a success story.
Every successful company needs a business plan. Yet, when most people take a gamble on the securities industry, they fail to put a trading plan into place. In other words, they end up going on an emotional roller coaster, governed by how the market performs.
Without a trading plan, the majority of traders approach the financial market in an inconsistent manner - i.e. they follow their whims. The typical pattern may include the following:
Day 1 - experiment with option trading
Day 2 - randomly select any online trading brokerage firm.
Day 3 - try out future trading
Day 4 - read about oriental trading then decides to go into that direction
Day 5 - change mind completely and try currency trading or forex trading
Day 6 - try day trading then in midstream chooses to hold trade for the long term
Day 7 - venture off into stock trading
Day 8 - dabble in commodity trading
Day 9 - give up because you think it is a hopeless cause.
This example is meant to look confusing. Similarly in the illustration above, this trader may use one set of indicators one day, and the next day they will throw these indicators out the window and take on a completely set of
new rules.
Unfortunately, with no consistent approach, your trading decisions, governed by emotions, are doomed to failure ......... here is why.
When faced with losing money in the market, what do traders do? Usually, they end up rationalizing to hold on to a losing stock. The driving force behind this is that they do not want to be wrong. They let their ego get in the way of making profits.
LOOK! Let us set the record straight. THIS IS A FIRM FACT - not every trade will be a winner. You will not make the maximum profit out of every trade. There is no Holy Grail trading system! You just need a trading plan, which matches your personality.
When I say trading plan, I am not talking about fundamental analysis or technical analysis specifically, I am talking about setting up a simply a set of guidelines to follow regardless of what stock selection method you use.
In fact, through a study of successful traders, I found there are many different trading methods for entering a security. I have seen people use technical analysis; fundamental analysis even astrology to determine when to enter a trade. Despite these varied entry methods, one component remains the same among successful traders... they all have a trading plan that suits them.
In fact, successful traders have a written plan and my friend this is the essential component to their success. I guarantee that investors who stick like glue to a trading plan are the ones who make NOT LOSE MILLIONS of dollars in their activities of online investing.
-=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-
David Jenyns is recognized as the leading expert when it
comes to designing profitable trading systems.
His most recent course Ultimate Trading Systems is a step-
by-step trading roadmap to designing profitable trading
systems. Learn how *you* can become one of his students.
Click Here ==> http://www.ultimate-trading-systems.com
Receive David's free trading tips by sending a blank email to:
==> ultimate-trading-systems@getresponse.com
-=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-
GO
About the Author
READ my articles; you'll FIND the best trading plans put together. Searching for these on your own, is a needle in a haystack. I trade everyday & my progressive efforts found the perfect system & plans work. These trading systems are unbelievably powerful, yet simple to use. Until recently, I've kept this formula to myself. NOW, I reveal all. CUSTOM ARTICLES AVAILABLE UPON REQUEST :-)
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| Currency Trading, Forex Trading, Forex, Online Currency Trading |
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| OANDA FXGame - Currency Trading Demo Platform |
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| Forex | Forex Trading | Forex Minis | Online Currency Trading |
| FOREX.com - THE site for forex trading. 24hr commission-free currency trading w/ real time execution and guaranteed fills. Forex mini accounts from $250, ... |
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| Currency Trading News, Forex Trading News, FX News, Forex News |
| Currency Trading News, Forex Trading News, FX News, Forex News - Daily FX. |
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| Currencies - Currency Converter & Latest Rates at CNNMoney.com |
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| money.cnn.com |
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| FOREX Advisory |
| The CFTC urges you to be skeptical when promoters of foreign currency trading claim that their services or account management will earn high profits with ... |
| www.cftc.gov |
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| Forex Trading: Online Currency Trading from Global Forex Trading |
| Global Forex Trading is the premier online foreign currency trading firm and a primary market maker. To learn more about forex trading, visit GFTForex.com. |
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| Amazon.com: Foreign Currency Trading: From the Fundamentals to the ... |
| Amazon.com: Foreign Currency Trading: From the Fundamentals to the Fine Points: Books: Russell Wasendorf by Russell Wasendorf. |
| www.amazon.com |
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| Forex, Online Currency Trading, FX, Foreign Exchange | ACM Forex |
| Forex Trading with The Forex Broker. ACM offers online currency trading, commission-free, tax-free, lowest forex spreads on the market, guaranteed fills, ... |
| www.ac-markets.com |
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| OANDA FXTrade - Currency Trading, Forex Trading, Online Currency ... |
| Currency Trading with FXTrade, leader in online currency trading, provides real-time execution, free forex charts and quotes, and 24 hour forex trading. |
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| Forex-Day-Trading.com - Currency Trading with FREE Training |
| Learn how to day trade currencies with our free training. Try a free forex trading demo for 30 days. |
| www.forex-day-trading.com |
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| Forex Online Currency Trading: Welcome to Global Forex |
| Global Forex offers online currency forex trading at inter-bank FOREX rates. Try our FREE online forex demo trading system. |
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| Forex trading - Realtime Forex online currency trading |
| Realtime Forex offers commission-free online currency trading on live foreign exchange prices. Realtime Forex’s currency trading service also includes free ... |
| www.realtimeforex.com |
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| Forex Blog |
| Forex news blog with daily commentary. Has a good beginner's article. |
| www.forexblog.org |
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| Common Questions About Currency Trading |
| Whether you're puzzled by pips or curious about carry trades, your queries are answered here. |
| www.investopedia.com |
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| OANDA FXTrade - Currency Trading Basics |
| Currency Trading Basics. Exchange Rates and Spreads: ... In currency trading, these codes are often used to express which specific currencies make up a ... |
| fxtrade.oanda.com |
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| Currency trading, free forex charts, news and analysis |
| Online currency trading with technical analysis, charts and forex news. |
| www.gfforex.com |
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| Finance - Currency-Trading Ezine Articles |
| EzineArticles.com allows ezine or email list publishers to upload or download free expert content that can be used within email newsletters or websites. |
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| MGFOREX |
| MG Financial Group - Forex, FX, Online Forex Trading. |
| www.mgforex.com |
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| Simply provide your contact details and describe your needs to receive a free consultation from business or personal debt service providers. |
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