The Downside To Forex Trading Forums

By John Templeton

The beginning of any forex trading career is always going to be a bit rocky. It's only natural since you are still in the very early stages where everything is brand new to you and you don't really know where to turn. One of the places that most new traders visit are forex forums. For example, forex factory always has thousands of new traders signing up with them everyday.

That's exactly what I did when I first started getting into forex trading. The whole idea of trading the forex market was so perplexing to me that I just needed a place to get my bearings. Forex forums are great for this. There is a lot of content on those sites. The major downside is that most of the content is useless.

You are presented with all of this information, and it's such a shock to the system. You scan all the threads and there are countless posts regarding forex trading systems, trading robots, custom indicators, etc... You feel like the holy grail of trading is somewhere in these pages and if you find it, you are going to be rich. But guess what? All of these "shortcuts" don't add up to anything in the long run.

If you just want to learn the very basics of trading the forex market, like "what is a market order" or something along those lines, then these forums are wonderful for that. But once you start scanning the threads for "the holy grail", then you have ventured way of course. You've lost focus on the long run.

If this is you, you need to look at yourself, and ask "am I just looking for the easy way out?" Because that is all that you are really doing. If would be truly wonderful if something like a holy grail exist, but it doesn't, and just to save you time, I will tell you that it will never exist.

I remember wasting so much time on these forex trading forums, looking for something that would make me rich. After months of doing that, I realized that I had nothing to show for all that time spent. All I had was a bunch of useless gadgets and I knew nothing about the actual market.

Once a trader gets rid of that "shortcut" mentality, then trading becomes a lot easier, and much more profitable. Learn about things like technical analysis and price action, and there is no telling how far you can go when you use traits like subjectivity in your trading arsenal.

Can Online Forex Courses Replace Reading Forex Articles?

By Gil BZ

The problem with the Forex market or any other market for that matter is that there is so much information to consume before trading that most traders skip that part and jump right in, which ultimately leads to losses. Spending the time to read Forex articles and take professional Forex trading courses is as important if not more important than placing effective stop losses on your trades.

The Web is overflowing with high quality Forex articles and lord knows, the developers of the Forex courses out there would love to take your money. Now, don't get me wrong, I appreciate the temptation to begin trading as soon as possible, but that will be your first and biggest mistake in your Forex career.

The question then becomes, which one deserves more time, Forex articles or Forex trading courses? The answer in this case, unlike many other areas in Forex, is black and white. You should spend your time reading as many Forex articles as possible and only after you have done that should you consider taking a Forex trading course.

The following are some reasons Forex articles will prove more effective than Forex courses:

• Price: The Web is filled with great articles. There is no reason you should spend your hard earned money on a Forex trading course when you can read endless articles for free. OK, that was an obvious one.
• Personalized: Some people are more technical than others, some people can relate to fundamentals better than others, each person has their own style. It is for this reason that a trading course might not be as effective as reading Forex articles that speak to you on your personal level.
• Pace: When reading a Forex trading article, you can read it at your own pace, while a Forex trading course is usually given to more than one person, so you have to keep up. Given the above points, there is no reason you should not have the flexibility to learn Forex at your own pace.
• Variety: In terms of topics, a Forex course has its syllabus and whatever topics the instructor decides to teach is what you have to learn. Articles on the other hand, are available on all topics. So if you feel like you are weaker on the topic of technical analysis, you can go ahead and read forex articles on that topic specifically.
• Legitimacy: If you are paying for a Forex course, you never know if you are getting the best value for your money. You might be dealing with a company that wants to steal your money and give you the most basic possible Forex trading course. Reading Forex articles independently on the other hand is freely available and there are no risks involved.

Forex Replicator EA

By Alan Zornes

Before you buy Forex Replicator EA, let's take a closer look at how this system works and what comes with it. William Morrison has done everything possible to make this software easy to install, easy to understand, and easy to use. He's also included several bonuses in order to make it worth the investment.

• Buy/Sell Signals - The software gives you clear signals that recommend when to buy and sell. If you want to automate it, you can use the trailing EA which watches and deals with trade adjustments.
• Chart Accuracy - The program gives you a chart from the past that is similar to  a current chart so you can compare the conditions and see what is likely to happen. It also tells you the percentage likelihood that history will repeat itself. Obviously anything over 90% is a great opportunity.
• Other Currency Pairs - You can use this system on the Euro/US Dollar pair or the British Pound/US Dollar pair right away. You can also expand to other currency pairs. Imagine being able to look at any pair and find out when in history that pair was experiencing the same conditions as today.
• Other Instruments - This program also comes with the ability examine other trading instruments such as food, precious metals and other commodities.
• Multiple  Timeframes - This is one of the more popular features. The Forex Replicator system adapts to your lifestyle. That means you can tell it how often you want to check for new bars. You could set it for 10 minutes and then check your screen that often, or you could set it for several hours so you can leave or do something else.
• Filter Trades - If you're using some other system, you can use this one as another filter to confirm your trade entry.
• Easy to Use - This software is simple to install and comes with an instruction manual.
• 24/7 Support - You can get in touch when the support team any time. They're happy to answer any type of question you might have.
• Unlimited Updates - William likes to improve his software periodically, and when he does, you get the update for free.
• Two Month Money Back Guarantee - You can actually try it out for 2 months and if you're not satisfied, you can get your money back, no questions asked.

Of course, it's easy to be skeptical, especially if you've been fooled before. One of the most common questions is, "Why is William Morrison not keeping this system to himself?" Well, because he wants to make more money. He earns huge profits using this system, but when you're ambitious, you always want to earn more. And why not earn even more money by selling the system he spent nine months and thousands of dollars developing? Especially when it will help hundreds of other Forex traders.

When you visit his site, you'll see that there are no catches, no hidden strategies or any other types of scams. Everything is explained in great detail so even beginners can use this system.

There's a reason Forex Replicator has grown so popular so fast. It works! If you're ready to get started or just want to try out the 8 week trial, visit my site at Forex Replicator.

Article Source: http://EzineArticles.com/?expert=Alan_Zornes

Article Source: http://EzineArticles.com/7052718

Forex Trading Myths - Don't Believe Everything You Hear

By Richard M. Davieess

One of the most challenging things for new Forex traders is that of finding a good, reliable Forex trading information. Having the right information can mean the difference between success and failure in the trading world. There are far too many Forex myths floating around so we would like to dispel some of them for you.

There is no slippage in Forex -- you will hear this pretty much constantly. First we'll start with a quick definition. In trading, slippage is the difference between the price you want and the price you get. Don't ever believe that there is no slippage in Forex because that is a myth. Although Forex is extremely liquid and you may get filled at your price frequently, it does not happen every single time. During times of extreme volatility, such as the days of news releases, slippage in Forex can be extremely common. We have personally seen slippage of over 100 pips and almost 200 pips! It is hoped that by dispelling the myth of there being no slippage in Forex that you will keep a close eye on your risk during periods of extreme volatility.

Technical indicators don't work -- this is another popular myth typically perpetrated by those who would love for you to believe that they have discovered some new incredible method of trading. You'll frequently hear that indicators do not work and that the only way to trade Forex is to use price action. The fact of the matter is that indicators have made billions of dollars in the global financial markets year after year after year. It does seem quite logical, however, that those who are not proficient in the use of technical indicators would not profit by using them. Improper use of any tool will result in failure to get the job done. As a leading technical analyst, Tony Hosea says, "You are always going to be disappointed when you try to drive nails by using a screwdriver".

Anyone can be a successful Forex trader -- this is probably the biggest myth of all. Successful traders are not a dime a dozen, they are a rare breed. That doesn't mean you that you can't become a successful Forex trader, it simply stating that not everyone is cut out for it. The main reason that this myth is being perpetuated is so that people who have no idea how to trade Forex will think that they can simply buy some inexpensive "solution" and fill their trading accounts with cash. This simply is not true. Anyone who enters into a Forex trading arena unprepared will get eaten alive.

These are but a few of the many Forex trading myths that are in circulation today. These are often perpetuated by those who have an agenda in order to bias beginning traders into thinking one way or another in order to eventually get them to actually believe that the myths actually are true.

Richard Davieess is an expert in the proper use of forex trading tips. Richard runs the very successful and popular website about Forex trading. He has helped people all over the world become better Forex traders. Visit his site at http://www.ForexExaminer.com right now for more information and/or help on successful Forex trading.

Article Source: http://EzineArticles.com/?expert=Richard_M._Davieess

Article Source: http://EzineArticles.com/5674544

Forex Trading Facts You Need to Know Before You Trade

By Kelly Price

If you want to avoid the 95% of losing traders and join the elite 5% who make big profits, you need to understand the facts we are going to look at in this article. Let's look at the facts and why, there so crucial in terms of enjoying Forex success.

Here are the Forex trading facts you need to know and if you understand them, your on the way to making big gains in just 30 minutes a day.

Forex trading is a totally learned Skill

You don't need to be smart or have a college degree to learn Forex the basics of trading are easy to learn and you can learn them quickly and its a fact that you win with a simple system based upon trading charts, that simply follows price action. What you do need to do to win - is to have the right mindset to make your system profitable - so let's look at why its so crucial to success.

Adopting a Mindset for Success

You need to control your emotions and most traders cannot do this, if you can you will win, don't control them and you will lose money. The key to success is to cut losses and do so quickly. The market will give you a lot of losses but so long as there small, you will also get some big trades which give you profits.

Forex Trading is NOT an Easy Business However...

With the amount of money you can make it's obvious that trading is not easy but the good news is if you have the correct mindset, and a logical and simple trading system you can win.

There is no Way to Beat the Market and no Secret Short Cut

Lots of people will tell you that you an beat the market with a robot but the market soon teaches these robot traders a lesson and the trader who thinks he is on the road to riches with no effort, joins the 95% of losing traders.

Effort and Work Count for Nothing In Terms of Profit

When you go to work in most jobs the more effort or work you do, the more money you make but in Forex this work rule doesn't apply. Forex trading is all about being correct with your market timing and the time spent on trading is irrelevant to your trading success. Most successful traders have a plan and simply execute it and don't look beyond it or make it to complex.

Final Words

If you understand the above facts, you will understand why most traders fail to make money and how you can.

NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE

For free 2 x trading Pdf's, with 50 of pages of essential Forex info and the BEST Currency Trading Strategies for success, visit our website at: http://www.learncurrencytradingonline.com.

Article Source: http://EzineArticles.com/?expert=Kelly_Price

Article Source: http://EzineArticles.com/6014276

The Reason Most Retail Forex Traders Lose Money - Don't Make These Key Mistakes

By Kelly Price

If you want to win at Forex trading you need to avoid the mistakes the majority make and its a fact the huge number of retail Forex traders who lose money do so because they keep making the same mistakes. If you are making the mistake enclosed or you are looking to trade you need to avoid this error - let's take a look at it in more detail.

How Professional Traders Make MoneyThe reason most retail traders lose is there always trying to pick market tops and bottoms rather than follow the actual direction of the market. These traders are trading short term and think they can trade with small stop losses and by small, I mean within the noise of the market (10 - 30 pip stops for example are very common). Picking exact tops and bottoms is impossible but the typical retail Forex trader tries and loses. These losing traders never holds a trend and focus on short term profits, they buy in to support and sell into resistance and get steamrollered by the market.

Professional speculators, don't spend their time trying to pick tops and bottoms with 10 - 30 pip stops or small targets. They also don't try and trade small random moves, on 5 10 or 30-minute charts. The professional trader will be long term in nature, will focus on getting into trends and holding them. Trends persist because - the retail crowd pick tops and bottoms and give there money to these pro traders.

The Reason Trends Persist and How to Make Money

Retail traders are essentially gambling that because a price has risen it must come back down quickly and a look at any chart will show this is not true, trends persist and they last a lot longer than most people think.

As George Soros once said: 'For a market to trend it needs to deceive and shakeout the majority of traders'.

Markets do trend and its the huge number of top and bottom short term traders who feed money to the professional traders who simply follow and hold these trends.

The retail Forex trader believes that he can make money predicting with small stops because there is a huge industry telling him he can win this way. This advice is only given by sellers of systems and strategies, who make money promoting this myth.

How to be a Winner Trading Forex

If you want to win focus on trends and forget about trying to pick every top or bottom in the market. Cut leverage back and use stops which give the market room to breathe and have them behind the losing herd of traders who always get stopped out. The above is simple advice and its true and the only way you will win in Forex trading is to learn it and apply it in your trading strategy.

NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE

For free 2 x trading Pdf's, with 50 of pages of essential Forex info and the BEST Currency Trading Strategies for success, visit our website at: http://www.learncurrencytradingonline.com.

Article Source: http://EzineArticles.com/?expert=Kelly_Price

Article Source: http://EzineArticles.com/6113401

Best Forex Trading Tips for Beginners

By Dante E Vangilder

Technology breakthroughs not merely modified the accessibility from the FX market, they also modified the method of how trading decisions had been produced. Analysis showed that, rather than unable to find profitable trading methodologies, the main reason for failure as a speculator is actually a lack of discipline devoted to profitable trading and threat management as well as the lack of forex trading tips for beginners. The development of iron discipline is among probably the most challenging endeavors to which a trader can aspire. There's Forex trading strategies nowadays that make useful to read.

Below is some of the most important Forex trading tips for beginners:

1. Forget about buying fancy software and don't waste your money on FX robots. It's very easy to get distracted by data and gadgets. The truth is, less is more in trading. The more complicated your system, the less chance it will work or that you will follow it. The majority of technical trading indicators are a total waste of time. The most important factor when trading any market is the price. You can learn other Forex trading strategies out there.

2. Don't try to day trade the FX market it's a waste of time and ultimately you'll lose money.

3. The most successful FX traders make money from longer term trends. Brokers want you to over trade as that way they make more commission and spread.

4. Don't look at the short-term FX charts. They provide no value. The main tools you can use are trend lines, moving averages and support and resistance levels. Keep it simple.

5. New traders should avoid OTC FX brokers. Consider currency ETFs, and options on currency futures to begin with. You get a better deal and have more protection using a currencies future contract than an OTC broker. Learn more from Forex trading strategies. A lot of those strategies explain about this OTC broker.

6. Many traders don't realize the news they read and current affairs have usually been priced in already. Often, new traders jump on a news story. But often, the market has already discounted the information. The market many times has already discounted the information. That is why as a new trader, you have to learn Forex trading tips for beginners.

7. Trade with what you see, and not with what you think. You may think the Euro is overvalued and you may be right eventually. But if the price is moving, it doesn't matter what you think. It does not matter what the "guru" says. You should be trading with the trend. If you are not unsure about it, then better learn from Forex trading strategies online.

8. Many focus on the major currency pairs but over the years.

9. Sometimes, the best trades in FX are the ones you don't make.

10. New traders just think about the entry of the trades. Remember, the exit is more important than getting in.

This Forex trading tips for beginners will allow you to trade successfully in the future when you give too much attention to it and applied it.

It is possible that the currencies in the world will rise and fall against a commodity lines go. Currency market not surprisingly uses the same principles across the board. But you can find better Forex trading strategies that most trader applied. You can log on to this site http://www.crashfrequency.com/forex-trading-strategies/ for more details.

Article Source: http://EzineArticles.com/?expert=Dante_E_Vangilder

Article Source: http://EzineArticles.com/7327912