Thursday, 25 March 2010

Stocks poised for modest gains

Stocks poised for modest gains

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Wednesday, 24 March 2010

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Monday, 22 March 2010

Dollar extends gains

Dollar extends gains

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Stocks poised for early selloff

Stocks poised for early selloff

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Foreign banks ready for U.S. invasion

Foreign banks ready for U.S. invasion

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Greed and revenge when trading forex

GREED

Most traders in the forex market try to make a zillion dollars on every trade.  They're greedy. This leads them to stay in a good trade, hoping to get more money out of it.  This can lead to disaster — the trade can move
against them and they get creamed. This happens all the time, and it still happens to me from time to
time. It's the single greatest threat in trading. But you can already understand why that's probably
true. But how do you overcome greed when trading?

REVENGE

This is the other big one. A lot of traders flush some pips down the toilet and then want to strike back. So they double their last order and go for broke. It’s like, well … it’s like reaching down into your toilet. That’s gross. And it does not make you any richer.

The impulse to get revenge is natural, and I still deal with this emotion often.  Do not underestimate this emotion. Many traders have not only reached into the toilet of revenge, but have dived into it head-first. Remember: the market is not your friend. The market is so much more powerful than you are. You cannot “get back at” the
market. Trading when angry or vengeful will be a total disaster. If you take a big loss, then stop, take a deep breath, and talk to a mentor or your mirror, or your favorite stuffed animal. Re-read the charts. 

Take a break. Chew on your toe if you have to. Even if you think you see the best opportunity in the
world after you get blasted – make sure you take a deep breath and pause before you do anything.

Source: The Currency Trader’s Handbook by Rob Booker

Trading Diary

Do You Keep A Trading Diary?

One of the first things my trading Mentor taught me was “winners keep score.” Since early in my trading career, I have kept a diary of the daily trades I initiate. There was a time when I thought that diaries were for bookworm-ish men and teenage girls. However, one of the most effective learning tools in my trading arsenal is my extensive trading diary.

Most futures brokerages have a method that will allow you to download your trades every day. Usually, this download comes in a spreadsheet format and is compatible with Excel. Of course, you'll need to check with your broker to determine the methodology your particular brokerage uses. Along with a daily accounting of the trades I'd make I also include a copy of the chart I traded on that particular day. Further, I may make notes about the trading activity that occurred that day. I often note the volume, volatility and in any anomalies that may occur throughout the course of the day.

Why go to all this trouble?

In my trading, I have found my trading diary to be one of the most useful tools for me to improve my trading technique. I generally wait about three months, or until I've forgotten that individual day, to revisit my trades and evaluate both good and poor trading technique. I am often amazed, and sometimes embarrassed, at the trades I initiate. However, reviewing your trading diary allows you to dissect and analyze the trades you made and hopefully learn from your mistakes and reinforce the trades that were executed properly.

The point of keeping a trading diary is to remind me that I've must remain a student of trading at all times. Regardless of whether I've traded 25 years, or 25 months, or 25 minutes it is important to keep the student mentality. In my opinion, this is where many traders fall down. Learning to trade is an ongoing process, and the market has many moods and unique price action. Sometimes it can be months or years before similar situations arise, and it's handy and useful to note these anomalies so that you might be better prepared the next time they occur.

Even more important is to review the charts from past trading days. By looking at the trades and the chart together it is like looking at a chart from yesterday and analyzing the moves you made both, good and bad. This repetitive diary review keeps me in the learning mode and allows me to continue my own personal growth as a futures trader.

As I said, I use an Excel spreadsheet and make notes in the individual daily cells for my trading diary. On the other hand, there are an infinite number of ways to keep the trading diary. You might use Word, or Open Office, or any program that will allow you to keep a record of your activity. It doesn't need to be fancy, it only needs to make sense to you. There are also a number of commercial trading diaries on the market which are very detailed and inclusive. For me though, Excel works just fine. Your choice of recording your trading activity is strictly a personal one, but make sure you keep a diary of some form.

How do I analyze my diary? I would like to think that I use specific criterion for selecting my trades. When I review my trading diary, I can cross check my trade entries to see if my trade selection met the criteria I have established. One of the traders worst enemies is trading on a motion or intuition. So I like to analyze my losing trades and determine which part of my criteria, if any, I violated. As you can see, the psychological aspect of trading is an important component to recheck. I try to identify those trades where emotion was an important component of my investment decision and note the specific chart formation that led me to believe I was entering a profitable trade, when I was not. I have found the only way that I can consistently analyze my past trading activities is through my trading diary. And it is through my past mistakes that I can avoid making similar unwise decisions.

In summary, I encourage you to keep the trading diary and record as much information about your daily trading as possible. It's also important to get into the habit of entering information in your diary every day. Keeping a trading diary helps you, as a trader, state firmly entrenched in the learning mode, as it relates to trading. Reviewing your past trades and the chart formations that cause you to initiate those trades is a superior method to improve your trading technique and trading self-discipline.

Get your FREE forex trading diary template here: http://yourtradingdiary.blogspot.com/2010/02/forex-trading-diary.html


Article Source: http://www.articlesbase.com/ - Do You Keep A Trading Diary?

Wednesday, 17 March 2010

What Is Finanzas Forex?

Finanzas De - the Rise of Forex Trading in Colombia

Finanzas de forex is an opportunity created for investors in the Republic of Panama. Created by a group of financial professionals and experts in the currency trading market, finanzas de forex fascilitates to the general public of the Republic of Panama.

The goal is to help the investors gain access to the Forex market, without having to invest huge sums of money. Itsprimarily a team of local Panama experts teaming up with other well known , global inevestors, in an attempt to spread forex trading to all parts of the globe.

The elements that the Finanzas forex team has put together are:
  • Product
  • Specialized Technicians
  • Earnings Plan
  • Optimum moment
Finanzas forex is basically an opportunity for a group of people to invest as a whole, with the purpose of generating high benefits.

The capital is invested into a platform from a european broker firm, which is where the operations of buying and selling will take place. Using forex, because of its size and capabilities, creates the best possible conditions for construction of network businesses. Its the combined capital, mixed with the lower investments of each investor that creates this unique opportunity. Giving the Republic of Panama investors their chance to get involved with Forex has opened many doors to expert financial entrepreneurs.

Quickly growing into a major , capital driven venture, finanzas forex is soon to be the largest investment group of its kind. Many have anticipated the arrival of Finanzas de for quite some time. The begginning of the program is set up in many different languages for the vast array of exposure that goes into such a company.

The goal of Finanzas forex is to create a safe, durable business , that lasts for years to come.Leaving nothing to chance the committee that makes the groups financial decisions has hired the very best Forex investors from all over the world. Gaining the trust of the small time investors has really been the trademark of the finanzas de forex trade group. They are committed to taking this company to higher levels, and they vow to safeguard invested money with a long term investment plan. Hoping to gain little by little without the huge risks that sometimes have undercut investors in the past.

Article Source: http://www.articlesbase.com/ - Finanzas De- the Rise of Forex Trading in Colombia

Three Reasons to Trade the Foreign Exchange Market

The Foreign Exchange Market offer many opportunities for any individual to make some money trading currencies; in this article I will write about three advantages in the Forex market.

Forex Trading can be started by anyone with a laptop and high speed Internet, very simple and convenient. There are several Forex brokers online that offer real time trading practice and many other resources to get started. Currency trading is a global market that involves billions of dollars everyday, movement in the market can happen in seconds and within that time life investments can be lost or fortunes can be made. It is very important to practice and have risk management in place in order to avoid loses. Most Forex brokers have demo accounts that let a potential Forex broker practice as much as possible to be confident when starting to trade with real money. Very important is to practice, practice, and practice.

The Forex market is the most liquid in the world. It involves about three trillion dollars everyday, so that means there is always movement within a short time. If you stick to a major currency there is rarely any waiting and if you apply risk management and have a strategy in place then winnings can pile up and fortunes can be made.

The Forex Market is open 24 hours per day from Sunday night until Friday night which gives a lot of room to trade currencies for the early riser as well as the late sleepers. There is always a market open around the world during this timeframe. It could be the US market, the Tokyo market, the London Market so there is always the opportunity to trade currencies while everyone is asleep or everyone goes about their daily routine.
These were only a few reasons to trade in the Forex market, there are many more. The Forex market is increasingly becoming popular and it is the right time to get involved in the biggest financial market in the world.


Article Source: http://www.articlesbase.com/ - Three Reasons to Trade in the Foreign Exchange Market

Thursday, 11 March 2010

Forex Statistics

Understanding Forex Statistics

Once you become somewhat familiar with how the forex market works, and you understand to a point what is involved in trading on the Foreign Exchange Market, you would want to start to gauge market trends in order to profit from your business ventures on the open market.

The name of the game is statistics, and the first rule is that you must be aware there is no such thing as a sure thing on the forex market. While you can never be 100% sure at any given time of the next move that will be made on the market as a whole, being able to read statistics and interpret them will place you ahead of the pack in regards to "guessing" what will happen next.

Forex trading is a lot like gambling. If you can keep track of the cards that have already been played, you are more informed, statistically, regarding what is likely to be dealt next, meaning you can place a bet with greater insight than someone who has no clue what has already been played. With the forex market, if you have information as to what has already occurred over the past few days, months, or even years, you are again placed in a better position to more logically conclude what will happen next. You simply learn the pattern and follow it to the end, reaping the financial rewards.

Charts And Chartists

Wait, did you think you were going to have to research and map out the market's past all by yourself? Of course not! There are people who get paid to do that sort of work. They monitor the market hourly, daily, weekly, monthly, and yearly so that they can provide big-time traders with the same knowledge mentioned before. The more a trading company knows about the market, the more money they can make.

The best part of this is that you have access to the same information as these VIP clients. Chartists, who are essentially market analysts that publish their findings in easy to read charts, produce what is referred to as a candlestick charts. These charts are basically a combination of a line graph and a bar graph that show the trend of various stocks, indexes, or other interests over a specified period of time. Therefore, you can easily determine if the currency is on an uptrend or if it is taking a downturn, when the last major change occurred, and how long it is predicted that the currency pair will continue on the current path.

If your broker does not supply you with these charts, then you should easily be able to draw them yourself with the modern day charting software or trading platform that you get from your broker. These software platforms can draw most charts for you by entering a couple of parameters and viewing the result.

It is recommended however that you learn at least the basics of charting and statistics before you start trading live.


Article Source: http://www.articlesbase.com/ - Understanding Forex Statistics

Monday, 8 March 2010

The Best Hours to Trade Forex

What Are The Best Hours to Trade Forex??

Forex trading has become extremely popular with small investors and it is now an easy market to enter with relatively small investment capital. It is also the world's largest and most liquid financial market with trading operating around the clock.

The market offers the opportunity for many small investors to literally quit their day job and make a very comfortable living working from home over the Internet and has indeed made many small traders very rich indeed. However, like most things in life, it is not without its downside and trying to trade without knowing exactly what you are doing is a recipe for disaster.

One question which many novice traders ask is "when is the best time to trade?"

The forex market is a very volatile market and prices can move up and down very quickly and literally from minute to minute, so that every minute you are in the market is an important minute. Choosing just when to trade, as well as having a variety of safeguards in place for every trade, is thus an important consideration. Remember though that you can enter and exit the market as many times as you like during the course of a day and so we are not talking here simply about choosing your working day in the same way that you would choose your hours for a regular day job. You can, for example, enter the market by opening a trade at 10:00 am and exit the market by closing that trade at 10:10 am. You might then decide to stay out of the market for a while and start trading again at 1:25 pm by opening your next position.

There is no 'home' for the forex market and trading takes place across the globe, although there are a number of significant trading centers in each of the three main trading regions of Australasia, Europe and North America. For example, within Europe trading takes place in several cities including London, Frankfurt, Paris and Zurich.

In theory the market is not in fact open 24 hours a day and each trading center will have its own set operating hours. Trading for example starts in Sydney and is followed by trading in Tokyo, London and New York. Because of global time differences however you will find that there is a trading center somewhere in the world which is open at any time of the day or night, seven days a week, and since traders have access to all of these trading centers you can effectively trade around the clock.

As an example, the time is just coming up to eleven o'clock on a Friday morning in Thailand as I write this article, so where can I trade at the moment. Well, the markets in Europe and North America are currently closed, but I could trade if I wished to do so through Sydney or Tokyo. However, if I decide to spend the afternoon on the beach (which is entirely possible) and then to trade later in the day then the markets here in the Far East would be closed but I could trade first through London or Paris and later through New York.

Now this is all very well but the question is not really when can you trade, but when is the best time to trade?

Trading volume is high through the day simply because of the sheer size of the market but this volume will peak whenever the trading hours of two or more of the three main trading areas overlap. This in fact happens at two time periods between 2 am EST and 4 am EST when the Australasian and European markets are operating at the same time and between 8 am EST and 12 pm EST when the European markets and North American markets are both open at the same time.

So, unless your trading strategy involves specific currency pairs being traded in particular markets, the times above are those times when you will see the greatest number of possible trades and thus the times which many traders find to be the most profitable.

Article Source: http://www.articlesbase.com/ - The Best Hours to Trade Forex


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