Online forex trading Blog

Daniel S. asked:


Almost 90% of the part time traders that I know of want to become full time forex traders in the near future. And they hope to be professional traders one day. That is the dream for most forex traders. What about you?

In order to survive in the forex trading world and make lots of money from the forex market consistently, being a normal forex trader is not good enough – you’ll need to become a professional forex trader. So just what are the secrets that professional forex traders have that enables them to make lots of money trading forex? I once had a conversation with a friend of mine, who is a professional trader. And he shared with me the 3 secrets that make professional traders like him so rich:

Secret #1 – Professional Traders are NOT Geniuses- They Simply Follow a SIMPLE Forex Trading System.

You see it correctly, they are not any smarter than you nor do they possess of any god-like foresight in forex trading. I dare to say this because I know of some professional forex traders who seem to know nothing in this world and clumsy in doing other stuffs but can be a professional forex trader. Why is that so?

It’s simply because they have a successful forex trading system which gives good forex trading signals to help them trade consistently. And what they have to do is to repeat the consistency just by following the trading system. That’s all! And let me leak a little more secret, professional traders use simple forex trading systems instead of what most people thought to be complicated.

Secret #2 – Learn and Work Smart, NOT HARD.

Do you think that you should learn how to trade forex the hard way and gain all the knowledge before you can be successful? Do you think you can master the forex market if you combine all the strategies taught by every forex trading expert? If your answer is yes, you are WRONG! In other businesses, you may get rewarded for all the efforts and time you have put into.

But in forex trading, it’s the right forex trading tutorials and education that counts and you are rewarded for being accurate and not for efforts. You will be surprised that successful traders only follow a winning trading system blindly to build up their trading capital.

Secret #3 – They possess Determination, Discipline, Money Management and Mindset for Success

My professional forex trader friend told me that he would swipe everything aside just to concentrate on his forex trading. It’s his determination to succeed made him overcome small losses and steep learning curves that he had experienced in the beginning. He emphasized on a huge mistake that a lot of people make is that they are too eager to trade, too eager to make money fast from the forex market.

You need to have discipline to follow the rules of your forex trading system. Huge capital gains in forex are piled up over years of consistency and not days, there is no shortcut to riches. He manages his money so well that even 2 or 3 losses in a row can’t affect his profitability much. 1% or even 0.5% of his capital margin per trade is what he is only willing to risk.

Not everyone can be a professional trader in a short period of time as you need huge capital, but anyone can become successful in forex trading if you learn how to trade forex the professional way. I’m happy to be your forex trading guide and what you have to do is to download my FREE ebook with contains forex tips, forex trading systems etc that professional forex traders use in their trading.

Venu Modalavalasa asked:


Forex (Foreign Exchange, Forex currency exchange) simply means the buying of one currency and selling another at the same time. In other words, the currency of one country is exchanged for those of another. The currencies of the world are on a floating exchange rate, and are always traded in pairs Euro/Dollar, Dollar/Yen, etc. In excess of 85 percent of all daily transactions involve trading of the major currencies.

Forex trading requires a constant monitoring. You can win the forex market if you can monitor the forex market all the time and should be able to analyze it. Trading forex needs a lot of research. Forex trading needs full time effort. It’s not so easy to win the forex market just by being a part time trader.

Whether it is full time trader or a part time trader, forex market needs a lot of technical analysis and fundamental analysis. Doing fundamental analysis is really very easier than doing the technical analysis.

A technical analysis is founded on three suppositions:

1. Movement of the market considers everything;

2. Movement of prices is purposeful;

3. History repeats itself.

Basically technical analysis should be viewed as the study of historical prices at the market in order to forecast or even know with greater probability in what direction the future prices will move. Technical analysis needs various technical indicators, different types of charts, graphical methods and analytical methods.

Technical analysis needs a lot of time, concentration and patience. At the end of technical analysis, you get an idea when to buy the forex and when to sell the forex in order make the profits.

As a part time trader, you cannot keep much time for technical analysis. It’s the work of full time traders. But in that case, how could a part time trader win the forex market?

Forex market is growing faster and faster than any other market in the world. Many latest tools have also evolved for the forex market. The solution for the part time traders is to get the forex trading signals or to use an automated forex trading system software.

Forex Trading Signals are selling and buying recommendations given by any third party. Such parties could be brokers, brokerage firms, analysts, traders, forex related software tools, etc. Different parties offer different signals, tips, and trends for trading in forex markets. It is best to collect daily Forex signals from reliable sources. A combination of fundamental and technical analysis forms the foundation of accurate Forex signals.

In the other way, the part traders should either subscribe for signals with any forex expert organization or they should have some automated forex trading system software tool which would do the technical analysis for them and automatically place the buy and sell orders for them.

If you subscribe for forex signals with any forex expert organization, the forex signals cost anywhere from $50 to $200 a month. It’s up to the individual trader to decide if the cost is worth it. Don’t think that signals can take the place of trader education: they are advice, and if you don’t have the knowledge to analyze the advice, you should go back to the books before using a signal service.

Coming to the automated forex trading system software that generate the trading signals and place orders automatically, they are more handy. Generally the tools that are provided by forex brokers, they will be restricted to only particular currencies, but that would not be the case with the automated forex trading system software. These automated forex trading software systems will be available in the internet market and that too for a low and affordable price. There is no need for you to pay every month for these tools; it’s just a one time purchase. These automated forex trading software systems generally doesn’t cost more than $100.

The main advantage of these automated forex trading software systems is that there is no need for you to depend on any other forex signal providing organizations or on the forex brokers who serves you. These automated forex trading software systems directly get the trading signals for themselves and place the buy and sell orders for you automatically without any human intervention.

To catch up with fast growing forex market and to make good profits and consistent stream of income in forex trading, I prefer the automated forex trading software system. These automated forex trading software systems will be of more useful to both part time and full time forex traders.

Almost 90% of the part time traders that I know of want to become full time forex traders in the near future. And they hope to be professional traders one day. That is the dream for most forex traders. What about you?

In order to survive in the forex trading world and make lots of money from the forex market consistently, being a normal forex trader is not good enough – you’ll need to become a professional forex trader. So just what are the secrets that professional forex traders have that enable them to make lots of money trading forex? I once had a conversation with a friend of mine, who is a professional trader. He shared with me the 3 secrets that make professional traders like him very rich:

Secret #1 – Professional traders are not geniuses- they simply follow a simple forex trading system

You see it correctly, they are not any smarter than you nor do they possess of any god-like foresight in forex trading. I dare to say this because I know some professional forex traders who seem to know nothing in this world and clumsy in doing other stuffs but can do extremely well in forex trading. Why is that so?

It’s simply because they have a successful forex trading system which gives them good forex trading signals. It helps them trade consistently. What they have to do is to repeat the consistency just by following the trading system. That’s about all. And let me tell you a little more secret, professional traders use simple forex trading systems instead complicated, as what most people thought.

Secret #2 – Learn to work smart, not hard

Do you think that you should learn how to trade forex the hard way and gain all the knowledge before you can be successful? Do you think you can master the forex market if you combine all the strategies taught by every forex trading experts? If your answer is yes, you are wrong. In other businesses, you may get rewarded for all the efforts and time you have put into.

But in forex trading, it’s the right forex trading tutorials and education that count and you are rewarded for being accurate and not so much for the effort you put in. You will be surprised to know that successful traders only follow a winning trading system blindly to build up their trading capital.

Secret #3 – They possess determination, discipline, money management and mindset for success

My professional forex trader friend once told me that he would leave everything aside just to concentrate on his forex trading. It’s his determination to succeed that made him overcome small losses and steep learning curves that he experienced in the beginning. He told me the problem with most traders is that they are too eager to trade and make money fast from the forex market.

You need to have discipline to follow the rules of your forex trading system. Huge capital gains in forex are piled up over years and not days, there is no shortcut to riches. He manages his money so well that even 2 or 3 losses in a row will not affect his trading capital much. 1% or even 0.5% of his capital margin per trade is what he is only willing to risk.

Not everyone can be a professional trader in a short period of time as you need huge capital, but anyone can become successful in forex trading if you learn how to trade forex the professional way.