Currency Trading Profits – A Simple System Making Millions

Here we will reveal a system for currency trading profits, which has a logic that is so simple, ANY trader will see why it works, and why it will continue to work, as well as how they could be making big currency trading profits too!
If you use this system in currency trading, you will have the potential to catch EVERY major currency trend.
We have all heard this investment wisdom: "To make money buy low sell high"
However there is a better way to make big currency trading profits and the wisdom here is: "Buy high and sell higher"
This will become clear with some explanation:
Ignore Traditional Investment Wisdom if you want the Big Profits!
If you want to "buy low and sell high" you have to guess where a market is going to bottom and this is not easy. You are trying to PREDICT where a trend might start - this very often means the market goes lower and you lose.
Investors and traders are taught to "buy low and sell high" but when a huge move starts they watch and wait for the pullback - it never comes, the market simply goes higher, and they never get in.
The problem with this traditional investment wisdom is you end up trying to pick market bottoms, and try to get in on pullbacks, but when a market trades higher quickly, you miss the move.
This sees traders lose on trying to pick bottoms – they don't make the profits they could have made from the big moves.
Breakout Systems are the Best for Catching the Big Profits
A breakout system does not try to predict a market bottom - it waits for CONFIRMATION.
It will wait for a market to break above a recent high, (resistance) or break below a market low, (support) if these levels are broken, a move will start, and astute traders ONLY trade the break - they don't try to predict.
You can make big profits on these breaks - look at any currency you like: Japanese yen, Swiss Franc, British Pound, etc. and you will see huge moves from breakouts.
The Best Risk Reward
The breakout point provides the best risk to reward, to enter the trade.
Why? Lets take a hypothetical example:
The British Pound has traded up and tested resistance at 1.85 several times, and is currently trading at 1.70. The market rapidly trades up to 1.85, and immediately breaks to the upside, and quickly goes to 1.95
What has Actually Happened?
When the critical 1.85 area gives way, traders with stops on their short positions, start to cover, and new traders enter the long side of the trade. This causes a huge surge in price - as the area of resistance is so important.
If you are positioned to get in as the breakout occurs, your risk is low, and reward high.
Many traders don't want to do this - they feel they are "chasing" the move, and want a pullback - it never comes, and they miss the big profits.
Keep in mind the old saying:
"A trend in motion is more likely to continue than reverse"
Check Your Charts
Most of the big currency moves in history have started with breakouts on the chart, then a huge quick move to the upside - with no PULLBACK
Big Currency Trading Profits can be yours!
Here we have looked at the concept, and why it's successful, and you can see how uncomfortable it is to do - and that's exactly the reason it's so profitable!
Breakout Trading is Simple
All you need to use to trade breakouts, are traditional charts - and have some confirmation signals, to help you filter "true" from "false" breakouts - such indicators as RSI and Bollinger bands, are examples.
Astute traders are making huge profits every day from this simple method and you can too.

 

What are you really selling or buying in the currency market?

The short answer is nothing. The retail FX market is purely a speculative market. No physical exchange of currencies ever takes place. All trades exist simply as computer entries and are netted out depending on market price. For dollar-denominated accounts, all profits or losses are calculated in dollars and recorded as such on the trader's account.

The primary reason the FX market exists is to facilitate the exchange of one currency into another for multinational corporations who need to trade currencies continually (for example, for payroll, payment for costs of goods and services from foreign vendors, and merger and acquisition activity). However, these day-to-day corporate needs comprise only about 20% of the market volume. Fully 80% of trades in the currency market are speculative in nature, put on by large financial institutions, multi-billion dollar hedge funds and even individuals who want to express their opinions on the economic and geopolitical events of the day.

Meaning of Trading in Pairs

Because currencies always trade in pairs, when a trader makes a trade he or she is always long one currency and short the other. For example, if a trader sells one standard lot (equivalent to 100,000 units) of EUR/USD, she would, in essence, have exchanged euros for dollars and would now be short euro and long dollars. To better understand this dynamic, let's use a concrete example. If you went into an electronics store and purchased a computer for $1,000, what would you be doing? You would be exchanging your dollars for a computer. You would basically be short $1,000 and long 1 computer. The store would be long $1,000 but now short 1 computer in its inventory. The exact same principle applies to the FX market, except that no physical exchange takes place. While all transactions are simply computer entries, the consequences are no less real.

Great Returns in Currency Trading

The opportunities for unmatched returns and investment protection in the brave new world of foreign currency investing are second to none. In Foreign Currency Trading, financial executives Russell Wasendorf, Sr., and Russell Wasendorf, Jr., describe foreign currency trading in plain terms, and help you understand the risks, benefits, and operational requirements that you will need to take advantage of this market's tremendous potential. Look to Foreign Currency Trading for clear explanations on the mechanics of foreign currency trading, in-depth discussion of all pertinent foreign exchange rules and regulations, and a comprehensive glossary with literally hundreds of terms essential to forex trading. With formerly imposing currency trading restrictions having been struck down in recent court rulings, the world of foreign currency trading is an exciting and rapidly-expanding field.

Bollinger Bands - How to Use Them to Make Massive Profits

Bollinger bands will help you to predict big trending moves, act on big trend reversals and finally, time trading positions with Greater accuracy for bigger profits.

Here info we have related Bollinger bands to the currency markets (as it is here That They Are Most useful) - but They are useful in all financial markets.

What are Bollinger Bands?

Developed by John Bollinger, Bollinger bands are volatility bands drawn around a simple moving average.

You calculate Bollinger bands using the standard deviation of price over the same period as moving averages and plotted as lines above and below the moving average.

As moving averages Have Been traditionally used to identify identity the Underlying trend, Bollinger bands combine this With The volatility of the single market (or the standard deviation) - to plot a trading envelope.

The Distance between upper and lower Bollinger bands Reflects the volatility of the market traded.

As Themselves force prices away from the longer-term average, the standard deviation rises - and Malthus the bands will fluctuate in varying Amounts, away from the average.

Why Bollinger Bands Work

In any market, the value of currency traded Tends to rise slowly over the longer term.

Prices May spike short term, but will normally dip back to the longer term moving average (the center band) - which dealer to realistic value.

The volatility of the outer bands THEREFORE Gives us an indication of how volatile prices are - and how far away price is from longer-term value.

Most price spikes are Caused as much by trader psychology, as the supply and demand backdrop - And This scenario is Reflected in the concept of Bollinger bands.

Why are Bollinger Bands so useful?

Bollinger bands perform three major functions for traders:

1. Spotting a Breakout and New Trend

Markets move Between low volatility trading ranges, to high volatility trending moves.

When a market makes trades in a narrow range, the Bollinger bands will narrow together And This shows a market with extremely low volatility - this is a warning however it That a high volatility trending move is likely to follow.

When prices break above or below the upper or lower band, it is an indication That a breakout and trend is acerca to Develop - traders will then take a position in the direction of the breakout, and try to ride the trend.

Two. Timing Entry Levels in a Trend

We all know long term currency trends last for months or years - but we need to get in at the best risk / reward level.

Bollinger bands will help get you in to the trend and time your entry.

All you do is watch for dips Toward the center band - and enter in the direction of the trend - it really is That Simple!

To time your entries with Greater accuracy, and filter out "false" breaks we recommend using a momentum indicator -: such as stochastics, to confirm the move.

Three. Spotting Market Reversals

When the price touches the top of the band, a sell is generated, and prices Should revert back to mean, or the middle moving average band.

If the price touches the bottom of the band, traders can buy a currency, Assuming That it is oversold, and will rally back towards the top of the band.

The spacing, or width of the band, is dependent on the volatility of the market, but traders Gives a clear indication of where prices will go, and when to enter.

A Word of Caution!

Bollinger bands are a useful tool - but need combining With Other indicators, as With Any single indicator, They Should not be used in isolation.

We personally feel Bollinger bands Should be used with basic charting, to get the big picture - and the best timing indicator is the stochastic As stated, to filter out "false" signalsA

Trading plan

Trading plan

What is a trading plan?

A trading plan is a set of rules that cover all aspects of trading,

Define clear what you should do and how and when

Trading plan that reflects your personality as trader

Capital Management

The way you work

Previous mistakes

Notes      

Goals

Trading plan should not be large or many details by the start but can start as simple as a list of small private functions in a way that your business steps your business in the market

 

Why should there be trading plan?

Control your emotions

 Because emotions sometimes intervene to trade and be the leader of the shops and this often happens if there is no plan built sets all the rules and steps Mtagerth and help him to make a decision based on the movement of the market and not based on personal emotions

 Avoid errors

One of the biggest benefits plans trading it helps trader not to repeat the mistakes and stay away from deals uncertain and based upon less than deals losers and protect stores that turns system  of  trading to a semblance of the game Snakes and Ladders where trading much winning and losing and winning and losing even out eventually either gain very little unworthy including his effort and time, or even in some cases the result is a loss after he had a high profit rate and based upon shifting from a sniper opportunities to prey to loss

Because he was not able to make a decision when stays out of the market and follows the policy of certain number of transactions less but with greater strength better than random entry and without the benefit of the weak deals

With trading plan every decision or action has a role and a specific time, so even the most difficult cases, shops remains committed to his plan and does not need to think about the decisions you may discover later that it caused the loss of  

Failure to develop a plan, means that you are planning to fail

The difference between the modus operandi and trading plan

Modus operandi / determine entry and exit signals from the market and are usually part of a trading plan as a whole as one of several other basic rules

Trading plan / include All about trading (modus operandi - risk management – work time - target daily / weekly / monthly / yearly) everything

Steps to create a trading plan

Basic rules

Public-private trading rules must not be bypassed and may be based on personal feedback errors occurred in advance

 such as when entering a market not to deal manual intervention based on emotions will be committed pre-defined exit points

 Commitment by pre-defined risk

Special Notes work in a manner approved by

It is recommended that these observations are placed elsewhere clearly visible in front of stores to remind Permanent It can be used to put it on the screen or the desktop

Psychological and physical preparedness

Mental state Are you a good mood allows you to trade?

Did you get enough sleep and rest?

If you do not answer to both questions is yes then it is better not traded this day because you're not ready, otherwise you will risk that the ratio of the failure of your transactions for the day higher than any other time

Preparation

Preparation for a day / week a new work

Preparing for a new work, whether on a daily basis or weekly is one of the most important steps of the trader where the professional building a general idea of ​​the events anticipated for this period and the most important economic data is expected to be issued and the extent of its expected impact on the movement of prices,

On the other hand, is preparing its own chart (identifying the most prominent points of support and resistance expected - determine the general direction of the

Setting Target

Target profit for trading is placed by trader themselves according to his conviction and are advised to be average and achievable depending on the nature of trader himself

even a support to him and not a source of frustration in the absence achieved with faith full that livelihoods in God's hands alone, but set a goal is essential in order to be an incentive for trader to reach him and commitment to the plan set

Target are divided into two parts, the Target for the short term (weekly / monthly) gradually going down to the second part, a long-term goal (half yearly - Yearly

 Financial management

Plan includes trading to determine the method of portfolio management, which includes the identification of points, such as the rate of profit to risk and which must not be less than 2 to 1 Any profit twice the proportion of risk so that the final result profit even if permeation deals some deals losing because the loss is an integral part of the market

Determine the number of transactions that are entered into by the method used and the percentage of loss that can accept them out of the example portfolio contains $ 1000 capital, accept owner risk losing $ 100 maximum during the day and uses the method gives the signal to two signals per day in this case is divided amount of $ 100 on the number of opportunities 2 = $ 50 max for each transaction loss

Determine a plan for the withdrawal of profits or reinvested and dates Payouts monthly / quarterly

Modus operandi used

The action plan contains illustrative explanation of the method used and the steps how to analyze the market and signs of entering extraction

Determine the mechanism out of the deal Balhalten profit / loss

Couples used

Notes from previous opportunities (previous mistakes - accumulated experience)

Work time favorite way

Codification deals

Very useful to add part of the action plan to identify the results of transactions and observations

To take advantage of the deals coming to avoid past mistakes

Also benefit assessment method used and whether you need to be further developed

Ultimately must reflect the plan trading personality as trader and not anyone else what works with you may not fit with the others, and vice versa and this is one of the biggest mistakes that traders novice when judged on the same or even the entire domain failed because he was unable to make a profit in the same way work employs another person and achieve huge profits touted by everyone, look for yourself and what works for you so you can achieve succes

 

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How to be excellent forex trader?

Earn more money with forex
1)      Before entering the market should determine the general direction of the major trend and market the current trend according to the latest closing

2)      Make sure of the highest and lowest price, news, and figures expected today before starting any activity and to avoid entering into the market with figures with a sharp impact.

3)      If the market Ascending must avoid selling and looking for any decline and bought, and vice versa.

4)      If the direction of the market Ascending and stopped at the highest price did not move, but a few down do not expect that the market does not have the ability to further climb but predicted he was preparing for another attack.

5)      If the market closed at the highest price or the lowest price and did not open the next day with a gap …you to trade in the opposite direction… if the market was closed on high, it must sell and vice versa

6)      Select lost 50 points, or 3%, whichever is smaller and after the cheek protection or flip or briefed by the market.

7)      You are the only enemy in the market for yourself you can not hear your illusions and do what you should do and not what you love to do.

8)      Access to the market a big battle… Take all the weapons they can carry you'll need to get out safely.

9)      Select your strategy to enter and exit the market and tested before working out to make sure of their ability to achieve profits.

10)  Not traded against the market and stay with him and bought when boarding and sale upon landing.

11)  Market moves in waves usually every wave ranging between 30 -50 points and goes on until 5 waves in the day and ranges from 150 to 250 points, often with 3 corrective waves in the opposite direction of the primary trend.

12)  Corrective waves of no more than 30 points often and sometimes goes to 70 points, a sign of market weakness and if shortened to 15 points was the main wave very strong and may extend to more than 200 points in a day.

13)  The velocity corrective bounce determines the strength of the main wave and continuity if ended quickly to a distance of more than 60 points of higher or lower price is more likely that these broader wave has ended and possible market that originates in the reverse rebound

14)  Do not fall in love with what you do losing the ability to see the variables quickly and should look at the contracts that you have as an enemy needs be monitored closely

15)      Do not make all your money in one place at one time (do not put all your eggs in one basket) and only diversity without exceeding safety limits every  10,000 $ .. Should not buy or sell more than two decades in one direction no matter how the market guaranteed ... There is no such thing as substance or market price can not be bypassed by a space large.

16)  Focused on the exit point or place is to protect the profits and is expected exit and leave the market to choose

17)  Do not make a winner never turn into a loss no matter how small, and come out even one dollar is better than a loss.

18)  Every day there is a market and profit or loss is the difference between the bid and ask prices ... never chasing the market ... the loss of a chance is better than a loss.

19)  Market is always right and no one can beat the market

20)  There is a sad day and a happy day ... I do not rejoice in days happy, do not cry on the sad days and remember no one always loses or wins always

21)  Correct entry is confirmed by the market gives specific profit immediately, and if dropped a few not afraid will continue to rise unless under pressure News.

22)  If the market started acting strangely after login faster exit at the first opportunity

23)  Use market orders to enter and exit so as to avoid any delay

24)  Beware the market is moving in a narrow range for a week you'll have a huge movement later, especially if 3 consecutive days remained in the narrow range.

25)  Do not listen to anyone in whatever market and listened to what u think is right and remember you are the only one who will pay the price.

26)  Never operate in the market if trading volume is weak and few open-ended contracts Such market lacks liquidity ... which
Very dangerous

27)  History repeats itself ... prices you see today are the dream of others in one day, but where are these others now? May be due prices follows you want, but you may not be present.

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Forex Forecasts ?

Possible risks and profits to be fabricated can consistently be predicted if traders would alone accept added authentic forex anticipation to abject their barter and decisions upon. Forex forecasts are alone one way of befitting up with the airy forex market. The forex bazaar has already been through a lot of ups and downs that alike affluence tellers would accept adversity academic what will be its abutting movement.

 

Authoritative a forex anticipation can be accessible but can additionally be too risky. In forex forecasts, annihilation specific is given. The traders are not fabricated to achievement aerial and apprehend more. If you accept apparent or heard a forex forecast, be abiding to analysis on some projected bulk fluctuations whenever and wherever accessible so you would accept an abstraction it the forex anticipation shows a acceptable achievability to be authentic or not.

 

Staying in blow and abreast with the best recent account and affairs about the apple and advice about the forex bill can advice traders actuate back is the best time to buy, advertise and break abroad from a authentic market. Take agenda of some forex forecasts if alone to serve as adviser whenever you are in a bearings that you acquisition adamantine to accomplish a accommodation upon.

 

How can one account from forex forecasts?

There are some companies that are alms forex anticipation advice as a cable that traders can account of. For those who do not accept abundant backbone and browse for advice in the internet, this forex anticipation advice would be their alternative.

 

No one said that there is a 100% accurateness in these forex forecasts. If you appetite to accept added bulk of accurateness in the forex forecast, you could consistently acquisition one with the best authentic allotment rate.

 

You could attending for article or addition that offers chargeless advice or a aisle aeon for you to analysis the bulk of their adeptness to accord authentic anticipation about the forex market. Relying alone on one forex anticipation is not the affair to do. You should at atomic accept some added choices in the action of authoritative an advance decision. Try to get added forex anticipation from sources that are aggressive online and offline so you would not stick to aloof one.

Do not put the approaching of your forex barter into the easily of alone person. Try to get several forex anticipation and accept the best one that you anticipate has abundant ounces of accurateness up their sleeves.

 

Before putting the approaching of your investments into the easily of those alms forex forecasts, accomplish it a point to analysis out the best recent that is accident in the forex trading and see if the trend is acceptable to go with what the predictions are cogent about.

 

If you anticipate added about it, bodies accomplishing forex forecasts would not be out there giving bad forecasts because their acceptability is the one at pale there. There are still decisions to be fabricated that will be based aloft the banker itself and no bulk or accurateness of forex forecasts can accomplish that accommodation for them.

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7 basic forex rules for beginners

1- Don't use robots

2- Less is more

3- Successful traders make money from larger time frames and trends

4-Don't look  at smaller time frames

5- Don't trade the news

6- Trade what you see not what you think

7-Exits are more important than your entries

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