Friday, August 14, 2009

FOREX RESOURCES - GALLERY 2


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Tuesday, August 11, 2009

Forex Day Trading - 4 Proven Trading Secrets and Strategies

What do day traders look like?

Day traders are defined as traders who place at least one or two trades on average daily.These trades are also to be closed before the end of the trading day to avoid attracting overnight charges like swap and rollover.Brokerage fee for day traders where they apply can be substantially lower than fees for other types of traders.While margins for most traders are usually around 1% of the value in traders account,day traders can face level as low as 0.25%.This means that a trader can trade say $10000 worth of currencies from an account of only $100 with a high leverage of 1:100,which is 1% margin.Also, given 1:400 leverage, the same $10000 can be controlled with a slow as $25 which is 0.25% margin.Sometimes,we even have $10 exposure particularly when trading the Yen on micro lot contract.

Tips for Surviving And Thriving as a Day Trader
Active traders must agree with me that day trading is not easy,particularly when your sustenance is based on what you make from trading currencies or any other commodity online.The battle for survival gets tougher by the day with increasing market volatility and deepening global financial crises.But there is a way out for those who heed good advice.

The five common strategies adopted by traders who seek to make and multiply profits are as follows:
Trend Following : This strategy is used by most trading firms and individuals.It is assume that currencies and securities that have been rising steadily will continue to rise.They the seek to enter the market on what Fibonacci Traders call Retracements or pull backs/corrections.When a trader who is a trend follower discovers or realizes the market trend is up,he only waits for the price to correct or come down significantly and the joins the secondary trend before it resume sits upward movement.Trend traders assume there are three types of trend in any market; the primary or major trend, Secondary trend and the Minor or counter Trend. The Primary Trend is the major trend of the day ,week or month depending on which time frame a trader chooses to trade from and what he considers the big picture of the market,while the secondary trend is the resumption of the main trend after the market has ended its retracement or pull-back.The minor trend is movement in a direction that negates the main and secondary trends.If the major tren is up then falling prices become a minor trend and most times do not last as long as the primary trend.Quite often we may see the primary trend retracing as much as 50% to 61.8% of the previous movement of the main trend befor the correction ends.You could develop this strategy with proper education and practice using the right trading tools.You may need he following tools; Fibonacci Retracements,Trend lines ,Average Directional movement Index etc.

Playing News : This strategy is to buy or sell a currency or security of a country which has just announced good news for the economy.An example is what happened during the third week of February 2009.President Obama's fiscal Stimulus bill had just been approved by the congress.The news of this event made waves during the weekend that gave birth to the third week and the week witnessed the US dollar recording multiple week highs against all the major currencies around the world for three consecutive days.It was noted that the markets simply moved against all technical forecast because of the information coupled with the other fundamental news that where not favorable to the pounds sterling or the Euro .One great strategy you can learn to profitably apply to your trades when trading news is Straddling.

Range Trading: With this strategy a trader seeks to buy when the market ranges into the over sold area at a support level and sells in the range again when the market has ranged into an overbought area at a Resistance level.Hedgers also use this when they are not sure what the market is up to.Sometimes this range movement may make up to 50-70pips range and can be used to build great portfolio.Pivot point analysis and Oscillator like stochastic Oscillator might be useful here.

Scalping: This is commonly defined as a very quick trade.A scalper may simply operate on either the 1 minute,5min or 15minutes time frame,taking only about 5pips to 10pips per trade and enter into as many as 50 trades per trading day.The use of multiple and large lot sizes can make this strategy very rewarding as well as very risky.You may consider integrating it into your trading plan and thrive as a day trader.

Friday, August 7, 2009

Demistifying Forex Trading -13 Secrets For Maximum Profits

The following guided secrets are the building block for a consistent profit making. Application of these secrets can never be over-emphasized and should not be taking with levity.

1. Do not over-expose your account maintain an account exposure of between 10% and 30%.

2. Always trust God to find and join the trend early. Also learn to test the strength of the tend using ADX (Average directional movement Index)

3. Understand your best entry and exit points using pivot points and/or Fibonacci Retracements

4. Understand the key Japanese candle stick reversal patterns.

5. Know when the market is flat or when the trend is weak and trade accordingly or stay away

6. Only use take profits according to predetermined market potential

7. Buy only in Oversold markets: An oversold market is one in which there no more securities to sell are or a great majority of the sellers (Bears) have left the market. Some technical indicators can help in determining this, e.g, Stochastic Oscillators, RSI etc

8. Sell only in Overbought markets: An overbought market is one in which there no more securities to buy are or a great majority of the buyers (Bulls) have left the market. The same technical indicators can help in determining this.

9. Never entertain fear even when the market moves against you, if you have a good trading system it will surely come back in your favor

10. Never be greedy show contentment in all your trades and this demon will be far from you

11. Do not over trade; learn to draw a line between overtrading and fear.

12. Always pray before making any trading decision: There is always a guiding light from God if only you trust in HIM

13. Rely on the Holy Spirit for guidance: He is very dependable and will never leave nor forsake you, if you surrender the battle to Him.

To your online Forex trading success - D Cybertycoon

STEVENS ADEOLA SALAMI

Friday, July 31, 2009

FOREX RESOURCES - GALLERY 1

For your trading convenience,profit productivity and overall success,we have made available scintillating money making forex resources to enhance your trading performances.Remember at online forex strategies blog, your success is paramount to and that's the reason,I have gone this far to make available a gallery of forex materials for your comfort.








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Wednesday, July 29, 2009

GRAB THE SECRET THAT GUARANTEES UNENDING RICHES FOR YOU AS A FOREX TRADER

This a blueprint for making over 300% pure profits annually. Have you ever sat down to ask yourself WHY in the first place you want to trade Forex, if you are contemplating joining the forex market or WHY are you trading forex,if you are already a forex trader. The flux of people in and out of the Forex market in the past few years has been alarming. Many came, saw and where conquered, this is really sad but it’s the truth. Many hopes have been dashed not because Forex trading have ceased to be what its supposed to be, NO! .But because some have failed to do what they ought to do, besides thinking it is a get-rich quick scheme.

I will e reveling the secrets that will change your trades and will put you on the path to endless forex riches. The secret is very simple but I will advise you work it along as you read this lines. Firstly write down the reasons why you want to trade Forex. How many why’s have you written down 1, 2 7, 10? Please take this exercise seriously. You why may take this format

1. I want to be financially free

2. I want to become discipline

3. I want to conquer my fears

4. I want to be a leader that delivers great results

5. I want to provide adequately for my family and dependants

6. I want to give money to the cause I support

7. I want to increase my net worth by 1000%

8. I want to become more logical in my decision making

9. I want to associate with successful and influential people in the society

10. I want to build business with a strong financial base.

Your why list may look similar or different from the above, But I want you to go over the list again and pick any one that is most important to you and is certain to change your life. For instance as a forex trader becoming disciplined is very crucial to making lasting profits. The reason I picked discipline among the lot is not far fetched, you need to be consistent with your trading plan and also reach your trading goals, each month and through the year. What’s your trading discipline like? It doesn’t matter how small, can you beat your chest that you will consistently make 400pips with 10% exposure and 1% to 3% risk each month? This is where discipline begins.

Assuming you get started with $3000 as trading capital, maintaining a discipline approach of exposing only 10% of the account total per trade you will end up trading 0.3 volume or 3 mini lots per trade, your stop loss will be also be a maximum of $90 per trade. What this implies is that you have to look at a risk area that affords you the luxury of placing stop loss at a maximum of 30 pips where 1 pip equals $3,with a reward of 60 pips from such trade to achieve a risk-reward minimum of 1:2.Now if I can risk this much and the trade does not have the potential of 60pips,then a discipline mindset will instruct me to avoid the trade and look further for better opportunities.

This might reduce the number of trades you take per day as well as minimize your risks and losses. Assuming you spot a good trade and you take just 1 trade per day and you gain 60pips daily. Using $3 as your multiplier;60*$3=$180 per day, if this is consistently done you will have 300pips per month (there might be days you wont find good trading opportunities since your disciplined mind will guide you always to great opportunities) and by the 7th trading day which might be in the 2nd week you will have about 420pips.With this result a disciplined mindset will tell you to stop trading as any further trading will be tantamount to over trading. Now multiply $400pips by $3 for every month, you will have $1200 each month, this is over 300% pure profits. Investing more will mean bigger profits and ROI afterwards.

Think of what this will do to your trading career as you become a disciplined trader who sets goals and sticks to the goals until you achieve them.

1. You have created a system that will generate enough money to give you financial freedom over the next few years.

2. Your confidence will suddenly soar as you now know that you can achieve a trading feat which over 95% of traders struggle but cannot achieve year in year out.

3. You will join the elite group of consistent profitable traders.

4. You would have conquered your fears that may have been keeping you back

5. You can now start building your net worth with the professional guide of a financial planner

6. You can now give happily to your favorite course since you now know how to make the money

7. You can as well start building other business around your trading skill until the business can operate successfully with greater profits without you being physically involved in it.

8. Your family can now be a happy one financially

9. Becoming disciplined as a trader also helps you apply logic in your decision making process rather making emotion-based decisions.

To your online Forex trading success - D cybertycoon
Stevens Adeola Salami

TRADING PLAN: THE BEST TRADING TOOL EVERY TRADER NEEDS FOR LONG TERM PROFITS

The quest for the "Holy Grail" perfect trading system among forex traders around the world has turned forex trading into a money drainer rather than money maker for a great many people. The main purpose on this topic is to bring to the knowledge of millions of traders, one of the most important ingredients every trader must have to survive in this very market .After reading this piece your endless search for the best trading system in the forex market will come to an end. I will be giving you clues that will sustain you for the rest of your trading career without you loosing your shirt or house.

As you read i am sure you are very eager to learn and master the trading system that has been adjudged by every seasoned professional trader as the best in the world. It beats my imagination how a lot of people jump into forex trading without it, expecting to survive the ups and downs in the market. Little wonder so many have gone hidden because they violated this rules and where not able to use the power of this great tool.

Truth is no matter you profession, no matter your calling or the kind of strategy you want to apply, you will make no headway without this powerful weapon. You may even be aware of this potent strategy but failed to recognize it, but I want to assure you that you make up your mind to start using this powerful tool, you will sooner or later be converting all loosing trades to unimaginable profits. Now lets get it proper

A GOOD TRADING PLAN

You must have heard it said several times over, "plan your trade, trade your plan". Unfortunately this is what all most traders know and nothing more. Its about using a good trading plan, and not many know how to even stick to its components.

WHAT IS A TRADING PLAN?

A trading plan is a trader's guide or roadmap to the successful accomplishment of his trading dreams without it you are lost in the market.

WHY YOU NEED A GOOD TRADING PLAN

Just two reasons for having a good trading plan will do here: First it keeps you in the right direction and seconds, trading is business and all successful business always have plans.

COMPONENT OF A GOOD TRADING PLAN

There are basically six components of a descent trading plan. The following are the checklist:

1. Your trading goal

2. Your mindset

3. Your weakness

4. Your trading routine

5. Your trading system

Your trading journal

EACH OF THE ABOVE components is very vital to your trading success. Develop them and half the job is done, develop the discipline to follow your plan and your success in trading is guaranteed.

To your online trading success- D cybertycoon
Stevens Adeola Salami

Friday, July 24, 2009

BUILDING A FORMIDABLE FOREX TRADING NETWORK TEAM

Forex Trading if you don't know is the largest financial market in the world with a current monetary daily turnover of $3trillion dollars,this is quite mind boggling and interesting too,so much money to be made.The question is how much can you tap from this gold mine?

Majority of traders employ different strategies and systems to trade,like the Fundamental and Technical trading methods.Not withstanding you need a consistent trading strategy that suites you regularly and at the same time pumps money into your account non-stop.This is the reason for this blog.

We will be sharing together the strategies needed to perform and also improve better in your trades,tips,advice and success capsules to back you up in your trades.I can assure you your trades and trading account will grow from hundreds of thousands to millions of dollars.All you need do is stay hooked to this blog and you will be glad you did.

We will together build a formidable and successful network of Forex traders world wide.Once again welcome to the largest Forex trading network on planet earth.
To your online forex trading success,
Cyber tycoon