My Forex Discovery

My day-trading journey began after I purchased a stock trading course. I followed the course outline and traded stocks in hopes of cashing in on the roaring 90's. When the stock market corrected in 2000, I could not pay the continuous marginals and consequently lost all my money, approx $ 200K!

About 5 years later, I was ready to jump back in the game. This time trading Foreign currencies, the largest trading market in the world. I purchased the 4XMade Easy software (with the green and red arrows) for a heft three grand. In addition I paid a monthly live feed and demo traded for over 2 years but could never foresee with any degree of accuracy the direction of the market. As a result, I ended up on the wrong side of the trade at a loss.

However, I did learn that if I could only stay in a trade long enough by going with the long-term trends, I would make money. But the big problem with following the long-term trend is: you have to have a lot of money in your account to stay in the market during the often occurring reversals.

When I found out about The Freedomrocks system I finally found what I was looking for. During my 15-day free trial period I was really surprised at the simple elegance of the system. I found that it did for me everything that I could never do before. Amazingly, the system allows me to trade without a lot of money to invest, no expensive software to buy, no live-feeds, no charts to predict, no staying up all night when the foreign markets are volatile.



Source by Hans Savitch

Forex Price Movement – Factors That Move FX Prices and How to Make Big Profits

How and why to Forex prices move is basic knowledge that all Forex traders need to know to make money but its surprising how few traders really understand Forex price movement. In this article, we will look at the factors which cause prices to move and how you can benefit from these moves for big profits.

A simple formula for how and why Forex prices is the following:

Supply and Demand Fundamentals + Traders opinion of them = Price

The equation is nice and simple and the facts you need to keep firmly in mind are:

1. The supply and demand factors are NOT the reason prices move – traders opinions of them are.

2. When traders look at the facts, they're not logical, there decisions are colored by the emotions of greed and fear.

3. In conclusion, its traders who set the value of any price and there is not predictable in advance. Forex prices move to probabilities NOT certainty.

So all the traders who think they can trade news stories lose money and all the Forex robots and predictive systems which say Forex markets can be predicted in advance lose money. Today, we live in a world where science enriches our lives and merchants think they can apply science to the markets and win but they lose money, as the markets are governed by greed and fear and what traders do is simply not predictable in advance – so how can you make money?

The smart trader does not focus on trying to be perfect, he focuses on the odds and uses a simple system. Simple systems work better than complex ones, because they have fewer elements to break. The successful trader accepts he will have a lot of losses (even the best traders do) but he keeps his losses small and runs his profits.

The real key to winning at Forex trading is to accept the market is all powerful and right and not arguable with it which most traders do. When they wrong they run their losses and hope they turn around and get wiped. These traders are also obsessed with predicting the exact low of the market and are really hiring or guessing whereas the smart trader waits for the trend to be confirmed before getting on board.

If you want to win at FX trading accept Forex trading success is simply about trading the odds and while you may not win every trade but if you use a simple system, keep your losses under control and run your profits you can make huge gains – it really is that simple.



Source by Kelly Price