successful फोरेक्स trading strategies

Forex Trading could be as simple as it is advertised, but before you venture into online forex trading, kindly demo trade by downloading the trading platform from any reputable Forex broker's website.

I highly recommend that you only open an account with a registered broker. Having said that, most forex brokers provide ''free of charge'', an online forex trading platform that is integrated, with decent charting software. I believe you can consider the data reliable and the order of execution proper as long as you are dealing with a registered broker. However, some forex trading platforms and charting software are more intuitive and easier to use than others. So, in selecting a broker, you want to open a demo account first and get a feel of that broker's platform to see if it is comfortable for you. You will be able to determine this with a little paper trading over a few days and weeks. Also, you want to be sure that your broker's charting software is able to plot the indicators that your trading methods call for. Most will be able to do this, but not all.

Warning! Do not open a live forex account when you are demo-trading because you could be tempted to trade live without adequate knowledge.

Select the pair of currencies with which you wish to make a forex deal.

Determine the volume (the amount of the deal).

Deposit the "margin" {collateral} needed to facilitate the deal. Usually, this is only a very small portion of the whole deal, say: 1% or 1:100. Before you finally activate the deal, you can still "freeze" it for a few seconds. That enables you to either change the terms, or accept them as they are, or all together, regret the whole deal.

When your forex deal is running, you can monitor its status and check scenarios online whenever you wish. You may change some terms in the deal or close it. Ultimately, you remain in control and only you can decide when the tune is right to cash in your profit. Some forex brokers will even let you determine a "take profit" rate, with which the deal will close automatically for you

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Forex Trading: How to Earn a Living With Forex Trading?

If you're still working at a 9 to 5 job, feeling that there's no end of working for people and no freedom to do what you want to do, why not think of something new which can give you all this? Forex Trading is one of the ways that can help you and your family.

For your information, Forex Trading is the LARGEST market in the world. Yes! You read it right, it's larger than stocks, future, options combined together. Forex Trading have over USD1.3 trillion per day and the amount is increasing now and then.

Forex Trading or currency trading or foreign exchange (short form for forex) simply means buying or selling a pair of currency. In forex trading, we buy or sell in a pair of currencies. For example, in EUR/USD pair, if you're buying this pair, you're buying EURO while selling USD and the other way around.
The best thing about forex trading is that you earn no matter the market is up or down provided you are in the same side of the market movement.

You might be asking, is it easy to trade forex? Well, it's simple yet not easy. However, if you have certain knowledge about it, you will have a handsome profit. Warren Buffet gaining big profit in forex!

If you've been to bank or watch the business time tv news, you'll notice that there are figures like 1.2345 up or down. That's the price of currency pair. One move of the last digit (we call it 'pip') is either approximately $1 or $10. Everyday the average of the price move is around 70 to 130 pips. That could be your profit of $70 to $130 or $700 to $1300 per day!

See the potential of forex trading earning for a living for you? Now, go to www.google.com and enter 'forex trading demo' and get a forex trading demo to have a look at how the forex trading looks like. Play around with the platform and see what happens. Don't worry, your account is just demo and the money is not real money also.

For real forex trading, all you need is just $200 to $300 to get started. However, before you trade forex with your real money, learn what you need to know first, then only trade with your real money or else you'll regret. Over 90% of the trader lose their money of the first trading

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Online Forex Trading Can Make You Rich, But Watch Out

Foreign currency exchange trading (Forex Trading) is creating a lot of buzz in investment circles, because it's making many people very wealthy. Unlike the New York Stock Exchange, the forex trading market is open twenty-four hours a day. You can literally trade from sun up to sun down in the forex market.

The reason why so many people want to learn how to trade forex is because they hear stories about average folks, who have become forex traders, putting some money into a few good trades and making themselves a bundle - we're talking thousands of dollars.

Is this kind of success in currency trading possible for you?

Yes, and no.

Yes, it is absolutely possible for you to learn how to analyze the forex market and pick winning trades. However, this success will not come overnight and will not come without some study and practice on your part.

Was that a buzz kill?

I hope not. It's just a little cold water being splashed in your face. Look, online forex trading can be a little like gambling in Vegas. You've got your cash on hand, you're sitting there at your computer looking at all the forex charts and currencies: dollar, yen, euro, etc.

You're just itching to make some trades and even though you're still green under the gills, you're ready to jump in on that hot tip you got from your fellow forex trading buddy. The rent money's due and you've got bills to pay, but you just know that if you make this one trade - you'll make big bank!

Okay, this is where the excited new forex traders get happy, go all in and then . . . lose lots of money they can't afford.

That's right. While experienced forex traders are making nice profits on that hot tip, the newbies are getting wiped out clean, because they really don't know what they're doing and are betting their hard earned cash based on pure emotions. The first thing you need to learn about trading currencies is that you should NEVER make a trade like a gambler sitting at a roulette table letting it all ride on red.

The best forex traders are the ones that know how to keep their cool.

The best forex traders also learn how to read the forex news and analyze what trades they think are best given certain market conditions. Another golden tip is that you should never invest money that you need to keep a roof over your head, food in the fridge and the lights on at home. People who do this are gamblers and we already know that gamblers lose most of the time.

Successful forex traders have learned to risk no more than 2-3% of their total forex trading account. So, while they may make thousands, these investors have learned how to build on their success. When you have a winning trade, you take that money and invest it again and again.

To be safe, while you are learning how to trade in the forex market, you shouldn't use real money period. You can open a demo forex trading account and make your trades without risking a cent. This way, when you lose, you can study that mistake and try to correct it. While all investors, even successful ones, lose money, you'll be learning how to minimize your losses and increase your winning trades.

A good online forex trading system will show you the ropes and teach you how to look at trends and study market movement. You'll also learn how to put in a strategic stop loss to keep you from losing too much money when the forex market goes against you.

When the time is right, and you are confident you can trade successfully (with a cool head) using real money, then jump in and go for the gusto

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The Best Hours for Forex Trading

Forex (foreign exchange) is a highly dynamic market with lots of price oscillations in a single minute, this characteristic of the Forex market allows traders to enter the market many times a day and pull some profit from these number of trades. If you want to find an appreciable number of profitable trades you need to enter the forex market at the best period of time, i.e., when the activity, the volume of transactions, is the highest. More information can be found at http://www.1-forex.com

The main timing characteristics of the Forex market are the following:

* The Forex market is a 24 hour market – It starts from Sunday 5.00 pm EST through Friday 4.00 pm EST. Rollover at 5.00 pm EST

* Forex Trading begins in New Zealand, followed by Australia, Asia, the Middle East, Europe, and America

* The US & UK account for more than 50% of the market transactions

* Forex Major markets: London, New York, Tokyo

* Nearly two-thirds of New York activity occurs in the morning hours while European markets are open

* Forex Trading activity is heaviest when major markets overlap.

From this timing facts, it is quite visible that at any given time, somebody somewhere in the world is buying and selling currencies. As one forex market closes, another forex market opens. Business hours overlap, and the exchange continues as day becomes night and night becomes day.

The great liquidity of Forex (foreign exchange), combined with a market that's traded 5.5 days a week around the world, offers you an exceptional independence and choices to trade Forex when you want to and not when the market wants you to do it. Trades always develop with relatively the same frequency, regardless of time. As long as the Forex market is open, there is about the same probability that you will find a trade, whenever your look for it.

During each trading day, the total Forex “volume” is determined by the number of markets that are open and the times each of these markets overlap one another.

Forex market volume of transactions remains high during the whole day, but peaks highest when the Asian market (including Australia & New Zealand), the European market and the U.S. market are open simultaneously. And these are forex trading hours you must target in order to find the highest possible amount of profitable trades.

This is the breakdown of OPEN Market Times for your reference:

• New York Market trade times: 8am-4pm EST
• London Market trade times: 2am-12Noon EST
• Great Britain Market trade times: 3am-11am EST
• Tokyo Market trade times: 8pm-4am EST
• Australia Market trade times: 7pm-3am EST

If you pay attention to the last schedule you will notice that there are two times when two of the major markets overlap during trading hours; between 2am and 4am EST (Asian/European) and between 8am to 12pm EST(European/N. American).

So here you have it, if you want to find a great number of profitable trades, focus on the hours when the markets tend to make their biggest moves, i.e., during these big markets overlaps, which therefore, are usually the Best Times to Trade

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CURRENCY TRADING BASİCS: 10 Mistakes You Must Avoid to Win at Forex

Here we are going to give you some currency basics and this involves 10 essential tips you must do and 10 tips on common mistakes which you must avoid to enjoy long term currency trading success.

Let's start with 10 common errors you just avoid.

1. Don't Day Trade

It doesn't work because short term volatility is random and prices can and do vary anywhere in a day and you have the odds firmly against you and will lose longer term.

Ever seen a day trader with a long term track record of success? No neither have I, so avoid it and trade longer term trends where you can get the odds on your side.

2. Don't Try and Predict

Predicting is simply hoping and guessing and won't get you far - trade the reality of price change. No one knows the future and your predictions will end up as accurate as your horoscope!

3. Don't use Science

Don't believe anyone who tells you markets move to a scientific formula they don't - if they did we would all know the price in advance and there would be no market.

Trading is a game of odds - not certainties, but you can win if you know and trade the odds. You won't win every trade but over the longer term you can pile up huge FX profits.

4. Don't Trade Scared Money

If you can't afford to lose stay away, forex markets are extremely risky and if you are worried about losing your discipline will break down and you will lose

5. Don't follow a guru blindly

To follow a forex trading system you must have confidence in it and know how it works or you won't be able to follow it with discipline - if you can't follow it with discipline you have no system at all.

6. Don't believe experts

News stories are convincing - but that's all they are stories from journalists and they are normally dead wrong about every major market turning point. Don't believe everything you read!

7. Don't buy low and sell high

Great theory - doesn't work, it means you must predict again where highs or lows will form.

The fact is most major market moves start from new market highs NOT market lows. Learn to buy these breaks as the odds are in your favor and you normally see huge trends develop if, the breakout is from a valid resistance level.

8. Don't complicate your trading system

Simple systems work best, as they are more robust in the face of brutal market conditions - over-complicate your forex trading system and it will have too many inputs - which will break.

9. Acquire Knowledge for the sake of it

You will often hear people say "the more knowledge you have, the better" - but in forex trading you need just the right knowledge.

You don't get paid for work rate you get paid for being right and that's it.

10. Don't overtrade

Most novice traders simply over trade and lose.

They think the more often they trade with their forex trading system, the more chance they have of winning or if they are in the market they are bound to catch a major move - dead wrong.

You don't get a reward for trading often, so don't - only trade high odds set ups, be patient and wait for them.

If you want to learn forex trading correctly and get the right forex education, to enjoy forex success these are all errors to avoid. When developing your forex trading strategy keep the above points firmly in mind, these are the basic errors of currency trading and must be avoided if you want to get on the road to regular profits

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How to Use Leverage in Forex Trading

How to Use Leverage in Forex ट्रेडिंग

Understanding leverage and how to use it can be the difference between you going broke very quickly and you actually making money. I occasionally read a forum post where some guy claims that he made x amount of dollars trading forex with a 100:1 margin and while it is possible, it is also extremely risky. Most beginning forex traders simply don't understand what they are betting when it comes to leverage. Forex trading can be extremely risky and the higher the leverage the higher the risk. Hopefully after you have read this, you will understand why playing with a high leverage is alot like playing with a loaded gun.

I have one caveat to say before we enter this realm. Just like sports gambling (something that I know a thing or two), forex trading can be a goldmine for those that understand the risks associated with it. With just a little knowledge on how things are run and with a couple technical indicators, you can make money on the FX market. However, just like sports gambling, if you bet the farm on one game and lose, you are taken out of the race. The foreign exchange market is no different. And the fact that you can leverage large currency amounts (lots), makes this endeavor very risky. That said, those that profit the most understand when to take risks and when to sit it out. We are going to explore this today...

Understanding how Leverage Works

The forex market works in using PIPs. A PIP is worth roughly 1/100th of a penny. Needless to say, this little amount of money is hardly worth trading, right? Well, in the forex market, most traders will work with lots which is 100,000 units of currency. In other words, if the USD/Euro pair was currently being traded for $1.0054, then one lot would be worth over $100,000 if the trader was risking his own money dollar for dollar (1:1)

Now most traders don't have this kind of capital to trade with. This is where leverage comes in and the confusion begins.

Here is a real world example:

You have $1,000 (which is low by the way) and decide that leveraging at a 1:25 level would be good because you can make a ton of money quickly...pay off the mortgage and retire in the bahamas by next year. At least that is your dream. After all, by leveraging 1:25, you are essentially controlling $125,000 dollars (assuming you are trading lots, not mini-lots because after all, you are a dreamer).

So, you enter a trade, with those dreams of getting rich quick in mind. However, the market moves against you. How much can you lose before you get that margin call? If you answered 2%, you would be correct. So, of the market moves against you and you lose 2% of your bankroll, you will be standing on the sideline with all the other forex trading amateurs wondering what in the heck just happened.

The end result is you get a margin call and are left with two choices:

1. Liquidate Your Account and call it a loss.
2. Add more money to your account.

It is safe to assume that most beginner forex traders don't have the capital to add more money to their account. In fact, most people who begin forex trading just think that it is a way to get rich quick.

Now, while this is a hypothetical example, don't think for a moment that it doesn't happen. Forex trading is full of losers who bet their bankroll without fully understanding the risks. And the worst part is that this margin call that I used in the previous example is conservative....most forex traders trade with 50:1 - 100:1 leverage. Forex is risky folks but playing with such a high leverage and you would be better off taking your chances with jumping in front of a moving train and hoping to live.

How to Use Leverage in Forex Trading

Since we have established that using too much leverage can be catastrophic to your account, let's examine how much leverage you should use when you are trading forex (or any market).....

A good rule of thumb is to not use more than 60% of your margin on any one trade. I think that this is a bit high personally, but you can decide for yourself what kinds of risk you are comfortable with.

If you are just starting out and getting a feel for the market using real dollars, chances are you are going to want to start small. 1:10 leverage is a good place to start because:

• It allows you to actually lose a few trades and still be in the game.
• It allows you to get a feel as to how much leverage is too much leverage for your risk taking.

Pay special attention to point #1. Staying in the game should be your number one goal. If you don't know how to use leveraging in forex trading, I would say that your chances of staying in the game aren't great. Learning how to leverage and when to leverage will most certainly increase your odds of not going broke quickly.

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Forex Trading | Forex Support and Resistance Tutorial

To first begin Forex Trading, you first need to understand some of the basics of the market. For instance, how the market moves, why it moves in the direction it does and how to find a good entry point to start placing bids. Understanding the concept of support and resistance lines will be our first stop.

Forex is a lot like trading stocks and if you have a solid foundation on how the stock market moves, the transition to forex trading will be fairly easy. If you have no idea how it works, this will hopefully give you a layman's viewpoint into forex trading. Best case scenario in this little rant is that you get a clear and accurate understand of how support and resistance lines work and are able to use this to become a better forex trader. Worst case scenario? You completely are stupified (which is not likely) by a concept so simple as analyzing support and resistance lines and decide that forex trading is simply not for you.

Concept #1 Understanding Support and Resistance in the Forex markets

Nothing new here. Just like the stock market, the forex market is nothing more than a battle between the bulls (the buyer) and the bears (the seller). If a currency pair is overvalued, the price will drop (make a correction) until it eventually hits a line of support. If the price is undervalued, then the price will rise until it hits a line of resistance.

Just like the stock market, the forex market tends to trend and repeat itself over and over. For instance, if you were to draw lines of support and resistance over 10 years, you will discover that most currency pairs pretty much stay inline with each other. Most forex currency pairs have a pretty set support and resistance line. When you drop the chart down to a monthly forex chart, it is really no different. The support and resistance lines pretty much follow a trend and as a future forex trader, it is your job to realize this trend.

Support and Resistance lines are nothing more than the top (and bottom) of supply and demand. The forex market tends to stay within these parameters. When they break these barriers, there could be a period of "trader's remorse", and the market either drops back into the broken barriers OR a new support and resistance line is set.

Support and Resistance lines are no more than the bottom and top points of supply and demand. Usually the forex market stays somewhere in the middle.

In order for anyone to fully appreciate this push and pull of the bulls and bears, one needs to think of it as "mini-battles" throughout the day in which the buyers and sellers try to move the market in the direction they want to move it.

Support and Resistance in Forex is nothing more than a constant push and pull from supply and demand and is nothing really that exciting. In fact, if you took economics 101, chances are you have a good handle on support and resistance.

Support levels is the line that define the price at which most forex traders feel the prices will move higher. Pin Pointing support levels is easy...just take a look a the day's lowest prices . These lows usually fluctuate around a certain point. This is the place where the support levels can be found.

Resistance levels is the line that defines the upper level of trading. This is the place where there are more sellers than buyers. Supply and demand at its finest!

It is important that you get this concept down if you intend to trade forex as it is probably the simplest forex concept and one that you can immediately employ, strategy wise. I would suggest that you start out with a weekly or monthly chart as identifying long term trends is much easier than identifying short term trends. Understanding how the forex market trends in a certain time frame is key to understanding how the market moves. This is primarily why you are going to want to use just one forex currency pair WITH a Trading Solutions rather than simply throw in real money.

Concept #2 When does Support become Resistance and Resistance become Support?

Once you can identify your support and resistance points with relative accuracy, the next step is to understand that although trends do happen with forex trading, trends are made to be broken. It is important for you to watch for this. Roll with trends until they look to be reversing. But the million dollar question is "when can you decide when a support or resistance level has been broken in the forex market?"

A lot of traders are going to be quick to pull the trigger when a support line or resistance line has been broken. If you look at the image below, you will notice that the resistance level was broken only to quickly fall back. These pullbacks happen when forex traders are testing the market. This happens and is easily identifiable by looking at the candlesticks.

Did the chart break the line of support or resistance only to retreat back to within its trend? It is easy to mistake the market breaking these points for new established lines of support and resistance. However, when you are determining your resistance and support lines, you need to understand that you want to create them in relation to the way the market is moving ON THE WHOLE, not simply the reflexes that happen from day to day. You want to analyze the trend, not the knee jerks of the market.

So, if the forex market is constantly ebbing and flowing and breaking support and resistance barriers, how do forex traders determine when a support or resistance line is really broken?

There is no real answer to this. Some forex traders consider where the market closes at the end of any given day as a good way to determine if the price has hit a new support or resistance line.

However, this is not always the case. If you used this strategy as a definitive place to determine support and resistance lines, you will get burned more than once. A better way to use support and resistance lines in forex trading is to think of them not as concrete numbers but as zones of opportunity.

So, judging from the forex chart above and supposing that we didn't see it in its entirety but had reached "point A" on the chart where the line began edging its way upwards, breaking the resistance level", would you automatically assume that that should be the new support line? Would you immediately start mapping out new support and resistance lines?

If you were smart, you would hold the phone and wait it out. Why? Because, normally when a support and resistance line is broken, it takes a second for forex traders to decide whether the broken barrier was justified. And this is one of the cruxes that forex trading are forged on and more importantly, it separates the forex traders who make money from the forex traders that don't.

Concept #3 Understanding "Trader's Remorse" in regards to the forex market.....

We've already established that these breaches are just tests in which the buyers or sellers are testing the market. So, let's say you are plotting out your next move. The market has been hovering right at the line of resistance, in which it is reaching "highs" right beyond the line of resistance but closing under the line. Suddenly, it breaks it at a close and starts to move forward.....Is this a good time to place a trade? After all, the forex market has broken the resistance line and therefore should be trending upward, right? Time to grab a pen and start charting out new support and resistance lines, right?......

Not necessarily....Enter "Trader's Remorse" to make trading forex a little more complicated....

If you haven't guessed it yet, the market is moved by people just like you and I and because of this, you need to understand the psychology behind trading forex. I have said this over and over again...understand how your fellow forex traders react to the market and you will have a definitive edge when it comes to forex trading. Don't bother and you will likely be one of the "dead" forex traders which consistently lose when trading.

Understand your fellow trader and how they react = Win

Ignore your fellow forex trader's impulses and reactions = Lose

Okay, so let's take a look at how trader's remorse fools even the more advanced forex traders.

Here is what happens:

When resistance or support lines are initially broken, buyers and sellers start to question the validity of the new price. Does this new price actually reflect it's value? One of two things will happen at this point....

1. The consensus among buyers and sellers is that the new price is not warranted in which the price will start to fall back into the old support and resistance barriers. This creates a "bear" or "bull" trap and it is at that point where those that rush in to buy or sell prematurely will lose because the market quickly falls back.
2. OR the traders/investors will accept the new price, in which a new support and resistance line will be established and the price will start to climb or fall (depending on which line was broken).

A good way not to get hoodwinked into falling into one of these traps is to pay particular attention to the volume of forex trades when it breaks the barrier and then watch the volume carefully after the initial break. Just because support and resistance lines are broken doesn't necessarily equate to an upward or downward trend on the forex market.

• If prices break with an increase of volume and the initial "trader's remorse" volume is low, then the new price will likely rule and a new support and resistance lines can be identified and set.
  
• However, if the "trader's remorse is high on the backend (high volume after the break), then it is likely that many forex traders aren't comfortable with the new line break and it should quickly return back to the old support and resistance levels.
  

I know that this has been a ramble but I really want new traders to understand the importance of identifying and charting out support and resistance lines as this is probably the easiest concepts to understand in forex trading.

Once you understand the concept of drawing support and resistance lines, we can move on to bigger and better things. But understand, that if you completely blow off analyzing support and resistance lines, then you won't be as effective of a forex trader. BABY STEPS y'all. That is what you need to take.

So in summation.....

1. Start studying current forex charts BEFORE you start to trade. Identify the support and resistance lines first with the longer time frames (year and month) and then move down. If you are want to do forex day trading, resist the initial urge to jump right in.
2. Once you have identified the support and resistance lines, chart it out. Do you notice any breaches that first looked like a new line that would be set only to watch it fall back into the old support and resistance frame? If so, check out the amounts of volumes that were sold in that time frame. Now examine the reason why the forex market moved back into its old support and resistance lines.
   
3. Also, once you have moved down to analyzing daily trends, start asking yourself why the forex market moved...was it because of forex news?....if so, make a log of it. You can probably examine the market news and see a pattern.

A couple more points on support and resistance and I am out....

• When the forex market passes through resistance, the resistance point becomes the support point (if it passes the trader's remorse test).
• The more often a support and resistance line is tested without breaking through, the stronger it becomes.
  

It is all about trends, y'all. If you want to trade and be profitable, you need to understand them. Support and Resistance lines can help you identify bullish or bearish trends in the foreign exchange market. Once a forex trader can get a good handle on the basics of support and resistance lines, they will be able to make better and more profitable trades. And as you know, we aren't in the forex market just for our health. As forex traders, we want to make money. Support and Resistance lines..learn how to do them and improve your forex trading potential. I am out....until next time...

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How I managed to earn dollars 10,000 a day by standing upon my head

How I managed to earn dollars 10,000 a day by standing upon my head!!,Kavita Batta

What are you laughing at? Are you laughing at all? I wouldn't be too surprised if many weren’t the least bit ‘tickled’ by such a headline. After all, I’ve seen claims that are as ridiculous, or almost as ridiculous, describing one Home Based Business opportunity or another. I’m really just wondering how much of it people who are searching for that elusive ‘Work At Home’ dream will continue to swallow.

Most would agree that as little as ten years ago, people who worked at home (i.e. earned their living) were a very rare bunch indeed. They were a ‘lucky few’ that had somehow managed to get themselves into a position where they could manage their business and/or market their products from the comfort and convenience of their own home. Of course, the communication and immediate access to information wasn’t available in the average home ten years ago nor were people spending billions of dollars purchasing any and every product imaginable at a fledgling ‘nerd’ hangout called the ‘Internet’.

Now, of course, we all know the story. Thanks mainly to those ‘nerds’ we are here in the millions, all over the world, chasing the same thing. A Home Based Business (as they’ve become known), hoping to realize that dream of total self-sufficiency. We flock in droves to websites touting how simple and how utterly effortless it is to make it to this workingman’s Shangri-La. How simple it is for anyone to escape the ‘rat-race’ and live the comfy lifestyle, virtually naming our own hours and incomes. Nobody has been left out. The unemployed, the unemployable, the disabled, the uneducated, the computer illiterate and the completely illiterate all have the same chance, according to these promises and ‘guarantees’.

Unfortunately, if history has taught us nothing else (and it rarely teaches us because we rarely learn), it teaches us that wherever human-kind is searching for a dream, especially one involving things financial, there you will find the shysters, scammers and frauds. If ever there was an opportunity for them to come crawling out of the woodwork, the Internet is that opportunity. They promise the world and not only that; they promise it in three weeks or less!

According to them you can:

Replace your architect’s income in a month.

Earn ‘six figures’ without selling anything or promoting anything.

Replace your wife’s income with two hours work per week.

Sit back while your unborn child brings in $10,000 per month.

OK the last one is a bit of an exaggeration but not by much! The promises and guarantees are so obviously impossible for the average person, in any business, that I just simply can’t understand how so many people could believe enough to part with good money in order to have a crack at it. But they do it in droves and then come back for more or go somewhere else and try the same thing with a different ‘label’.

If it is so easy, why are only a reported five percent of Home Based Businesses successful? Why isn’t every second person you talk doing it and earning the ‘guaranteed’ incomes, the ‘six figures’? Why are there people struggling, anywhere at all, to make a living? You know the answers as well as I do. In order for any business to succeed it has to be built and nurtured. It takes time, effort and a degree of expertise to get a business working for you. It doesn’t happen overnight and it rarely happens easily and even when it is successful, it takes the same time, effort and expertise to keep it that way. It’s that simple.

I started in Affiliate marketing and it was a very inauspicious start, I can tell you. However, over time and with effort, determination and fortunately, some good advice, I managed to make a modest living online. After learning almost everything the hard way, I decided to write an ebook guide/tutorial about how to get an Affiliate home based business off the ground and working - with minimal financial risk. It has been received well but it’s still early days. I like to think it’s received well because I don’t promise ‘fortunes’ and I only tell people that it’s POSSIBLE for them to achieve their dream of working from home, while earning a reasonable income, if they work at it, follow some simple rules and apply some important principles. That’s all I can say. I certainly can’t ‘guarantee’ anything or promise success in any form. It wouldn’t be fair and I don’t see how anyone else can when it’s almost entirely up to the person as to how successful they’ll be. It calls to mind the old adage. “You can lead a horse to water but you can’t make it drink”. You can advise, instruct, suggest and demonstrate but ultimately it’s up to the individual.
I know there are people who have managed to make ‘super money’ on the Internet but believe me they are the exceptions. They are truly the extraordinary rather than the ordinary. They are the ones who are the ‘lucky few’ because they have done something extraordinary. All I, and most of the other five percent, have done is work at something hard enough with the devotion and determination is takes to make money with a Home Based Business online.

In closing, I must say that there are some very good Home Based Business opportunities on the Internet and they can be quite lucrative for the right people, but the figures would suggest that only five percent of us are the ‘right people’. If it’s not going to cost you a large amount of money or a commitment of ongoing fees or subscriptions, by all means, give it a try but be very careful if you’re asked to fork out a large amount on the promise of an unbelievably huge return. Of course the schemes that promise the outrageous and cost nothing are relatively harmless. They can only cost you time. However, if anyone does come across one that does return huge amounts for little or no outlay, please drop me a line!

I really wish I could get that much money by sending on my head and earn $10,000 per month as much as I wish all those other promises were feasible but alas, it’s called ‘Work at Home’ because that’s what you have to do. You actually have to ‘work’. So next time you see a promise or a guarantee that looks a little outrageous, remember my ‘standing on my head’ claim and have a laugh.

Article Source: How I managed to earn dollars 10,000 a day by standing upon my head!!

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Price Action Forex Trading

Price action is a type of technical Forex trading that is based on the bare prices and charts instead of the usual indicators। Traders that employ various price action trading techniques believe that bare prices and charts can tell us everything we need and that indicators, while being helpful for calculating some statistical dependencies, create a time lag that can be critical in Forex। In fact, all indicators and any other methods are based on the data that is a part of a price action. So, price action is just a broad definition for the rather raw technical market data. The four techniques that are presented here aren’t the full set of price action trading instruments; they are just the most popular and interesting ones.



Tape Reading. The term refers to the times when the stock quotes came to the trading houses (more like the modern betting firms) in a form of a tape telegram. Traders analyzed the changes in the quotes, their speed and volume and, basing on this analysis, issued their trade orders. Modern tape reading in Forex is somewhat different — you just analyze the quote as it’s displayed in your broker’s terminal and then trade using your analysis of the data. It’s the most basic way of trading and some new traders start from it without knowing how is it called. Tape reading is mostly suitable for scalping and can’t be used for the long-term entries.

Japanese Candlestick Patterns. Many different patterns, formed by the Japanese candles, are recognized by the Forex traders. Such patterns are usually quite small (they consist of 1 to 4 candles) and can be spotted on all timeframes. Japanese candlestick patterns aren’t too reliable but the abundance of symbols compensates the low winning rate. This type of trading is a part of price action but it requires some basic chart analysis.

Chart Patterns. Patterns formed by the price fluctuations of the chart are numerous — triangles, wedges, double-tops, double-bottoms, head-and-shoulders and many others are all part of this trading technique. Opposite to the Japanese candlestick patterns these patterns are usually formed by many chart bars and often serve only for the long-term market evaluation. Chart patterns sometimes have a strong fundamental basement and are thus valued by the professional traders and the Forex market tends to «follow» them simply due to their popularity.

Point-and-Figure Charts. This type is a bit more difficult than everything else in the price action domain. It’s also arguable that point-and-figure can be considered a price action technique at all. P&F charts are built based on the price changes, independently on time. The columns of X’s are formed when the price is rising, while the columns of O’s are formed during falling trends. The columns of X’s and O’s follow each after another. A price should pass a certain amount to form an O or X or reverse in an opposite direction for a significantly higher amount to start forming a new column. Trends can be easily read in such charts and many Forex traders use the strategy to buy and sell exactly at the new column’s start to catch the new trend.

Not all traders can use price action techniques successfully, the same as not everyone can trade with the indicators profitably. Price action can be used alone but it also can be interesting for other methods’ confirmation. With price action techniques you can always scale in and out and flexibly change your strategies as well.

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FOREX (Foreign Exchange Market)

The foreign exchange market is also known as FX or it is also found to be referred to as the FOREX. All three of these have the same meaning, which is the trade of trading between different companies, banks, businesses, and governments that are located in different countries. The financial market is one that is always changing leaving transactions required to be completed through brokers, and banks. Many scams have been emerging in the FOREX business, as foreign companies and people are setting up online to take advantage of people who don't realize that foreign trade must take place through a broker or a company with direct participation involved in foreign exchanges.

Cash, stocks, and currency is traded through the foreign exchange markets. The FOREX market will be present and exist when one currency is traded for another. Think about a trip you may take to a foreign country. Where are you going to be able to 'trade your money' for the value of the money that is in that other country? This is FOREX trading basis, and it is not available in all banks, and it is not available in all financial centers. FOREX is a specialized trading circumstance.

Small business and individuals often times looking to make big money, are the victims of scams when it comes to learning about FOREX and the foreign trade markets. As FOREX is seen as how to make a quick buck or two, people don't question their participation in such an event, but if you are not investing money through a broker in the FOREX market, you could easily end up losing everything that you have invested in the transaction.

Scams to be wary of
A FOREX scam is one that involves trading but will turn out to be a fraud; you have no chance of getting your money back once you have invested it. If you were to invest money with a company stating they are involved in FOREX trading you want read closely to learn if they are permitted to do business in your country. Many companies are not permitted in the FOREX market, as they have defrauded investors before.

In the last five years, with the help of the Internet, FOREX trading and the awareness of FOREX trading has become all the rage. Banks are the number one source for FOREX trading to take place, where a trained and licensed broker is going to complete transactions and requirements you set forth. Commissions are paid on the transaction and this is the usual.

Another type of scam that is prevalent in the FOREX markets is software that will aid you in making trades, in learning about the foreign markets and in practicing so you can prepare yourself for following and making trades. You want to be able to rely on a program or software that is really going to make a difference. Consult with your financial broker or your bank to learn more about FOREX trading, the FX markets and how you can avoid being the victim while investing in these markets.

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Forex Trading : How Do You Make Money ?

Forex Trading : How Do You Make Money ?

The FOREX is the most exciting market in the world today.
So how do you make money in this massive marketplace?

FOREX trading is exchanging one currency for another. To buy one currency you must exchange (sell) it for another.
For example, you think the price of the Euro is set to rise against the US Dollar. To enter a trade, you buy Euros and sell US Dollars. To exit the trade, you sell Euros and buy back US Dollars. Hopefully, you were correct in your analysis and the exchange rate for EU/USD has gone up, meaning that you get more Euros back than when you bought them, thus making a profit.
Exchanging rates keep on changing constantly and supply and demand for any given currency, and thus its value, are influenced by economic factors, political conditions and market psychology. Betting on the spreads between countries' currencies by placing "buy" or "sell" orders is what Forex trading is all about.
Choosing your own forex trading strategy you can control a desirable level of your risks and profits.

How to start trading now?
With no commitment or cost, you can open a Virtual Trading Account.
The account has the full capabilities of a "real" account including live market rates, access to real-time market analysis, and the ability to execute trades off streaming prices. The virtual account (or Demo Account) gives you the ability to learn about the forex markets and test your trading skills without any risk. Open up a demo account with "virtual money" and start playing around

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Which Pairs to Trade

Spreads play a significant factor in profitable forex trading. When we compare to the average spread to the average daily movement many interesting issues arise. Namely, some pairs are more advantageous to trade than others. Secondly, retail spreads are much harder to overcome in short-term trading than some may anticipate. Third, a "larger" spread does not necessarily mean the pair is not as good for day trading when compared to some lower spread alternatives. Same goes for a "smaller" spread - it does not mean it is better to trade than a larger spread alternative.

Establishing a Base Line
To understand what we are dealing with, and which pairs are more suited to day trading, a base line is needed. For this the spread is converted to a percentage of the daily range. This allows us to compare spreads versus what the maximum pip potential is for a day trade in that particular pair. While the numbers below reflect the values in existence at a particular period of time, the test can be applied at any time to see which currency pair is offering the best value in terms of its spread to daily pip potential. The test can also be used to cover longer or shorter periods of time.

These are the daily values and approximate spreads (will vary from broker to broker) as of April 7, 2010. As daily average movements change so will the percentage that the spread represents of the daily movement. A change in the spread will also affect the percentage. Please note that in the percentage calculation the spread has been deducted from the daily average range. This is to reflect that retail customers cannot buy at the lowest bid price of the day shown on their charts.

• EUR/USD
  Daily Average Range (12):105
  Spread: 3
  Spread as a percentage of maximum pip potential: 3/102= 2.94%
  
  
• USD/JPY
  Daily Average Range (12):80
  Spread: 3
  Spread as a percentage of maximum pip potential: 3/77= 3.90%
  
  
• GBP/USD
  Daily Average Range (12):128
  Spread: 4
  Spread as a percentage of maximum pip potential: 4/124= 3.23%
  
  
• EUR/JPY
  Daily Average Range (12):121
  Spread: 4
  Spread as a percentage of maximum pip potential: 4/117= 3.42%
  
  
• USD/CAD
  Daily Average Range (12):66
  Spread: 4
  Spread as a percentage of maximum pip potential: 4/62= 6.45%
  
  
• USD/CHF
  Daily Average Range (12):98
  Spread: 4
  Spread as a percentage of maximum pip potential: 4/94= 4.26%
  
  
• GBP/JPY
  Daily Average Range (12):151
  Spread: 6
  Spread as a percentage of maximum pip potential: 6/145= 4.14%

Which Pairs to Trade
When the spread is placed into percentage terms of the daily average move, it can be seen that the spread can be quite significant and have a large impact on day-trading strategies. This is often overlooked by traders who feel they are trading for free since there is no commission.

If a trader is actively day trading and focusing on a certain pair, making trades each day, it is most likely they will trade pairs that have the lowest spread as a percentage of maximum pip potential. The EUR/USD and GBP/USD exhibit the best ratio from the pairs analyzed above. The EUR/JPY also ranks high among the pairs examined. It should be noted that even though the GBP/USD and EUR/JPY have a four-pip spread they out rank the USD/JPY which commonly has a three pip spread.

In the case of the USD/CAD, which also has a four-pip spread, it was one of the worst pairs to day trade with the spread accounting for a significant portion of the daily average range. Pairs such as these are better suited to longer term moves, where the spread becomes less significant the further the pair moves.

Adding Some Realism
The above calculations assumed that the daily range is capturable, and this is highly unlikely. Based simply on chance and based on the average daily range of the EUR/USD, there is far less than a 1% chance of picking the high and low. Despite what people may think of their trading abilities, even a seasoned day trader won't fair much better in being able to capture an entire day's range - and they don't have to.

Therefore, some realism needs to be added to our calculation, accounting for the fact that picking the exact high and low is extremely unlikely. Assuming that a trader is unlikely to exit/enter in the top 10% of the average daily range, and is unlikely to exit /enter in the bottom 10% of the average daily range, this means that trader has 80% of the available range available to them. Entering and exiting within this area is more realistic than being able to enter right in the area of a daily high or low.

Using 80% of the average daily range in the calculation provides the following values for the currency pairs. These numbers paint a portrait that the spread is very significant.

• EUR/USD
  Spread as a percentage of possible (80%) pip potential: 3/81.6= 3.68%
  
  
• USD/JPY
  Spread as a percentage of maximum pip potential: 3/61.6= 4.87%
  
  
• GBP/USD
  Spread as a percentage of possible (80%) pip potential: 4/99.2= 4.03%
  
  
• EUR/JPY
  Spread as a percentage of possible (80%) pip potential: 4/93.6= 4.27%
  
  
• USD/CAD
  Spread as a percentage of possible (80%) pip potential: 4/49.6= 8.06%
  
  
• USD/CHF
  Spread as a percentage of possible (80%) pip potential: 4/75.2= 5.32%
  
  
• GBP/JPY
  Spread as a percentage of possible (80%) pip potential: 6/116= 5.17%

With the exception of the EUR/USD, which is just under, 4%+ of the daily range is eaten up by the spread. In some pairs the spread is a significant portion of the daily range when factoring for the likely possibly that the trader will not be able to accurately pick entries/exits within 10% of the high and low which establish the daily range.

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