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Forex Trading – 2 Simple Tips to Dramatically Increase Profits

Enclosed you will find 2 simple tips that will help you increase your profitability dramatically and they can be incorporated in any forex trading strategy. These tips are not commonly accepted by most traders but as 90% of traders lose, we wont let that worry us!

Let’s look at these two simple tips and why they increase your profits.

1. Don’t Diversify
If you don’t risk much you won’t make much and that’s a fact.
If you have a small trading account all diversification does is dilute your profit potential. If you trade a small account don’t spread your resources to thinly – when you see a trade go for it and hit it with as much cash as you can afford.
You hear a lot of forex guru’s saying you should risk 2% per trade well, if you have a $10,000 account that’s $200.00! If you risk a small amount, you will end up getting stopped out to soon and never catch a major move or profit.
Risk 10 – 20% and be very selective with your trades. Patience is the key, only trade the really high return low risk trades.
Forex trading is all about taking calculated risks at the Right time – if you don’t like taking a risk find another profession.

2. Hold Your Stop Back
This leads on from the above point.
You already know that you have to risk meaningful amounts to make a lot and it’s a fact that most traders try so hard to avoid risk they actually create it.
They wont risk much as we discussed in point 1 and the most common group who do this are day traders, their stops are so close they are almost guaranteed to be stopped out.
The other critical error traders make is they move stops too quickly to lock in profits, as the market moves up.

The Result?
They are simply clipped out by normal volatility and bank a small profit.
Of course, the trade then continues the way they thought and piles up thousands or ten of thousands in profit and their not in!
Get used to holding your stop back, so that you are not clipped out by random volatile reactions.

This takes courage and conviction and most traders can’t do it. Sure they want big gains, but they simply can’t hold a big profit, as they get to excited or worried it will get away, so they bank early.
Hold the longer term trends and hold your stops back and work with a profit target to liquidate.

Dont Be Scared Of Risk
If you are, stay away from forex trading.
The fact is that most traders are terrified of risk, that’s why they only risk small amounts and can’t hold a profit. There risk control is so conservative, that they give themselves no chance of making meaningful gains and their risk control simply ensures they lose.

Author: kelly Price
MORE FREE INFO ON BUYING SLOVENIA PROPERTY For all the facts on Slovenia and how to buy and Slovenia Property visit our website for a comprehensive resource of articles, features and properties at www.sloveniaestates.com
Learn more about kelly Price at www.sloveniaestates.com

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Forex Trading Strategy - 6 Vital Questions You Must Answer To Succeed

To trade to win in forex markets you need a sound and profitable forex trading strategy. Below you will find six questions, if you cant answer them correctly, you will join the losing majority so lets look at them

1. Do you understand and have confidence in the logic?
This may sound an odd question to ask but it’s a fact, that most traders don’t understand their forex trading strategy and will not have confidence in it when it hits a losing streak.
Why?
Because in most cases they are following a guru or mentor and have NOT developed the system themselves.
While developing a currency trading system is simple and anyone can do it, most traders fall for buying an e-book or trading system off the net for a few hundred dollars and expecting to win – GET REAL!
Most of the systems sold on the net are junk and if you think about it, the forex trader selling it wouldn’t have as they would be to busy making money to bother you with it!
The only way to do it is to learn a system yourself and be totally familiar with how and why it works. Not only will you avoid scams, from confidence comes discipline a vital component of currency trading success

2. Is it Objective or Subjective?
When you trade make sure your system comprises of objective rules and not patterns that require to much subjective judgement. For example Elliot wave theory and cycles mean you have to make subjective judgements – when you do this your emotions can get involved and that is a recipe for losses.

3. Does It Trade The Odds?
Do you try and predict if levels of support of resistance will hold and then hope they do?
For example, do you:
Buy just above support or a moving average or sell into a double top?
If you do then you will lose - as you are not trading the odds before issuing your trading signals. To trade the odds, you need to use confirming indicators, to give you clues to shifts in price momentum. If you predict you will lose, if you confirm your signals at critical levels you are trading the odds. and can win.
4. Is Your Trading System Simple?
By simple we mean a few simple rules (not 20 or 30) for executing a trading signal.
If your forex trading system includes a lot of indicators or rules, chances are it will lose, as it has more elements to break.
In currency trading your chances of success will increase dramatically if you keep your trading system simple.

5. Does it Work on ALL Markets?
If you constantly change the rules and parameters of forex trading strategy for different market conditions or different currencies it will fail.
Many traders back test and then tweak their systems to make them profitable. This is called “curve fitting” and means bending the system to fit the data – it doesn’t work.
We don’t have time in this article to go into all the dangers of curve fitting, so read our other articles, but if you want to avoid curve fitting your system should work with no tweaks or optimization.

6. Does it have specific Money Management System?
We don’t mean just placing a stop, that’s easy – but how to lock in profits with trailing stops on open positions and using profit targets.
Most forex traders simply think money management (after placing an initial stop) takes care of itself in a forex trading strategy - it doesn’t.
The difference between success and failure is thin and money management that maximizes gains can be the difference between you winning or losing.

7. Why Do You Believe You Will Win?
So why should your forex trading strategy win while 90% of forex traders lose?
If you cant answer this question quickly and with confidence, say goodbye to your equity and get back to your forex education!

When you trade make sure your system comprises of objective rules and not patterns that require to much subjective judgement. For example Elliot wave theory and cycles mean you have to make subjective judgements – when you do this your emotions can get involved and that is a recipe for losses. 3. Does It Trade The Odds? Do you try and predict if levels of support of resistance will hold and then hope they do? For example, do you: Buy just above support or a moving average or sell into a double top? If you do then you will lose - as you are not trading the odds before issuing your trading signals.

To trade the odds, you need to use confirming indicators, to give you clues to shifts in price momentum. If you predict you will lose, if you confirm your signals at critical levels you are trading the odds. and can win. 4. Is Your Trading System Simple? By simple we mean a few simple rules (not 20 or 30) for executing a trading signal. If your forex trading system includes a lot of indicators or rules, chances are it will lose, as it has more elements to break. In currency trading your chances of success will increase dramatically if you keep your trading system simple. 5. Does it Work on ALL Markets? If you constantly change the rules and parameters of forex trading strategy for different market conditions or different currencies it will fail. Many traders back test and then tweak their systems to make them profitable. This is called “curve fitting” and means bending the system to fit the data – it doesn’t work.

We don’t have time in this article to go into all the dangers of curve fitting, so read our other articles, but if you want to avoid curve fitting your system should work with no tweaks or optimization. 6. Does it have specific Money Management System? We don’t mean just placing a stop, that’s easy – but how to lock in profits with trailing stops on open positions and using profit targets. Most forex traders simply think money management (after placing an initial stop) takes care of itself in a forex trading strategy - it doesn’t.

The difference between success and failure is thin and money management that maximizes gains can be the difference between you winning or losing. 7. Why Do You Believe You Will Win? So why should your forex trading strategy win while 90% of forex traders lose? If you cant answer this question quickly and with confidence, say goodbye to your equity and get back to your forex education!

Author: kelly Price
MORE FREE INFO ON BUYING SLOVENIA PROPERTY For all the facts on Slovenia and how to buy and Slovenia Property visit our website for a comprehensive resource of articles, features and properties at www.sloveniaestates.com
Learn more about kelly Price at www.sloveniaestates.com

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Forex Trading - Why Most Traders Fail To Run Profits

This may sound strange but it’s true - most forex traders cannot accept big profits even when they are presented with them. Most forex traders fail because not because they can’t restrict losses, but because they don’t have the courage to accept profits.
Let’s see why.
Fact: Currency trading is risky, yet most traders try so hard to restrict risk they give themselves no chance of making profits, so they do the following:

1. Day trade
They think this is a low risk of trading in fact it’s the highest risk form of forex trading you can do because it guarantees a wipe out of equity.
Most traders think they will make money by having keeping risk low and having tight stops, but they get stopped out all the time, as daily support and resistance levels are meaningless and volatility is random.
They then feel good when they get a profit (even day trades are lucky) but their minor and they never pay for their huge amount of losses.
The result?
Complete equity wipe out.
2. Follow the trend
There are other traders who trend follow and aim to make a profit and yet, with all the indicators pointing to a continuation of the trend - they take profit or get stopped out.
They only bank a minor profit, when they could have had a huge profit.
When these forex traders get any profit on their forex trading system, they get excited and the bigger it gets the more they want to take it before it gets away.
As normal volatility eats into their open profit they panic and move their stop up or snatch the profit.

What happens next?
The currency goes on to trend the way they thought and piles up $10 or 20,000 more and their not in.
Most traders are so obsessed with keeping risk low they may as well not trade currencies at all, as they give themselves no chance of winning with their forex trading strategy.

Courage conviction and confidence
To follow and hold a long term trend when volatility eats into open equity is hard and you need confidence in your method and the courage and conviction to accept volatility eating into open equity as the trend takes its course. Believe me, this is hard even for experienced forex traders let alone novices, however you must have the discipline to do this, if you are going to make above average profits over time.
Accept the risk that currency trading presents in a positive frame of mind and take calculated risks at the right time.
In conclusion, this means having the courage and conviction to run profits and accept that you have to take risk to reach you main goal of above average profits over the long term.

Author: kelly Price
MORE FREE INFO ON BUYING SLOVENIA PROPERTY For all the facts on Slovenia and how to buy and Slovenia Property visit our website for a comprehensive resource of articles, features and properties at www.sloveniaestates.com
Learn more about kelly Price at www.sloveniaestates.com

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Currency Online Trading – Why the Internet Has Made Trading Success Harder To Achieve

Currency trading online has opened forex markets to more traders than ever before and I read a lot about how it has made trading easier – Rubbish! It’s no easier to make money and probably harder than ever before.

If you don’t know why read on and find out.
First, let’s start with a simple observation:
The ratio of winners to losers remains the same as it did 50 years ago and the percentage of novice traders losing is higher than ever before.
The fact is that currency trading is easier to do – minimums are lower and on the face of it looks easier so more people who are unprepared try it and get hammered.
Let’s look at a trading currency online myth.

Myth – The Amount of Information Makes It Easier
There is certainly a vast amount of free information that can help you learn to trade but this was always available for a minor cost by going to your local bookstore.
There are numerous courses and currency trading systems sold by vendors with ridiculous claims of easy profits, temping novice traders to open trading accounts and the vast majority are junk.
There is a lot more news available to, but since when did currency traders make money trading news stories?
The fact that news is available online means that everyone has it in seconds and it’s discounted instantly. Furthermore, it has increased volatility and dealing with volatility, is the really hard part of forex trading.
On the face of it, it would seem the internet has made trading easier (and it has in terms of trading and opening an account) but in terms of making money it has not.

More novice traders are lured into trading than ever before by the promise of easy riches and promptly lose all their money.

Accept this fact – trading is hard
The internet has made no difference in terms of increasing your chances of success; it has only made opening an account easier.
If you want to engage in currency online trading then ask yourself this simple question:
Why should I be a winner when 95% of novice traders lose?
If you are like most novice traders who have bought a $100 e-book or currency trading system from a vendor and think that will help you - the bad news is you are going to lose.
If you intend to trade using the vast amount of online news (you’ve guessed it already) you’re going to lose.
The odds are against you!

The odds of novice traders making money in forex trading are slim and most are deluded in terms of what it takes to win.
If you want to win you need a forex trading strategy that gives you an edge – if you don’t know what your edge is in terms of how you can beat the odds you don’t have one!
What you have to content with is huge volatility in all currencies. Spotting trends is not that hard holding them or entering them with wild price swings is the hard part and to a degree the internet has helped increase it.
Unlike many article writers who have never traded and write about how easy trading is, I have been a trader for 27 years and if you asked me:
Would I rather trade before the internet or after? – The answer would from profit point of view be a resounding yes.
If you want to become a successful forex trader, then be aware of the challenges that you face in terms of achieving success in currency trading online, or get ready to lose your money.

Author: kelly Price
MORE FREE INFO ON BUYING SLOVENIA PROPERTY For all the facts on Slovenia and how to buy and Slovenia Property visit our website for a comprehensive resource of articles, features and properties at www.sloveniaestates.com
Learn more about kelly Price at www.sloveniaestates.com

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Currency Options – A Simple Strategy for Mega Profits

Currency options if you buy them offer you unlimited profits and limited risk – that’s good, but your chances of success aren’t good 90% of options expire worthless.
On the other hand, if you sell options you have a 90% chance of success and if you do it correctly, then you can build huge profits over the longer term.

Below we are going to look at a strategy that has the odds in your favour and maximizes your chances of success when selling premium.

So if the chances of success are so great why don’t more people sell options?
This can be summed up in one word – RISK
On the face of it doesn’t look good taking an unlimited risk to get a limited gain, but of course if you constantly pile up small profits by collecting premium with currency options then you can make big profits – let’s look at how to do this and keep the risk down.
Getting 90% + Odds On Your Side For Huge Gains
If you want to use a currency trading system based around options selling keep the two points below firmly in mind to get the odds even more on your side.
1. Sell Greed and buy fear.
Option premiums become high when a market is driven by greed and fear - these set ups provide you woth a chance to trade and build big profits from your forex trading signals.
So when markets skew a long way from the “fair value” you sell.
The two indicators below are great for spotting contrary trades and are explained more fully in our other articles.
This is the set up you are looking for:
Look for markets that are very bullish or bearish by checking the % bullish indicator and look for below 15% bullish and above 85% to isolate opportunities. Next, look for commercial buying of bear markets and selling of bull markets via the commitment of traders report.
Use your charts to enter and sell options behind the next level of support or resistance.
2. Get time on your side

When you are buying option premium, you want lots of time on your side when you are selling go for the opposite.

Time decay at the end of the life of an option kills it quickly, so use it to your advantage and sell options with short times to expiry.

This is not a game for amateurs
If you want to do a forex trading strategy that includes selling currency options - keep the following in mind:
The above is a simple strategy and it works and it needs courage to do – Selling options is a big boys game and you need to be well capitalized, have strict money management and be prepared to trade against the consensus and the majority of forex traders.

Trade with 90% odds of success
If you can adopt the right mindset, spot the opportunities driven by greed and fear and have the courage to trade them by selling currency options, you can trade with 90% odds of success on your side and pile up huge profits.

Author: kelly Price
MORE FREE INFO ON BUYING SLOVENIA PROPERTY For all the facts on Slovenia and how to buy and Slovenia Property visit our website for a comprehensive resource of articles, features and properties at www.sloveniaestates.com
Learn more about kelly Price at www.sloveniaestates.com

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