forex trading information ...

If you are a forex day trader or considering it, then you need to know the above facts, if you do they will save you a lot of money. Forex day trading is more popular than ever but how do you make profits? Let’s find out. If you look online you will find more forex day trading courses than any other type of trading methodology and they will all lose you money here’s why:
Let’s start first of all with the vendors who sell courses1. Why are they selling them? To make money for themselves! They don’t normally trade their day trading systems because they know they don’t work. If these systems could produce regular profits they would be to busy making money for themselves and not have the time to bother you for a few hundred dollars they would be to busy making money. 2. The Evidence That day trading doesn’t work If you ask for a track record of profits from any of these vendors you won’t get one – What you will normally get is a hypothetical track record of huge gains but this is done in hindsight - KNOWING the closing prices. If I knew tomorrow’s price today, I would be a multi millionaire but of course forex trading is a bit more difficult - you have to work out where prices are going without knowing them in advance!These vendors use great advertising copy to dupe people but the logic of day trading simply doesn’t work. Why? Because:3. All short term volatility is random!Day traders will claim that it’s not - but of course it is! Volatility can and does, take prices anywhere in a day and daily support and resistance levels are meaningless. When day traders lose, they blame the system or the indicators they use, however if volatility is random, then it is of course the logic of day trading that is at fault - NOT the indicators. If you think that you can make money day trading go ahead and try but you will learn a very expensive lesson and lose. I would love a day trader to prove me wrong and produce a real time track record of gains over the longer term (3 years or more), but have the feeling I will be waiting for a long time. The belief that you can make money day trading, is one of the biggest myths of forex trading and despite the evidence it doesn’t work, traders still think they can win at it – they can’t.
By: kelly Price

Here we are going to give you 2 simple tips that will instantly improve your overall forex trading results. There simple to learn, easy to apply and could help you achieve big profits consistently of 100% or more annualized. Consider this point:
Forex trading is all about being right with your forex trading signals and making money – You don’t get rewarded for the effort you put in to forex trading strategy the only thing that matters is profit. Here we are going to focus on working smart not hard to make more money from trading.Before we discuss our forex tips in greater detail, lets look at two key points in regard to currency trading. 1 The Big Trades Only Happen a Few Times a Year If you look at any currency chart the really big strong trends only occur a few times a year and these are the trends that offer the best risk reward. The rest of the time the markets are either trending sideways with no clear trend, or showing high volatility which is hard to trade. 2. Trading The Odds If you want to make money you need to trade the odds and get them on your side. The best way of doing this is to focus on set ups that give you a clear trading edge which is easy to see on any forex chart. You need to look for valid support or resistance which has been tested numerous times over several months – you know if these levels are broken the likelihood of a new trend developing are high. The two tips to make more from your forex trading system are: 1. Cut back the amount of trading you do And only focus on high odds trades – look for valid breakouts of support and resistance and trade them. Keep in mind, most big trends develop from new market highs NOT market lows so you need to focus on the breaks and go with them. Use a breakout methodology and ONLY trade these high odds trades. You won’t trade often but each trade you go into will have the potential for triple digit gains. If you like the excitement and buzz of trading this method is not for you, but if you want to make money from your forex trading strategy it is!This now leads onto the second point: 2. Risk More Per trade and DON’T DiversifyYou will hear a lot about diversification and cutting risk but all it does is dilute profit potential. You will also read a lot of investment wisdom that says risk only 2% per trade, well if you are a small forex trader with a $5,000 account, that's just that’s $250.00! Forex markets involves taking risks and with risk goes reward - the more you risk the more you make pure and simple. If you are trading a currency move that is a high odds one risk more – 10 – 20% is a good figure to aim at. The above forex trading strategy focuses on making money nothing else and will cut the time you spend forex trading. Furthermore it's based on a breakout methodology which is simple to learn, easy to apply and is discussed in the next article in this series.
By: Monica Hendrix

Getting started trading in the Forex market is not complicated, but there are some things you will need to do to become a successful Forex trader. The first thing you should do is make some decisions concerning the amount of capital you are willing to invest. Most brokers have a minimum, but a lot of brokers have an account minimum as small as two hundred and fifty dollars.Once you know what amount you are willing to invest in the Forex market, the next step is to find a good broker. A good broker will be upfront about all aspects of their business, including commission, if there are any, spreads, trade executions, flexibility concerning transaction size, the allowable leverage, the currency pairs that are available with that broker for trading, the security of any deposited money, and what tools they will make available to help you with your Forex trading.
The best way to start Forex trading is with a demo, or dummy, account through the broker you chose. These accounts use paper, and they allow you to make trades without risking any money until you get familiar with the Forex market. These accounts allow you to track your trades and get comfortable with all aspects of the market with no risk. Brokers usually recommend that you do not start trading with actual currency until your trades get returns at least for a couple of trades.One of the most important parts of getting started with Forex trading is knowing the terms and language used. Research online and learn all you can about the Forex market and the language used. Learn about the foreign currencies. Most of all, learn how to analyze the economic reports and other factors that can affect the Forex market. The learning part is a huge part of being successful on the Forex market. There are many variables when it comes to the trading markets, and by learning what these variables are and what effect they will have on the market, you will be better prepared and a better Forex trader.Getting started with Forex trading requires some thought and pre-planning. You must first figure how much money you want, and can afford, to invest. Be realistic, and do not risk more than you can actually afford to lose. Next you will need to learn some about Forex investing. Do your homework and be prepared, and you will be a much better and more profitable Forex investor. Learn about all of the major economic reports, and learn how to read and analyse these reports to maximize your investment potential. Find a good Forex broker, and discuss things like the spread, leverage, margin rules, any commissions, and more. Find a broker that you are comfortable with and trust, because this person will control your profit margin. Most importantly, use demo or dummy accounts until you are comfortable and know what you are doing.