Have you come up with your million dollar plan? Believe it or not I’ve finally decided what it is I’m going to do. It’s something I will actually enjoy doing. It’s something I’m excited at the prospect of doing. The problem is, I need at least $150,000 to get started doing it. So [...]
Saturday, April 5, 2008
Stop changing up the script every minute. Set a goal and focus on it. Make a plan and stick to it. Don’t decide today that you’re going to make your millions in film then change your mind tomorrow and decide you’re going to make your millions in music, then change your mind the day after [...]
Saturday, April 5, 2008
You know you have a loser mentality when you tend to sit around feeling sorry for yourself and imagining God himself is out to make sure you never achieve success. Here’s the cold truth I spoke to myself earlier today: The reason you’re not a millionaire yet is that you don’t know how to become one. How [...]
FXCM Trading Station II is probably one of the best forex trading platforms out there for novice traders. It’s fairly easy to use. In fact it’s such a nice system even Deutsche Bank uses it with their DBFX trading station. But in the case of FXCM don’t expect the trading station to behave exactly the same in live mode as in demo mode. There is definitely a difference even though you can’t see the difference structually. Even FXCM admitted the live mode and demo mode aren’t exactly the same. They look the same but your trading experience while in demo mode will be a lot more profitable than while in live mode. That should make you wonder. They say it’s the slippage and volatility but in demo mode you’re almost always profiting. In live mode almost always losing….
The truth is you probably won’t get rich trading forex. Successful forex traders understand the foreign exchange market and currency trading on a level that is not understood by the average retail forex trader. If you don’t actually understand the fundamentals or even the technicals for that matter you’re going to find it’s a lot more difficult to make a profit from your fx trading account; but even though it will be difficult it’s not impossible. You probably won’t join the forex millionaires club, but you can still make decent money.
Oanda boasts about their tight spreads and they definitely have reason to boast where the EURUSD is concerned. They probably have the tightest EURUSD spread out there. Hard to imagine there could be a broker with a tighter EURUSD spread.
Here is a video that aims to demonstrate how you can make money trading currencies using Fibonacci Retracements and Fibonacci Profit Targets.
This video demonstrates a method for making money in the foreign exchange market using pivot points. Pivot points are turning points.
In the forex market the term would apply to the the points throughout the previous trading day at which traders and investors leaned towards a bull market or a bear market in general sentiment.
Ken Calhoun with forexonfire.com talks about how you can learn the technical signals to use and how to spot pivots, break outs, break downs using currency pairs when reading your charts, and how to setup your charts for currency trading.
He talks about currency pair volatility, learning how to spot patterns, pivot points, learning when to exit and not initiate another trade.
Here is an educational video of sorts put out by the guys gftforex.com. The video aims to teach you how to spot forex options scams centered around advisory services and newsletters ect. It is very detailed and straightforward.
The video suggests that your scam siren should definitely start going off if anyone comes trying to sell you on forex options trading by promising they have a system that is:
Easy
Low Risk
Based on secret trading methods used by the pros which the pros don’t want you to know
Available to you even if you don’t have lots of money thanks to leverage.
A look at forex trading. This video attempts to take the mystery out of foreign exchange by breaking it down into it’s “principal parts and players”.
The video explains how foreign currency is brought to other countries and how this creates the practice of currency trading. The video addresses the role central banks of countries, commercial banks, financial companies and brokerage houses, and private individuals play in the foreign exchange markets.
Saturday, April 12, 2008
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