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  1. #1
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    Some Points On How To Become A Good Forex Trader

    It is doubtless that Foreign exchange trading is most definitely not for everybody as this business is really risky and really full of various uncertainties and you might always be ready to lose all your savings at a one moment. But still despite that, Forex trading can be a truly good and profitable business which can be a beneficial one for you, of course if you are ready to do the job of the type.

    In the case you desire to become a top skilled and really successful Forex trader, it is imperative that you try to learn the existing Forex equipment, so that you will be able to get the best earnings possible. It is really necessary to keep in your mind that losing is an inseparable part of trading within a foreign exchange market, but you need to aim in earning more profits than what making loses. It is true that just similar to any other type of business, it is necessary to minimize your losses and do all possible to maximize your winnings if you really have an intention to make money in the complicated market of Forex.

    In this article I want to share some tips and points you need to keep in your mind if you desire to be a skilled Forex trader and make Forex a relevant moneymaking s at home.

    1. You need to take some time to learn the trading skills on how to turn into a successful Forex trader. It is worth mentioning that one of points that can make your trading attempts quite successful and make a great deal of winnings is to learn as much as it is just possible about the trade you perform. It is doubtless that the information is always valuable.

    2. Donít forget to test your Forex trading strategy and only then practice it. Actually in such a risky venture such as foreign currency trading, taking more practice is essential. It is true that even people who are already in this business for so many years are in a habit of practicing their strategies on their demo accounts so that they are able to ensure that their strategies will work profitably in the real life trading.

    3. It is necessary to learn the discipline of a high skilled Forex trader. It is worth remembering that one of the most important troubles of any foreign currency exchange trader is to gain the relevant discipline level in his trading. It is really great thing to have a working trading strategy, but a profitable trader also is required to have the discipline to be able to follow that working strategy and not jump to some other strategies if he considers that it is not profitable in a short term.

    Currently more and more people try to trade with forex software. If you are looking for effective forex software Ė please read the review of this forex software, before buying any.

    It is obligatory to read reviews of such kind of software before buying any forex indicator software because you will know about whether it is worth buying.
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  3. #2
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    This is important article because usually lots of beginner trading without knowledge and enough skill so they suffer looses on forex. basic knowledge about forex is important and then move up to the higher and complex knowledge such as technical and fundamental analysis.

  4. #3
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    It is a good article. i think we can not succeed in Forex without knowledge and experience in Forex. These both things are very necessary to succeed in forex.



    http://www.forex-metal.com/affiliate/46199/2

  5. #4
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    It is a good article. i think we can not succeed in Forex without knowledge and experience in Forex. These both things are very necessary to succeed in forex.



    http://www.forex-metal.com/affiliate/46199/2

  6. #5
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    If we want to be good trader then we have the good planning in the trading , and have the good strategy in the trading and trade with the proper discipline and mange the risk in the trading and control the emotion in the trading and analysis the market properly.

  7. #6
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    I don't think robots work in forex since we are so much smarter then them but I've read many stories of robots not working so I will not try it. to become a good trader, you should do long term as its easier and less risky and you make profit for sure. You should also learn to use top loss and only trade in market opening. Buy lowest and then sell highest.

  8. #7
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    For increase our success in forex market is very easy and a man can make money from here easily. So I like it and it is now very popular so I want to be a good trader and I want to make money more and more.

  9. #8
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    Being a trader, like any other profession, is not something easy. Many people want to be successful traders, but forget that being a successful trader is a process.
    Get e-book from FXB Trading here.

  10. #9
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    e-books , tips on trading books , written by famous traders are there out there. Just need to give a specific amount o time to it then youll be knowledgeable in no time . but main point is to apply those knowledge in real life.

  11. #10
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    Now we are going to move into the trading strategy section of this course. The simple trading strategy that I have selected is the 123 strategy for continuation trades and end of trend trades.

  12. #11
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    First we are going to look at the 123 pattern as an end of trend, or reversal trading strategy, also called the 123 top and bottom pattern.

  13. #12
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    The 123 top and bottom pattern is a very powerful pattern that signals a trend reversal. It can also be used as a trend continuation, which will be described shortly.

  14. #13
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    First, the reversal pattern. Scenario 1: In an uptrend, the market hits a new high, labelled point 1. Price then pulls back to a short-term support level, labelled point.

  15. #14
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    2. Finally, price moves up to an area between points 1 and 2, labelled point 3. It then reverses down again and begins a trend in the new direction.

  16. #15
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    Trade Entry: The pattern is complete when the price trades below point 2. At a 123 top, the strategy is to sell on a break of point 2.

  17. #16
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    The measuring objective is the distance between point 2 and point 3 projected below the break at point 2. The stop loss is set just above point 3 but a more conservative stop loss is above the start of this move, at point 1.

  18. #17
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    This is a choice that the trader must make and only by trading it over and over again will the trader feel comfortable with the choice of a stop loss.

  19. #18
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    An optional sell is at point 3, only if point 3 is at the 50% retracement level of the move from 1 to 2. Also watch for reversal candlestick patterns at point 3 to trigger the entry.

  20. #19
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    Figure 5 summarizes the 123 top and bottom trade. We just looked at scenario 1 which is the 123 top. Now we will discuss the opposite scenario of a 123 bottom.

  21. #20
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    Scenario 2: At a 123 bottom, the market hits a low at point 1, trades up to point 2, trades back down to point 3, and back up through point 2 to begin a new uptrend.

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