Premarket Calls

One important thing that every new trader must know before entering this highly profitable business is that life is not perfect, even in FOREX land, and you should always know one fact: YOU WILL HAVE LOSING TRADES. Every FOREX trader does. The key to being a consistent, predictable, reliable trader is to, at the end of the day, add up more wins than losses. And, when you KNOW(based off your trading rules), without a doubt, that YES, indeed you are, in a losing trade, don't keep losing money ...
Read the rest of this entry »

Currencies are traded in dollar amounts called 'lots'. One lot is equal to $1,000, which controls $100,000 in currency. This is what is known as the "margin". You can control $100,000 worth of currency for only 1,000 dollars. This is what is called 'High Leverage'. Currencies are always traded in pairs in the FOREX. The pairs have a unique notation that expresses what currencies are being traded. The symbol for a currency pair will always be in the form ABC/DEF. ABC/DEF is not a real currency ...
Read the rest of this entry »

There is an old expression you may have heard - to 'gild the lilly'. Basically, this means that if something is working fine, don't attempt to 'fix it', or 'improve it'. Chances are you will end up doing more harm than good. Nowhere is this more true than in the cut and thrust arena of stock trading. And nowhere in the world of the financial markets is this more clear than in the release of the so-called 'T4 Trading Strategy'. Way back in the dim and distant trading past (mid 1990's, in fact!) ...
Read the rest of this entry »

There is one aspect that is considered as one of the best advantages of FOREX Trading. This is related to the amount of money you need to place a trade, this is known as "margin", and in short, this is all that can be lost in a the case you had a bad trade. I state it like this because, even though I know with proper self-taught education you're NOT going to lose as much as you win anyway, I want you to know that despite the super-high leverage associated with FOREX trading (200:1 is ...
Read the rest of this entry »

It's a new world. Gone are the days of writing paper checks and entering credit card numbers. Now with the click of a mouse you can pay anyone anywhere, anytime, or you can receive payments yourself without a merchant account. All you need is the right service and an email address. There are so many "electronic payment" services on the Net today, if you're not taking advantage of them you're missing out on a fast, simple way to move money around. If you're selling products or services online, ...
Read the rest of this entry »

In part 1 of this article I started to look at the financial implications of giving up the day job to instead start trading full time for a living. There are more than just monetary considerations as we will see later, but for now, there are some more costs to ponder. More Costs! Let's move on to equipment. Presumably you already have a PC and internet connection by virtue of the fact you are reading this on the internet. But are these both up to the job of trading full time? Again the ...
Read the rest of this entry »

There are many advantages to Trading FOREX as your main income generator. Let's start by something that may be worrying you already. 'Do I need a Diploma or some kind of Certification to trade FOREX?' The answer is this: When attempting to make more profit than losses on the fluctuation of exchange rates between major currencies (i.e., Trading the FOREX), nobody is going to ask you for a diploma, a formal license or verify the amount of hours you've spent studying the Foreign exchange market ...
Read the rest of this entry »

You have, no doubt, heard the phrase "the time value of money". It means that a dollar in your hand today is worth more than a dollar in your hand a year from now. Why? Because of what you can do with that dollar over the next year. You can invest that dollar in an interest bearing account and have $1.05 at the end of the year. If you decide to take your buck in a year, your opportunity cost (foregone investment) will be five cents. Not to mention what inflation will have done to your ...
Read the rest of this entry »

"Money is a terrible master but an excellent servant." - P.T. Barnum John Ray, the famous 17th century author, was known to have written the aphorism, "Money begets money." In the business world, I'm sure you've also heard the saying, "You've got to have money to make money." There are countless sources of cash, but by far, the best one to utilize for your business is ... other people's money. Perhaps one of the greatest "secrets" of the richest people in the world is summed up in those 3 ...
Read the rest of this entry »

There can't be many traders who haven't at least considered the idea of telling the boss what they think of him, throwing it all in and going off to trade the stock market for a living. It's a big risk financially, and that uncertainty is what stops most from jumping ship. Is it really possible to trade for a living? The Dream You know how it is, you're sitting in a traffic jam at some unearthly hour of a particularly wet and miserable morning, on the way to the same office you have sat in for ...
Read the rest of this entry »