Tuesday, July 6, 2010

Forex Trading Tips

Forex Trading Tips

Tip 1......All unproved, spontaneous actions in Forex trading — are a part of gambling.
forex trading vs forex gambling

Any attempt to trade without analysis and studying the market is equal to a game. Games are fun except when you lose real money...

Tip 2. don't invest money into a real Forex account until you practice on a Forex Demo account!
Allow 2 months for demo trading. Consider this: 90% of beginners fail to succeed in the real money market due to lack of knowledge, practice. Those remaining 10% of successful traders had been sharpening and shaping their skills on demo accounts for years before entering the real market.
A good demo account to start practicing with could be, for example, FXGame from Oanda.

Tip 3. Go with the trend!
Trend is your friend. Trade with the trend to maximize your chances to succeed. Trading against the trend won't "kill" a trader, but will definitely require more attention, nerves and sharp skills to rich trading goals.

When a trend is up you don't want to be selling. Forex trading tips: uptrend When a trend is down, you don't want to be buying. Forex trading tips: downtrend

Tip 4. Always take a look at the time frame larger than the one you've chosen to trade with.
It gives the bigger picture of market price movements and thus helps to clearly define the trend. For example, when trading with 15 minute time frame, take a look at 1 hour charts.
In the same way: trading with 1 hour charts would require obtaining a picture of daily, weekly price movements.

If a trend in Forex is hard to spot — choose a bigger time frame. Up and down market patterns are always present. Make sure you know the dominant trend, unless you are a scalper. Scalpers have no need to spend their time studying large trends, instead what's happening in the market here and now (on 1-5 minute time frame) is their main concern.

Tip 5. Never risk more than 2-3% of the total trading account.
One important difference between a successful and an unsuccessful trader is that the first is able to survive under unfavorable market conditions, while an unsuccessful trader will lose his account after 10-15 unprofitable trades in a row.

Even with the same trading system 2 traders can get opposite results in the long run. The difference will be again in the money management approach. A quick fact to get your mind thinking about money management: losing just 50% of you account balance requires making 100% return only to restore the original balance.

Tip 6. Put emotions down. Trade calm.
Don't try to revenge after losing a trade. Don't be greedy by adding lots of positions when winning.
Overreaction blocks clear thinking and as a result will cost you money. Overtrading can shake your money management and dramatically increase trading risks.

Tip 7. Choose the time frame.
Choosing wisely means that you are comfortable and have enough time to analyze the market, place and close orders etc. Some people can't wait for hours for the price to make a move, they like action and therefore prefer smaller time frames. On the contrary, for others 10-15 minutes is a hustle to be able to make the right decision.

3 easy ways to make money online

3 easy ways to make money online
1= its not difficutl.you should already known hwat best skill you have. skills that can earn you money those are that cna help people to save the time solve the problem some of skills are here
* article writing , copywriting , blogging and ghostwriting
* web and graphics design , blog theme design , e-cover design
* buildint inbound links , optimizing websites etc
* programing script making , blog installations
All the above skills are related to internet marketing an e-commerce.it is best to turn them in educational guide
2 => Turn Your Skill into a Product
If you do possess a skill related to Internet marketing, it will be profitable to start a freelance business specialized to provide your service to the e-entrepreneurs and web publishers. While doing your freelance business, you can also develop your paid coaching program or e-book product that will teach people to master a skill of Internet marketing niche. This can become an additional source of income to you.

For those of you who are good at office support (data entry, etc) or accounting, you may check out Guru.com, Elance.com and other freelance service sites for freelance works that suit you.

Even your skill has nothing to do with Internet marketing, it still can bring you online income. There are already a group of people searching on the Internet to learn the skill you have, you can just write a 'how to' e-book or guide and sell it to this target group of people.
3 => Start Your Business
When you have your own products created or you are ready to provide your expertise or skill, it is time to plan and start your online business. A website is needed to launch your business.

Don't worry, it isn't difficult to get a professional website nowadays. Web designers are everywhere on the Internet. Just hire a good and experienced one through the freelance marketplace and your problem solved. Lets the web designer do all the work for you (from website building to setting up).

As you are selling a service or product, marketing will be vital to you. For a beginner who hasn't experienced much about web marketing and promotion, PPC advertising is a good choice. PPC advertising can give you instant potential customers at no effort. But, you will pay for each targeted visitor send to your website.

While your PPC ad campaign is running, you can spend more time to look into what other Internet marketing approaches to use for promoting your business. If you can come up with a marketing plan, that will be even better. The plan will clearly list out your goal, the exact marketing strategies to be used for achieving your goal with a budget of how much to invest in each marketing approach.

101 tips to make money and cash fast

# The average US home has the TV on for over 3,000 hours per year. A 40 hour/week job is only 2,000 hours per year.
# Read “Think and Grow Rich”
# Have a Sense of Humor
# Be Yourself
# Don’t Hide Yourself
# Visualize Your Goals Daily
# Have an Opinion
# Compliment People
# Stop Letting Fancy Sounding Coffee Steal Your Dreams – $5.50 coffee and snacks each day cost you $2,000/year.
That could be invested into your Inspired Money Maker dreams instead. Use the money to start a business, purchase equipment, take courses, go to a seminars, etc.
# Learn to Listen
# Be a Simplifier, Not a Complicator
# Learn From Your Mistakes, But Don’t Be Afraid to Make Them
# Be Humble
# Read “The Science of Getting Rich” by Wallace Wattles
# Get Excited
# Be Original. Be Grateful. Be courageous.
# Be Unreasonable
# Stop Being Negative –
Stop justifying that you’re just being realistic. See things as they really are, not worse than they are. Then, take it a step further and see things better than they are.
# Take Action
# Be Nice to People
# Create Your Own Luck
# Stop Pretending to be a Victim
# Don’t Worry What Others Think, That’s Their Business
# Learn to Master Your Habits
# Do Something New
# Use Affirmations Daily
# Beat the Odds – When you encounter an obstacle, realize that each obstacle you get through with your determination also eliminates 80% of your competition. Keep going, don’t give up and your odds will improve every step of the way.
# Just Do It
# Believe in Yourself – Nobody else is going to do it for you. Start now, in this moment.
# Don’t be Good, Don’t be Great, Be Outstanding
# Never Stop Growing
# Give to Get
# Plant Your Flag, Commit to the Inspired Money Maker Path
# Connect With Your Spirit Guides
# Don’t Talk Small About Yourself
# Avoid Bureaucracy
# Focus Your Energy
# Read Books
# Invest in the Tools You’ll Need – Stop being cheap and invest in the tools you may need to succeed.
# Have Integrity
# Always Be Creating Your Story
# Start an Idea Journal, Capture Everything
# Pay Attention to Your Dreams
# Assume You Won’t Live Forever, The Time To Do This is NOW
# Don’t Gossip, Network – Cut out wasted time gossiping on the phone with your friends. Instead, get your friends into making money doing what they love and then each hour you spend on the phone will be networking towards both of you growing your Inspired Money Maker ventures.
# Aim to Improve the Universe. Think Big
# Don’t Give Up
# Get a Psychic Reading
# Make it Fun
# Trust Your Gut – When it comes to logic vs intuition. Go with your gut, then justify it with logic later.
# Believe in Others
# Skip the Party, Work on Your Dreams Instead
# Challenge the Status Quo
# Learn a Positive Word Every Day
# Get Help Where Needed – Don’t try doing everything yourself. If you need web-design, hire a web designer. If you need logo design, hire a logo designer. If you need accounting done, hire an accountant. Try not to do too much yourself. Focus on what you love doing and find a way to monetize it.
# Instill Confidence in Others
# Email a Stranger, Propose a Win / Win Relationship
# Take Time to Relax
# Start a Blog and Document Your Journey
# Digg, Stumble, Bookmark this Post and Get 9,639 Universal Karma Points :)
# Model Successful People – Read biographies, books, Blogs. Study successful people. Find someone who’s already accomplished what you want to accomplish and model their beliefs, their behaviors etc.
# Replace Your Bathroom Reader with a Self-Help Book
# Take Two Weeks Off Work, Stay Home and Work on Your Inspired Money Maker Plans. Tell Everyone Else You’re Out of the Country.
# Repeat Your Affirmations In Your Head Until You Fall Asleep at Night
# Choose Financial Abundance, Stop Believing that Money is a Dirty Word
# Compete With Yourself, Not Others
# Smile and Make People Laugh
# Make and Carry Your Personal Business Cards
# Be Polite, But Don’t Be Afraid to Express Yourself Either
# Don’t Waste Time on Stupid Crap – Does your desk really need to be cleaned again this week? Do your books really need to be alphabetically arranged?
# Watch What People Do, Not What they Say They Do
# Help Someone Out
# Think “How Do I Increase My Income by $10,000” not “How Do I Cut Expenses by $100”
# Be Nice to Yourself
# Get Rid of Stinkin Thinkin – Stop the endless negative chatter in your mind. Re-focus your internal questions on the positive.
# Enjoy the Journey
# Network with People You Feel Comfortable With
# Don’t Use Your Kids as an Excuse
# Learn to Forgive – Stop wasting energy holding grudges. Forgiving someone is not the same as condoning whatever they did. It is simply letting go of the pent up negative energy inside you because it doesn’t serve you anymore. Let it go.
# Try Immersion Learning
# Find a Mentor / Coach, Don’t Let Lack of Money Be Your Excuse
# Give Referrals, Ask for Referrals
# Don’t Complain. Put the Violin Away. Nobody Wants to Hear It
# Stop Looking for Shortcuts. Steady Wins the Race.
# Share Your Success with Others
# Don’t Hang Around Negative People. Hang Out With Other Inspired Money Makers
# Buy Wrinkle Free Dress Pants – Saves you time on having to iron them
# Don’t Believe Your Excuses
# Write in a Journal
# Don’t Underestimate the Fear of Success
# Be Decisive
# Meditate
# Convert Your Car Into a Personal Development University – Turn off the Radio and Listen to Audio Courses and Seminars in the Car
# Hire Someone to Mow the Lawn, Work On Your Dreams Instead
# Sleep When You’re Dead – Stop sleeping 8-12 hours a day. Try 6 hours / night for 30 days and see how you feel. Most people sleep so much because they’re depressed about their life. Work on being an Inspired Money Maker and you won’t want to sleep.
# Use Law of Attraction
# Send Gifts to People
# Ask for What You Want – Erase the fantasy from your head that others should know what you want. Ask for what you want, always. Stop talking about what you didn’t get, and focus on what you want.
# Work on Your Communications Skills
# Have Patience – Everything won’t come all at once. Have the patience to trust that everything will come at it’s perfect time.
# Seek Answers Within