My succesful steps ( or forex trading course for newbie trader)

By Tom Johnson

Hello newbie traders! I am also a young forex trader but have my own forex strategy. It is not strategy of a forex professional, but the strategy that I use to get money from FX every month. Each of us wants know the best way to be a successful forex trader. I think the best way is to study yourself and get experience. There are many web sites with free articles, different seminars, forums which can help you develop your own system. Read, read and read. In this instance my bible is “Technical Analysis of the Financial markets by John J. Murphy”. Own system … it is GREAT ! But in reality your own system is a period of hard work within a year or more. I also work under it, but all interesting is always here – CURRENTLY, not in the future! That’s why I prefer make money when I create my own system. When I started at forex I had been trading demo account for 3 months. This period of my work is a period when we accumulate trading information - buying books, going to seminars and researching. I graduated I-Trade FX. But before doing that, I would like to be able to learn everything I can from free sources like this great forum – MoneyTec. I have been browsing this forum for the 2-3 months (read today also ) and just taking great knowledge and experience from forex traders! Most of my favorite forex links I see at the simple forex directory AllForForex. The next step is to be careful and to get money. I use forex trading signals and forecasts. In my opinion forex forecasts is a very good service for a newbie trader. You can receive forex signals with entry point, stop loss and take profit levels. Some good sites that sell forex signals are FXUniversal(their DashBoard FX is an ideal solution for those who do not have time or experience to analyze effectively the market within 24 hours a day or 6 days a week), FXMaster. I prefer FinRise’s forex trading signals free of charge . I see them by their long term results. Now, I follow their signals with half of my account balance and I trade the rest myself. I have found them to be an open and honest signal provider. Want to know why ? That’s why – below is my statement for October/November 2005 (each position was opened by signals from FinRise): Statement available here http://forex-trading-your-online-future.blogspot.com/ As you can see, it is an honest service with loses , but real profit at the end is inevitable! FinRise helps me to control and to correct my own forex trading system. Using their signals – I see how to trade today, and if my system says me “sell” , but FinRise says “buy”– I just do not trade :), and correct my system if necessary –when the next day I see – who was right. I wish you to create your own profitable forex system, but your desire to make money right now must live ! Use my successful steps for your way to gain profit at the forex market! At the end please read and remember these simple famous rules which a forex trader must know! 1. Always trade with the trend. 2. Never risk more than 5-10% of your trading capital in a single trade. 3. Never trade without protective stops. 4. Never let a profit run into a loss. 5. When you in doubt, get out. Do not get in when in doubt. Newbie forex trader. Tom S.

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Forex News - a Tip For Massive Gains and an Opportunity Right Now

By kelly Price

Many forex traders what to use for ex news to generate buy and sell signals for profit and here we are going to give you a simple powerful tip, you can use to catch the really big moves and big profits.

There is an old quote that says:

“If you can hold your head around you while everyone else is losing theirs you probably haven’t heard the news”

This is the basis of the tip we are going to explain here. It works in currencies or any financial markets.

You are looking for news that has moved the market already and an extreme in investor sentiment, where the news is discounted and prices have moved to far from fair value and no longer reflect the facts.

You are effectively looking for news that is discounted and an emotional spike in price to far away from fair value.

Live Trades and $20,000 In Potential Profits

Let’s start with an example in one of the most sentiment driven markets of all ( before we look at currencies), crude oil.

Regular readers of my articles will know that I am a crude oil bear, crude is simply overpriced. There is plenty of it about and world demand is dropping.

The true value is about 80.00 a barrel.

Every time sentiment has pushed it up toward the psychological $100.00 we have sold it - look at our other articles. If you would sold on the last two pops to this level, you will have seen the decline is $20,000 based upon 1 contract.

Its only sentiment that drove prices up - greed and fear drove the market NOT Supply and demand.

A CURRENCY TRADE EXAMPLE

Now let’s look at a currency that is overbought and a huge profit to be made.

The euro against the dollar is the trade.

Regular readers again will know that 1.50 is the psychological number that traders want to target.

1.50 is too high just like $100 in crude is. This is simply sentiment driving prices near these levels and the euro will not trade above this level in our view and today its started falling.

The last time it got up we sold (see our other articles) and said it would target 1.46 it did and that’s a tidy 600 pips profit.

It’s up testing the highs again - but the bad news for the dollar is discounted in the price and its now only greed and fear driving the euro.

All the arguments you here for dollar weakness are discounted:

A 50 bps rate cut, a housing market in trouble, sluggish growth etc and there is no more bad news that’s not known.

Now throw into the equation that the euro zone has problems of its own (which traders seem not to bothered about) and you could see a break in the dollars favour.

How far?

We expect the dollar to trade back to 1.46 and if this level gives way target 1.40

The majority don’t agree with us (they didn’t in crude either) but we won’t let that bother us, were sticking with our euro short view to give us another thumping profit.

When looking for extreme bullish or bearish news to break a price always get confirmation of weakening momentum on your forex charts, so you are trading the reality and not getting in to soon.

Will Rogers once said:

“I only believe what I read in the papers”

He was joking but many traders simply take it as gospel when a news story says the dollar is going to fall into oblivion.

Hold your head, look at the facts and if prices gone too far to soon, get ready to trade against the losing herd.

Can you do the above?

Of course you can - it simply means standing back, examining the facts and then looking for trading signals on your forex charts.

This article was written at 8AM Eastern time 15th January

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