Again, Secrets of Successful Trading Forex

You may have heard that successful forex traders it is an experienced trader, has a high level of discipline and tenacious. Forex broker anywhere in this world surely know them. But what really makes them successful? What do they have to be successful?

What I mean by "success" here is the ability to make a profit with consistent; the main thing. But if it refers to the opinion of a layman, success usually is measured by the success rate and improving the quality of one's life. That is why we will first agree on the definition of "successful forex traders".

I found the definition of "successful forex traders" are "those who do forex trading correctly and is able to achieve the financial targets through profits earned by consistently through forex trading".

There Really Successful Forex Trader?

We have equally advised that out there there are a lot of questions about whether a person can generate consistent profits through forex trading ? I myself once had doubts and from doubts that led me to look for evidence. I did a search even since I first became acquainted with this business in the year 2005.

The verification process takes place during the year. In the end, by the year 2006, my quest led to an answer: yes, people can profit consistently in forex trading. I'm probably the least among those who answered "yes".

Out there - I'm sure - so many people are skeptical of this business. Naturally, because they have not proved it is indeed possible. Is a sensible choice to not believe what can not be substantiated. They were able to prove and answer "yes" is included minorities.

Why they can answer "yes"?

Because they do not expect too grandiose. Remember the initial definition of "success" in forex trading: produce consistent profits. We are not talking profit as a percentage of "giants", such as 100% per month. We're talking CONSISTENCY.

Those who fail to prove it departed from the definition of "success" is different: that generate profit "giant". If that definition is clearly difficult. Trading forex is one form of business, not a "get rich quick scheme". One great if consider forex trading is one way to get rich quickly.

The assumption of "get rich quick" then that is what makes most people trade forex without well-planned. Even if planned, the plan usually will not run properly. Yes, we're talking about trading plan.

So many people are "trading" without a trading plan. Many people who had made a trading plan, but do not run it well. If it were so, boro-boro consistent profit.

So, What secret?

Sorry. Actually NO SECRET altogether. Actually, everyone is aware that in order to become a successful forex trader who first have to do is learn trading correctly, then execute trades properly anyway.

Already dozens of articles published on this website discusses about the importance of acquiring knowledge in the right way and execute a trading plan well too. So, it can not be called secret anymore, is not it?

Okay, there is one thing that distinguishes a successful forex traders with traders who are not successful. What is that?

NEVER GIVE UP!

The problem is, so many traders who start trading with passion, past two-three years, then stopped so when faced with a barrage losses. The mistake is that they do not want to do the evaluation: what caused the big loss?

Unyielding attitude must necessarily be applied in all types of businesses, if you want to succeed in the business. Especially in high-risk business called "forex".

So, take heart. Do not give up easily. That is the biggest secret of success.

 

Forex Trading Strategy: "Stop-Loss" So "Stop-Profit"

The forex market is a very dynamic environment with a variety of aspects that need to be considered by a trader in implementing its strategy forex-. Many important things to be aware sometimes make a trader to forget things that are (considered) small, but it turned out to have a major impact. One of the things often considered "small" it is stop-loss, which is when it can change your world. In learning forex this time, we will learn to better understand the "little guy" who turns out this great.

Stop-loss - his full name is the stop-loss order - can be a very useful tool, if you know how to use it. Let peeled together.

Is the stop-loss?

Stop-loss is actually placed order to close the open transactions with the aim of limiting the risk of loss. For example, you open a forex transaction: Buy 1 lot of the AUD / USD at 0.81400 price. As a strategy for limiting the risks in forex trading you are placing a stop-loss at the price of 0.81000. This means that if the price then dropped to 0.81000, then your transaction will be closed at the price of 0.81000 with a loss of $ 400.

The positives and negatives

No one wants to lose, but in trading inevitably you have to learn to deal with these risks. It has been mentioned before that you can limit the risk of loss that you might suffer by placing stop-loss.

The positive side of placing stop-loss is you do not have to constantly look at charts of price movements. Simply place the stop-loss level and the risk you are already constrained by itself, without requiring you to stare in front of your monitor. Even - extreme - you should turn off your computer and go shopping, play pool, or watch your favorite movies. Your risk is already limited by stop-loss.

But every thing has both positive and negative sides, as well as stop-loss.

It could happen a scenario like this: stop-loss that you place only "dicolek" by price movements, and then reversed and precisely meet your target profit. For example, in the example above mentioned transaction (Buy 1 lot of the AUD / USD at the price of 0.81400; stop-loss at 0.81000 price): after hitting 0.81000 price (stop-loss) turns then direct prices rebound and even reached 0.81800. Quite oppressive, huh?

But try to think like this: You NEVER know what will happen next. In other words, you - in fact anyone - never know for sure the next market movement. In forex trading all the possibilities can occur: the price may rebound, but ALSO CAN GO DOWN MOVEMENT so that your losses will be greater and forex strategies that you have painstakingly collated no longer useful. All open opportunities.

The question then is: if you can face greater losses than just minus $ 400? Which is more painful: loss of $ 400 (according to your risk tolerance), or a loss much greater because you do not limit your risk?

The most important thing is that the stop-loss allows a trader to immediately make a decision without any emotional involvement. People tend to "fall in love" in the transaction; he did not want to throw away the transaction despite mounting losses. Trader as it is always hope and expect the market will reverse direction. In fact, in anticipation, the risks it faces growing.

Placing a stop-loss rules

In forex trading, you have to - even MANDATORY - learn to apply the forex strategy that is necessary to limit the risks. All successful traders agree with this.

The key to minimize the possibility of a stop-loss "licked" by price movements is the placement of stop-loss technique itself. You should follow the signal in the time-frame that is not too short to avoid price movements suddenly. Put your stop-loss a few pips above the key resistance (if you are a sell position) or below key support (if you are a buy position). Technically, there is a method that teaches put around 100-200 pips (to quote five decimal). There are many methods of determining the resistance and support key, you just learn it.

Even more important is placing a stop-loss in accordance with the risk tolerance that you have defined in the trading plan. For example, you have a capital of $ 10,000 and allocating risk sebsar 5% per transaction, then your stop-loss should be no more than $ 500.

Not just limiting losses

The origin of stop-loss is indeed intended to limit losses, as the name suggests. But in its development, stop-loss it can also be to let the advantage that you have acquired the potential to become even greater. How to?

The technique is called "trailing stop". In this case, the "stop-loss" no longer serve to limit losses, but "lock in" profits at some level. What kind of story?

Let us return to the example previously mentioned transaction. Assume you are doing forex trading and opening Buy AUD / USD at 0.81400 price. You have learned that you have to limit the risk, and as his forex- strategy you place a stop-loss at 0.81000.

It turned out that the price continues to rise; say up to 0.82000. At that level, you've gained floating profit (unrealized profit) amounted to $ 600 (conditions floating profit is already profit when your position, but the position has not been closed). In these conditions, instead of closing the transaction, you just move (termed amend) a stop-loss that had been located at 0.81000 to 0.81600. Thus, if later the price dropped from 0.82000 to 0.81600, your position will be closed in the range of 0.81600, with the result of a gain of $ 200.

Conclusion

In forex trading, s top-loss is the easiest forex strategy but a very significant impact in your attempt to limit the risk. It is true that there are other ways such as switching or averaging, but all of them have side effects such as psychological burden is much greater.

While it is easy unfortunately many traders who "failed" to use it, whether it be to limit the risk and lock in profits. You should treat such a stop-loss insurance premiums, where you never expect to use it, but when the risk occurs, you stay calm because you know that your own safety.

Losing is not good, but more is not better if mounting losses suffered because not restricted. Tuh pain in the wallet ....

So, use stop-loss.

 

Buying Stocks

You've now learned what a stock is and a little bit about the principles behind the stock market, but how do you actually go about buying stocks? Thankfully, you don't have to go down into the trading pit yelling and screaming your order. There are two main ways to purchase stock:


1. Using a Brokerage
The most common method to buy stocks is to use a brokerage. Brokerages come in two different flavors. Full-service brokerages offer you (supposedly) expert advice and can manage your account; they also charge a lot. Discount brokerages offer little in the way of personal attention but are much cheaper.

At one time, only the wealthy could afford a broker since only the expensive, full-service brokers were available. With the internet came the explosion of online discount brokers. Thanks to them nearly anybody can now afford to invest in the market.

2. DRIPs & DIPs
Dividend reinvestment plans (DRIPs) and direct investment plans (DIPs) are plans by which individual companies, for a minimal cost, allow shareholders to purchase stock directly from the company. Drips are a great way to invest small amounts of money at regular intervals.

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How Stocks Trade and make the big money

 

 How Stocks Trading

Most stocks are traded on exchanges, which are places where buyers and sellers meet and decide on a price. Some exchanges are physical locations where transactions are carried out on a trading floor. You've probably seen pictures of a trading floor, in which traders are wildly throwing their arms up, waving, yelling, and signaling to each other. The other type of exchange is virtual, composed of a network of computers where trades are made electronically.

The purpose of a stock market is to facilitate the exchange of securities between buyers and sellers, reducing the risks of investing. Just imagine how difficult it would be to sell shares if you had to call around the neighborhood trying to find a buyer. Really, a stock market is nothing more than a super-sophisticated farmers' market linking buyers and sellers.

Before we go on, we should distinguish between the primary market and the secondary market. The primary market is where securities are created (by means of an IPO) while, in the secondary market, investors trade previously-issued securities without the involvement of the issuing-companies. The secondary market is what people are referring to when they talk about the stock market. It is important to understand that the trading of a company's stock does not directly involve that company.

The New York Stock Exchange
The most prestigious exchange in the world is the New York Stock Exchange (NYSE). The "Big Board" was founded over 200 years ago in 1792 with the signing of the Buttonwood Agreement by 24 New York City stockbrokers and merchants. Currently the NYSE, with stocks like General Electric, McDonald's, Citigroup, Coca-Cola, Gillette and Wal-mart, is the market of choice for the largest companies in America.

The trading floor of the NYSE

The NYSE is the first type of exchange (as we referred to above), where much of the trading is done face-to-face on a trading floor. This is also referred to as a listed exchange. Orders come in through brokerage firms that are members of the exchange and flow down to floor brokers who go to a specific spot on the floor where the stock trades. At this location, known as the trading post, there is a specific person known as the specialist whose job is to match buyers and sellers. Prices are determined using an auction method: the current price is the highest amount any buyer is willing to pay and the lowest price at which someone is willing to sell. Once a trade has been made, the details are sent back to the brokerage firm, who then notifies the investor who placed the order. Although there is human contact in this process, don't think that the NYSE is still in the stone age: computers play a huge role in the process.



The Nasdaq
The second type of exchange is the virtual sort called an over-the-counter (OTC) market, of which the Nasdaq is the most popular. These markets have no central location or floor brokers whatsoever. Trading is done through a computer and telecommunications network of dealers. It used to be that the largest companies were listed only on the NYSE while all other second tier stocks traded on the other exchanges. The tech boom of the late '90s changed all this; now the Nasdaq is home to several big technology companies such as Microsoft, Cisco, Intel, Dell and Oracle. This has resulted in the Nasdaq becoming a serious competitor to the NYSE.

The Nasdaq market site in Times Square

On the Nasdaq brokerages act as market makers for various stocks. A market maker provides continuous bid and ask prices within a prescribed percentage spread for shares for which they are designated to make a market. They may match up buyers and sellers directly but usually they will maintain an inventory of shares to meet demands of investors.

Other Exchanges
The third largest exchange in the U.S. is the American Stock Exchange (AMEX). The AMEX used to be an alternative to the NYSE, but that role has since been filled by the Nasdaq. In fact, the National Association of Securities Dealers (NASD), which is the parent of Nasdaq, bought the AMEX in 1998. Almost all trading now on the AMEX is in small-cap stocks and derivatives.

There are many stock exchanges located in just about every country around the world. American markets are undoubtedly the largest, but they still represent only a fraction of total investment around the globe. The two other main financial hubs are London, home of the London Stock Exchange, and Hong Kong, home of the Hong Kong Stock Exchange. The last place worth mentioning is the over-the-counter bulletin board (OTCBB). The Nasdaq is an over-the-counter market, but the term commonly refers to small public companies that don't meet the listing requirements of any of the regulated markets, including the Nasdaq. The OTCBB is home to penny stocks because there is little to no regulation. This makes investing in an OTCBB stock very risky.

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