If you think Moving Averages (MAs) are boring, you may be using them wrong. To make really profitable trades we have to trade with the momentum of the trend and the best way to see the trend is to watch your MAs. You can calculate an MA on your own, but after you’ve done it once or twice, why would you want to? They aren’t complicated, but how much time do you have to spend calculating averages? To calculate a simple MA, you go back over, say, the last 50 days of closing prices for a currency pair, add them all together, and divide them by the number of sessions/periods […]
Hi traders, welcome to my new blog, it’s great to have you over and to say thank you, I’ve got a special gift for you. This won’t cost you a dime and there are no hoops to jump through. CLICK HERE TO DOWNLOAD Forex Master Control FREE It’s called the Forex Master Control and it is a premium-level system that I could easily have sold for $500 to $1,000. I made a video on the download page explaining exactly why I’m just giving this system (and the custom indicators) away free so check it out here: CLICK HERE TO DOWNLOAD Forex Master Control FREE The Forex Master Control is a simple yet powerful […]
I’ve said it before and it bears repeating… “With everything good in Forex comes something bad.” I swear I’m going to put it on a poster someday. It’s true in life too, but Forex makes it really apparent. But like in life, knowing how to guard against the bad (risk) to smooth out the good (gains) in a consistent upward motion, is what progress is all about. The Trend Is Your Friend So, we talk a lot, and I mean A LOT, about the “trend” in Forex. Why? Because Forex is about statistics and probability. Seeing the trend, verifying the trend, and understanding what pullbacks (small reversals in direction) mean […]
$4500 in One Trade = A Good Day.
Are 30% a month returns really “doable” in Forex? This is a question I get a lot, especially in light of the fact that a standard S&P 500 “traditional” investment yields around 7% annually. A picture is worth a thousand words, right? So, here’s my answer to that question, that I recorded a few months ago for some of my students.
As a Forex trader, you are the one that will ultimately be pulling the trigger. That sounds like a given, but when it comes down to it, the decision to place a trade is yours. That being said, the responsibility also becomes yours. You become responsible for the losing trades, and of course, for the winning trades. Once you choose to execute that trade, there are no gurus, no TV new channels, no signal services, no husbands or wives, and no trading systems that can take responsibility. That now lies in your hands. This shift of responsibility makes you a more calculating trader, and in doing so will make you […]
As a Forex trader, you have all important trading system and the more important money management system. There is one more system that you have to have in place to be truly successful, and that would be your belief system. Trading Forex is one of those ventures that can bring you a better than average income. For some people it can be millions of dollars, for some even more. You are getting into Forex trading usually to be one of the successful traders and make millions, not to just get by. Granted there are several traders who only want to pay the bills, but most are looking to participate in […]
Often, the time it takes to become a hugely successful trader seems like it’s too much. Learning to trade and applying what you learn to generating a respectable monthly return will only take you 5 years, maybe less. The first few years are very slow and can be quite frustrating. This will pass as you become more proficient and more consistent. Too many new traders-to-be want to become hugely successful as Forex traders, but they do a lot of the wrong things. Too much time is wasted on futile endeavors, too much money is lost in live accounts that are being traded prematurely. These are normal to do in the […]
Trading the Forex markets takes a very strict set of disciplines in order to be successful. These disciplines can be learned over time, as they need to be if you plan on trading over the long haul. These lessons that Forex offers can be implemented in your day to day life and make you a better person overall. Here is a list of some of the things I learned in Forex. 1. Patience is a virtue. Trading the markets is a patient person’s game. Patience is so important when dealing with people, learning new things, and virtually anything that life throws your way. You will have that stick-to-it-ive-ness that gets […]
Now you have begun the journey on your trading career. You have high hopes and loft expectations. What is realistic as far as expectations? What is possible to achieve? The possibility to achieve the stars is very real. You can make more money than you ever thought was possible. The gains can be incredible. A good trader can make more in a day than most can make in a month. Some traders make more every day than the average person will hope to make in a year! The potential is huge. So, now that you know it can be done, how long will take until you can reach these upper […]