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As many of you know I ve been running the Personal Coaching service at ForexMentor since the beginning of 2006, and since that time I ve listened to hundreds of people tell me their own personal accounts of the difficulties they ve had with their trading. As I ve said so many times, the problems that struggling traders have are very common, but also, the habits of successful traders are very common. Over the next few days, I d like to share with you some of the more glaring pitfalls that show up time and time again in the unsuccessful group. currency forex trading

One of the real biggies is a serious lack of consistency in ones trading plan. By that, I mean that so many people lack consistency in the way they approach, execute, and manage their trading. So today let s take a look at the first component, trading approach. forex trading software

When you sit down at your computer to trade, what is your trading approach Do you have something very specific that you look for over and over again-consistently (there s that word again) If you don t, how do you ever expect to become a consistently profitable trader You will be chasing the markets forever, looking for the Holy Grail, the latest greatest indicator etc. And that, in my 25 years of trading experience, will not work. currency forex system trading

Consider the following analogy: In a sport, say golf for example, have you ever noticed that the same people rise to the top of the game year after year Why do you think that is It s totally about consistency in the way they approach the game. They do the same things over and over and over that result in high performance and success. Tiger Woods does not step up to the tee box with a different golf swing every time he plays! And he doesn t change his putting routine every time he putts! And we all know about his focus! So why do you think you can change your trading approach every time you sit down at your computer and still expect consistently positive results !! Hey, are you a scalper one day, and a day trader the next, but you really always wanted to be a position trader You ve got to get these things resolved! forex trading system

So one of the most important jobs you have as an aspiring trader is to figure out how best to approach the trading day for you , not for someone else. There is a plethora of trading methods, technical indicators, fundamental considerations etc that you have to condense into a usable plan for you. currency forex online trading

I personally believe that most people need a very simple approach that gives them a specific situation to look for day after day. If the market is not set up for the kind of trade you re looking for-DON T TRADE! One of the most successful traders I have ever worked with only looks for 1 type of situation, and he only gets 4 - 6 trades per month! He knows exactly what his approach is and he doesn t deviate from it. If he doesn t see the set up he wants, he doesn t trade! But when he does trade, he almost always has a successful outcome. Let me ask you this, If he only trades 4 - 6 times a month and is very successful, and you re trading 20, 30, 50 times a month or more and you re losing money, who has more stress forex trade

We are starting a brand new year of trading-2007. Take this opportunity to examine your own situation. If you have a sound trading methodology but you haven t been consistent in using it, this would be a great time to re-focus. forex online system trading

In the coming days I ll take a look at consistency in trade execution and risk management-2 other components of consistency that are absolutely critical. Until then, keep your risk under control at all times, and be consistent! Vic Noble Forexmentor Personal Coach http://www.forexmentor.com/coaching/ Index of Other Forex Trading Articles Find Out How the Big Dogs Got Rich Trading Currencies What Secrets They Are Hiding From You... forex software

Using MACD as an aid in determining trend direction Peter Bain s Forex Course Member Home Workshops

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USING MACD AS AN AID IN DETERMINING TREND DIRECTION By Vic Noble for Forexmentor.com 2006, Currex Investment Services Inc. Dec 13, 2006 MACD

is a technical indicator that is widely available on most charting services, and it stands for Moving Average Convergence/ Divergence. Although it is a lagging indicator that plots a comparison of a short term and a long term moving average, it does represent a momentum oscillator that, when used properly, can be very effective in helping determine trend movements, including reversals. forex currency trading

One of the most common problems that traders is getting the direction right, and I d like to show you an example of how traders frequently misinterpret price action because of a flawed use of MACD. I use MACD in one of two ways-to indicate a price trend continuation , or to signal a possible trend reversal. Today, I m going to focus on trend continuation, and how false signals can be generated by making the common mistake of only focusing on the lower time frames. education forex trading

One of the problems that many traders run in to with MACD and other technical indicators is that they fail to make multiple time frame assessments. Of particular importance is that the higher time frames are much more important than the lower time frames in terms of reliability. The following charts will illustrate how this plays out. forex currency trading system

The chart below is a 15 minute time period on the USD/JPY currency pair. Notice how MACD had just crossed below its signal line at the point indicated on the chart. Many people believe that this is a selling opportunity. This is a very limited way to look at this situation. You should NEVER look at charts in isolation! In other words, check all of the other time frames before making a trading decision. currency forex learn online

Now take a look at the chart below and see what MACD was doing on the hourly chart on this currency pair at the same time. What a difference! Not only was this NOT a good place to sell (as the 15 min MACD would have you believe), but it was in fact a very good, high odds set up to buy! All you had to do was consult the higher time frame, in this case, the hourly chart, and together with some other tools, which will be the subject of other topics, you could easily have entered this as a buy. And just so you know, the ensuing move was worth over 40 pips! forex seminar

12. The 89, 144, and 200 EMAs (3:36) 13. The Stochastic Oscillator (6:36) 14. Stochastic Momentum Index (4:41) 15. SMI Daily and SMI Weekly (4:27) 16. Overbought Oversold SMI Levels (2:04) 17. Confirming Indicators RSI, MACD (2:37) 18. Exit Signals (4:15) 19. System Rules and Trade Steps (5:20) 20. Example Trade Using The Guide (4:31) 21. Test One (2:00) 22. Test Two (2:11) 23. Test Three (1:12) 24. Test Four (2:27) forex online platform trading

25. Test Five (2:20) 26. Final Word (2:12) Total: 112 Minutes INTRODUCTION SYSTEM OVERVIEW Overbought Oversold SMI Levels CHART SETUP TEST OF UNDERSTANDING VIDEO UPDATE SAMPLE forex strategy trading

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Course and Free Video Example Updates available for 12 Months Please note, due to the online nature of the course, there will be no refunds available after course purchase. forex trader

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RALEIGH, NC ADVANCED WORKSHOP

(July 13, 14, 15: Raleigh, NC) learn forex

Dear Forexmentor Friend, Are you sick and tired of having your pocket picked by other currency traders Won t you give anything to discover what they know and how they do it Is your trading result far from optimal Do you often find yourself getting into a move too late Do you watch your system until every single indicator lines up - only to see that the market has already moved 50 pips and it s too late to get in. forex global trading

Are you hopelessly confused by the dozens of Holy Grail indicators splashed all over your charts - some telling you to go long , the others telling you to go short Worse yet, are you so confused that you simply throw on a trade hoping the indicator supporting your decision is the one that pays Do you jump in when your system tells you, then price pulls back to stop you out before your position ever got out of the dealing spread! forex chart

If this is you, STOP TRADING NOW!

Because if you keep this up, your trading career is headed for a train-wreck! Do yourself a favor, learn how the professionals can consistently draw money from the weak retail participants. And more importantly, learn not to be their victims! It s no secret, if you are an ill-equipped trader, you are welcome bait to a professional trader on the other side of the market. The pros will eat your account for lunch! forex learn online trading

A lack of market knowledge will leave you completely vulnerable and exposes your trading account to extremely high risk. This is why Forexmentor has been offering advanced training to our members since our inception. What s more, Forexmentor will only offer its member s thoroughly qualified professional traders to teach and share their skills, insights and little known secrets . forex trading platform

Below is what you will learn at our upcoming Pro Trader Advanced Forex Workshop hosted by Chris Lori. Take a quick look and you will agree these workshops are packed with the most mind-blowing information ever revealed to the retail Forex traders. You will simply not find this kind of educational value anywhere! business forex online trading

*** Freshly Updated Workshop Presentation ***

More Forex Insider s Strategies Than Ever Friday Evening Session The Institutional Trading Environment: Most developing traders want to be part of a community; they want to know what others are doing and have access to information and resources that will lead to excellence in trading just like the major institutions and bank traders. This session will introduce you to the banking environment with a review of the fundamental and technical considerations made by the world s largest FX traders. *Throughout the workshop, you will also learn countless FX specific market characteristics and factors that will make a huge difference in your everyday trading. forex trading education

You will be shown daily informational resources and bank reports that are available to you to guide you in your daily trading regime. Saturday and Sunday Sessions Advanced Fibonacci, Fractals and Pivot Trading for Forex Traders: Fibonacci levels are one of the most accurate predictors of swing levels and reversal points used in the financial markets. Learn to properly apply your Fibonacci Tools for Intraday, Swing and Long Term trading. Proper use of Fibonacci and Pivot levels will give you a lead on trade set-ups allowing you to prepare your trade in advance and catch ideal entry points, just like the pros. You will also learn advanced Fibonacci applications to stalk (rather than chase) high probability market moves and use Fib. levels, ranges and fractals to manage our trades. forex signal trading

Three High Probability Reversal Patterns You Must Use in Forex Trading:

Price Patterns are leading market indicators that will show you precisely where a high probability trade can present itself in the future. This beats all those lagging indicators commonly found with cheap forex systems that lose money. Indeed, lagging indicators have their place in trading, but high probability set ups are in the hands of traders empowered with a proper step-by-step method to identify market levels in advance of price moves using powerful systematic pattern recognition techniques. This workshop will show you three high probability patterns using Pivots and Fibonacci Harmonics (and some secret lagging indicators) to help you locate precision entries. forex online software trading

There is no question that chart patterns have power in generating very profitable moves. It is always easy to see a chart pattern after the fact. You will learn to apply an excellent combination of tools to get in the chart pattern at the root of the trend or move. This will give you the flexibility to take early profits on a percentage of your position and leave you with the possibility to manage a long term trade with the remaining portion of your position. Don t aim for the home run and give back your profits, trade like a pro and build your equity! online forex

In the past, I have had a one-on-one with him, along with joining his coaching program. But, this past weekend I purchased his new course, and got my socks knocked off. WOW. What a great course. I refreshed my previous education materials that I learned with Vic, and I totally regained my confidence back to trading. course forex free online

As a matter of fact, during Monday (7/23/07) NY session, I picked 83 pips from 3 pairs using his methods. He truly has a gifted way of teaching, and has a great sense of humor to make the teaching lessons more enjoyable. forex signal

Well, Peter, I really want to thank you, and please give Vic a huge pat on the back. Robert P Meinecke Hi Peter, Thanks for the distribution of Vic Noble s course. For those among us who are getting confused about all the different indicators used in trading land, and suffer from the paradox of choice phenomenon, unable to pick the system that suits them, this will put you back on your feet. I ve been a member now for more that two years, and have made reasonable progress with my trading, but got to the stage that I was getting over-fed with methods and indicators, which made it tempting to try them out, and get beaten by the market. Without being negative to you Peter, the intense courses of Chris and Vic have made, and will make, a difference to those who feel overwhelmed with information from all the sources available. Keep them flowing. broker forex trading

Kind regards, Frank Besanger Perth, Australia Hi Vic, Thank you so much for your effort in putting out this dynamite coaching course. Your style and content are so helpful to me at this stage of my trading career, and it has come just in the nick of time, so to speak. I ve closed 11 trades since last Thursdays purchasing of your coaching videos: 10 successful for 178 pips, and 1 expense of 21 pips. forex news

I m especially fond of the Gartley Pattern. Your teaching on how to search for, and find, this pattern is very helpful and, of course, has cleared up a lot of my confusion about this pattern. I like the Asian session. I really like the NZD/JPY, AUD/JPY, EUR/JPY and USD/JPY. I actually shorted all four last week at the same time for a nice run down. forex genuine online trading

Forex Trading Articles Forex Trading Articles by the Forexmentor team, over 30 articles with valuable forex trading tips designed to help you with forex trading success. forex trading articles, Forexmentor, forex trading tips, forex trading plan, forex trading success, risk control, MACD, Bollinger Bands, forex trading consistency, risk control, Fibonacci, stochastic position trading Order

font size= 1 Testimonials Advanced Traders FAQ font size= 1 Login Contact FOREXMENTOR FOREX TRADING ARTICLES Managing the 24-Hour Currency Market With Trade Alerts Jul. 2007 Teresa Burnett The Thrill Seekers May 2007 Forexmentor Team Remembering The Obvious May 2007 Forexmentor Team online forex trading platform

Using MACD As An Aid In Determining Trend Direction Using Bollinger Bands for Forex Trading

(6 parts) Dec. 2006 Teresa Burnett day forex trading

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Forex Trading Articles, Using Bollinger Bands for Forex Trading forex trading articles, Bollinger Bands forex trading, standard deviation, moving average, predict price movement, upper bands, lower bands, flat band Forex Trading Articles, Using Bollinger Bands for Forex Trading Illustration 1

Numerous systems abound for interpreting the width of the Bollinger Bands (the distance between the upper and lower bands) to predict price movement. I would like to share a unique interpretation of the bands that works particularly well with trading forex and that interpretation is to evaluate not the width of the bands but rather the slope. commodity forex online trading

When the slope of the bands is minimal, in other words, when the upper and lower bands flatten it predicts a reversal as price touches and retreats from the flat band. The relative steepness or flatness of a band can be seen visually and does not require a complicated formula to assess. forex learn trading

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FOREXMENTOR DAILY AM REVIEW SAMPLER (complimentary 6-month subscription with course purchase, a $199 value, limited time offer)

August 2, 2007 forex india online trading

AUD/USD 200 EMA + Trendlines Analysis = Money August 2, 2007 forex option

From The Trading Desk of Peter Bain: Data has shown that the Canadian economy grew at a slightly slower pace than expected in May. This was a low-side surprise which, on top of all the other factors talked about recently, was Canadian-dollar negative. It should be noted that the economic reading in April was no better it was flat. There are concerns that the world economy is slowing, and that there will be a spill-over effect on commodity prices. Hence, commodity-sensitive currencies, such as the Canadian and Australian dollars, are being affected adversely. The Canadian dollar hit a 30-year high of 96.74 cents last week and, since then, has dropped three percent. The Canadian and Australian dollar pairs (USD/CAD and AUD/USD) represent good trading opportunities to the long and short sides respectively. The New Zealand currency the kiwi is also a good short candidate. In todays AM Review, Thursday, August 2/07, I will be exploring the Australian dollar situation in depth. You wont want to miss my detailed technical analysis. forex in india online trading

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Hi Seth, I was stunned to see your play this morning where M2 was to the pip the low for the Asian session. Looks like I ll have to change my sleep times, 5 pm is 11 pm South Africa time.In November I ll be a forexmentor member for 2 years, traded live for almost 6 months when time to fit trades in permitted. London and US sessions both fall in our work day. Looks like a few late nights are coming. I ve been on the pm preview pretty much since day 1 and you re really helped me get to a stage where my goal to be a full time trader by 1 Nov 2006 looks like becoming a reality. What is amazing is that a couple of these trades a week would cover my basic living expenses, SA s Rand is at R7 to the $ leaving other trades to build capital. Onto your question as to which other currency to choose I ve never really looked at them as I ve concentrated on cable. I would suggest that you take into account members wishes but really use your best judgement like the eur/jpy. You ve forgotten more about trading than all us newbies put together! Many thanks once again, I m looking forward to some later nights, best wishes. forex stock trading

Dave Timm, Centurion South Africa global forex trading

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Hi Seth, Thanks for the reply. You also asked we let you know which sessions we would like to attend as we move forward, so I ll stick with the 9pm-10pm EST (midnight-1am EST) ones. I enjoy your sessions very much and have already learned some things I didn t know before. Divergence in stochastics in addition to MACD was news to me. Also watching and playing stochastics while price is in a channel pattern has been a good way to pick up 5-10 pip gains as it fluctuates. This has been helpful to know when to buy the dips and sell the peaks while price finds itself again. You have to keep a constant eye on it, so it can be a time consuming method, but it seems to make money when the market is consolidating. Thanks again and I look forward to future sessions. course forex online trading

Sincerely, Sheldon D. Winchester, mA Seth, Thanks for a great set up on the USD! I paid for a few months of my membership! With more trades like this I will be able to go full time. I didn t get as high as you told us to because I missed the hit after I went to bed. But the drop was still in a good short. Next time I will set the trigger on my trade station for sure! But I am not kicking myself and working with what the market has given me. Your trade calls are very reliable. I stuck with my trade even when the market was whipsawing. News is terrible! It was only a little on the table and I am working with a new system to work with less but allow the market to make its move-even when I make a bad move and work with it. This is how I am not taking the losses I took before because I am accepting the risk with each trade and the consequences with bad calls. I am attending Vic s sessions too and they are such a blessing. You don t know how I am so thankful for these trainings! forex rate

Thanks! Zoe R. West Covina, CA Here is my feedback regarding the webinar: I think it was great: well organized, presented and paced. It was a lot of good information. I was a bit confused at the end of the webinar regarding the setup and the back testing but felt confident that I would be able to get the information via reviewing the videos. Sofar I have been through the videos twice and have gotten more clarity with each viewing. So thank you for the recordings! I find them very helpful, twice since you can t just raise your hand and ask for clarification (chat is just not the same) in a virtual environment. If they will stay up longer, I will go through them again. I also look forward to the upcoming video on the backtesting, as this will clarify/solidify things further. forex online platforms rating

I cannot tell you how glad I am to learn about the concept of trading plays. I am in my second year of trading. When I first started to trade, I remember sitting in front of my screen (feeling my heart pounding) and thinking: I don t know that I am going to be able to do this, I m going to give myself a heart attack... . I love the idea of adapting trading to my life and circumstances rather than the other way around. learn forex trading online

I have been with your PM Preview since inception and have learned an amazing amount. I have not been trading for the past 3 months, due to my work schedule and to knowing that I have to refine my skills. I will get back to trading in about a month with a greater level of skill and confidence that will be most beneficial in my trading the markets. course forex trading

Best regards and a heartfelt thank you , Johanna Hofmann Seth, Thank you for the wonderful Webinar this morning. I have been trading for 6 month... clearly a beginner; and trading a mini-account for only 6 weeks with limited success. I did not know it, but I was starting to construct trading plays with little structure and no back testing. Your class was a direct hit with the structure I needed to create trading plays. I have a full-time job and have been trading inconsistency and in search of a tool (Play) to move me away from the random trades/mis-trades. I am so existed to start creating a Play that fits me. The presentation was clear, concise and honest .. That is one thing I love about the whole Forexmentor group . Zero hype, Total honesty. forex online strategy trading

Today s session gave me the confidence, tools and structure that I needed to move forward .. away from mindlessly watching price action and hoping to make a good trade. Keep up the great work.. I look forward to more presentations and being a part of your PM Review sometime in the future. P.S. I ordered the Know where you live software as well .. I am also interested in your MACD presentation .. very willing to pay for it as well. Let us know if that is possible. Thank you again. And good luck with those midnight feeding. forex trading signal

Brad Hagen Leawood, KS The Webinar was so informative. It was layed out so simple everyone should be able to understand it. I reviewed all four parts, and came away with 14 pages of notes. Now tomorrow I will go through it again. I have already downloaded the Excel spreadsheet. This is really great for me, because I live in New York, and wanted to trade the Asian session. I have been trying to trade the London session, but it is so hard on my schedule. I always thought the Asian session was too anemic. I m looking forward to developing trading plays on other currencies. Thank you so much. May God continue to bless you and your family. forex trading training

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