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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. currency forex trading

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. forex trading software

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! currency forex system trading

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. forex trading system

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 currency forex online trading

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 trade

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 online system trading

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 platform 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. forex currency 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. education forex trading

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. forex currency trading system

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! currency forex learn online

So, always keep an eye on the higher time frames-you ll be glad you did! All the best, Vic Noble Forexmentor Personal Coach http://www.forexmentor.com/coaching/ More Articles on Using MACD to Trade the Forex Index of Other Forex Trading Articles Find Out How the Big Dogs Got Rich Trading Currencies What Secrets They Are Hiding From You... forex seminar

Consistency in Risk Control Peter Bain s Forex Course Member Home Workshops

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CONSISTENCY IN RISK CONTROL By Vic Noble for Forexmentor.com 2007, Currex Investment Services Inc. Jan 17, 2007

Over the past week or so we ve discussed the importance of applying consistency to your trading, and we ve identified 3 key areas that really require your attention. First, we talked about how important it is to be consistent in how you approach the markets, and that it s important not to be oscillating between trading systems and technical indicators, forever in search of the Holy Grail. forex strategy trading

Next, we focused on the importance of consistent execution of your trading plan, without hesitation, when a viable opportunity does present itself. This means being patient and waiting for truly good set ups and not just trading because of a need for action-yet being fully prepared to enter a trade with confidence and conviction when there is a good trade set up. And we noted that it s extremely important to be even-keeled emotionally, meaning that we don t have a big hysterical reaction win or lose. forex loan online trading

After opening a Forex account it may be tempting to dive right in and start trading. Watching the movements of EUR/USD for example, you may feel that you are letting an opportunity pass you by, if you don t enter the market immediately. You buy and watch the market move against you. You panic and sell, only to see the market recover. This kind of undisciplined approach to Forex is guaranteed to lose you money. Forex traders need to have a rational trading strategy and not allow emotions to rule their trading decisions. forex trader

The two emotions prevalent in the above example are greed (entering the market immediately) and fear (selling when the market temporarily moves against you). Fear is the most ever-present of the trading emotions, followed in a close second by its partner, greed. Keep these two emotions out of your trading and you will see results. forex mini trading

The trader who lacks rules and guidelines is playing a losing game. Large organizations and educated traders approach the Forex with strategies, and if you hope to succeed as a Forex trader you must play by the same rules. learn forex

The lessons contained in our complete home study course will help you to learn all aspects of the Forex trading world in an easy to understand manner, as well as how professional traders make their money. Our trading system will empower you to trade any currency pair. With the right forex training, you will soon be on your way to a profitable way to supplement your income. forex global trading

posted by ForexMentor at 5:49 AM 0 comments About Me

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• Yen to Climb as Japan May Seek Stronger Currency, ...
• What separates winners from losers
• Greenback tipped to rise as US economy slows
• Breaking News: China To Dump One TRILLION In US. R...
• Potential large pullback on the GBP/USD pair
• Fund outflows undermine Canadian dollar
• Clear and insightful view of the economy
• Canadian dollar slides after weak November jobs da...
• Emotions are a trader% worst enemy
• China Sells Dollars

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Powered by Blogger This is a paragraph of text that could go in the sidebar. Begin #main :: right column :: blog entry content Wednesday, January 17, 2007 Begin .post Yen to Climb as Japan May Seek Stronger Currency, UBS Predicts

By Stanley White Jan. 17 (Bloomberg) Japan s government may call for the yen to gain or even buy its own currency to avoid criticism from its trading partners, said Mansoor Mohi-Uddin, global head of foreign exchange strategy at UBS AG. forex learn online trading

The yen has fallen to a record low versus the euro and a 13-month low against the dollar this year, adding to pressure on Japan to stem losses before a meeting of the Group of Seven finance ministers and central bankers in February. At a September summit in Singapore, officials said they had an % nderstanding% the yen would reflect Japan s economic recovery. forex trading platform

% apanese officials have warned that the yen shouldn t weaken further, % London-based Mohi-Uddin wrote in a Jan. 15 research note. % his seems motivated by concerns that a weak yen will reignite protectionist concerns in the U.S. and Europe.% br / business forex online trading

The yen traded at 120.57 per dollar at 11:35 a.m. in New York yesterday, and touched 120.77 yen, the weakest since 121.06 yen on Dec. 12, 2005. It was at 155.94 yen per euro, and set a record-low of 158.06 on Jan. 3. Japan s currency may strengthen to 95 per dollar and 128 per euro a year from now, according to UBS, the world s second-largest currency trader. forex trading education

French Finance Minister Thierry Breton last month said the euro s %apid% rise against the yen is bad for the economy. German Chancellor Angela Merkel, who holds the G-7 presidency this year, in December said the group will discuss foreign exchange at the Feb. 9-10 meeting. Japan bought its own currency in 1997 after G-7 countries, which also include Canada, Italy, the U.K. and the U.S., agreed to stabilize exchange rates. forex signal trading

Strong Yen Policy: President George W. Bush s administration may face calls from the Democratic Party, which won control of both houses of the U.S. Congress in November, to stem the yen s decline to protect jobs. General Motors Corp. Chief Executive Officer Rick Wagoner said a systematically undervalued yen helps Japan s trade surplus by making its products cheaper overseas. forex online software trading

% e have a new Congress full of Democrats that like protectionism, % said Toru Umemoto, chief currency analyst at Barclays Capital Inc. in Tokyo. % he G-7 hasn t been conducting a directional foreign exchange policy. In an extreme case the G- 7 could adopt a strong yen policy. The yen may rise to 110 per dollar at year-end% he said. online forex

Carry Trades: Japanese policy makers may also seek a stronger yen to discourage investors from borrowing the currency to buy higher- yielding assets, known as carry trades, Mohi-Uddin wrote. The Bank of Japan will raise its benchmark interest rate to 0.5 percent when it concludes a two-day policy meeting tomorrow, according to 35 of 52 economists in a Bloomberg News survey. That would still be the lowest in the industrialized world. course forex free online

The Federal Reserve s benchmark is 5.25 percent and the European Central Bank s rate is 3.50 percent. Interest rates are at 6.25 percent in Australia and 7.25 percent in New Zealand. Japan bought its own currency in December 1997 and from April to June 1998 to curb carry trades, Mohi-Uddin wrote. The yen is weaker now than it was when Japan last bought, according to its value versus its trading partners after adjusting for inflation, Mohi-Uddin wrote. % he Ministry of Finance should intervene in dollar/yen and euro/yen, % Stephen Jen, global head of currency research at Morgan Stanley in London, wrote in a research note. The weakening yen %ttracts unwanted political attention from the U.S. and Euro-land and risks abruptly reversing later this year% to 108 per dollar and 134 against the euro. forex signal

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• Important to know for trading commodity currencies such as CAD and AUD
• Economic Outlook Commentaries
• JP Morgan Sees CAD Weakness in 2007
• Carry Trade explained by CTA Chris Lori
• Canadian Economy
• EUR/JPY pair showing clear posture to drop
• I have manged to grab 300+ pip from the USD/CAD pair
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Powered by Blogger Sunday, November 12, 2006 China Sells Dollars Courtesy of our valued member Steve Bishop. Reuters reported important statements by Zhou Xiaochuan, governor of the Peoplea s Bank of China. He was interviewed this morning at a central bankers conference in Frankfurt. Apparently, Zhou said, "All central banks are trying to diversify. a |We have had a very clear diversification plan for several years." Miller Tabak Co estimates that China now has over $1 trillion in foreign exchange reserves. Apparently, some $700 billion of these are held in U.S. dollars or dollar-denominated securities. The U.S. dollar came under immediate selling pressure. Brian Dollan, research director at Forex.com, a unit of the currency-trading firm Gain Capital of New Jersey said, "The prime beneficiaries will be the euro, yen, pound and the Australian dollar." (Interestingly, the last two mentioned have just raised their interest rates.) As far as America is concerned, a weak dollar is inflationary in the medium-term. A weak dollar, in itself, could therefore lead to an increase in U.S. interest rates, as we have forecast, to stem inflation just when a recession looms. The stagflation we have warned of may be nearer at hand that even we had thought. posted by ForexMentor | 8:49 PM 0 Comments: Post a Comment Home Forexmentor Update: Emotions are a tradera s worst enemy Powered by Blogger Tuesday, November 28, 2006 Emotions are a tradera s worst enemy The content of this newsletter is for general information and educational purposes only. You cana t trade with them, and you must trade without them. If you can't keep your emotions in check while trading, you will lose money and lots of it. We want to help minimize this by understanding the two most common emotions interfering with trading results: FEAR AND GREED Fear is the most ever-present of the trading emotions, followed in a close second by its partner, greed. I am sure you have often heard that these two are the emotions that drive the market. When you are a trader, you are always under the influence of at least one of these two emotions, even if you don't have any trades on. Fear and greed are both held in our minds at the same time. Fear motivates retreat. Greed motivates attack. Since they are conflicting emotions, they will immobilize a person until one or the other dominates and overcomes the other. The strongest emotion always wins, and both emotions are necessary, as fear without greed does not move forward. If you had only fear, you would have no reason to trade. If you had only greed, you would have no force to protect you against excessive loss. History shows that, in trading and investing, we need in some form both fear and greed. We need to properly balance and moderate these two emotions. We can begin by scaling fear back to healthy caution, and scaling greed back to realistic levels, until we get to our best trading zone. You maintain a realistic hunger for profits, while you also maintain a cautioned alertness to danger. Desire and caution hold your hands while you trade. The Fear of Losing The strongest and easily manipulated form of fear is your fear of admitting that you are wrong - fear of having your ego bruised. This fear can cause people to do incredibly irrational things. Most people would rather lose thousands of dollars than admit they are wrong. It is easy to feel ashamed of trading losses, and live denying the problem exists. Without taking the steps to address this problem, it will continue in the future. If you start falling into this cycle, consider working with a personal trading coach. Trading, like business, isna t personal. The market doesna t care who makes the money, and money doesna t care who makes it either. Impact of Fear and Greed on Your Trading If you are in a position and the market is going up: Greed is telling you to buy more, and fear is telling you to take profit. If it is going down, fear of being wrong makes you hold onto a losing position, and then greed may convince you to buy more; so, it will be easier for you to come back. If you are not in a position, and the market is going up: Fear is telling you that you're missing out, but it's your greed that causes you to get in just after the greatest increase, just when it is about to reverse its direction. If you are not in a position and the market is going down: Greed is telling you to get in as the price is low, while fear reminds you that you'll miss out on this opportunity if you don't act fast. Perhaps if we just felt fear, or just felt greed, we would be able to control our emotions a little better. But it is often impossible not to listen, when both of these emotions whisper into our ears at the same time. To be a winner in the markets, you can never trade from emotion, and the only way to eliminate emotion is to have the discipline to follow your own plan. Ita s said most traders never plan a trade, never mind have the discipline to follow one. If you want to become one of the few market winners, you must a plan every trade and trade every plan.a br / a For many traders, ita s more important to be right than to make money, these traders will hold on to a loss until the pain of losing is greater than the pain of being wrong.a -- Mark Douglas posted by ForexMentor | 7:06 PM 0 Comments: Post a Comment Home Forexmentor Update: Breaking News: China To Dump One TRILLION In US. Reserves!

• Potential large pullback on the GBP/USD pair
• Fund outflows undermine Canadian dollar
• Clear and insightful view of the economy
• Canadian dollar slides after weak November jobs da...
• Emotions are a tradera s worst enemy
• China Sells Dollars
• Important to know for trading commodity currencies...
• Economic Outlook Commentaries
• JP Morgan Sees CAD Weakness in 2007
• Carry Trade explained by CTA Chris Lori

Powered by Blogger Monday, December 18, 2006 Breaking News: China To Dump One TRILLION In US. Reserves! Courtesy of Harry (our valued member) Check out this interesting news regarding China dumping one trillion in U.S. reserves. You can read the whole article at this link (excerpt included below): http://www.halturnershow.com/ .html

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 news

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. forex genuine online 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. online forex trading platform

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. day forex 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

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Using MACD As An Aid In Determining Trend Direction Using Bollinger Bands for 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. mini forex 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 india online trading

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August 2, 2007 forex in india online trading

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

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 online option trading

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