4 KINDS OF MARKETS

There are 4 kinds of markets in Forex. You have a range bound market. A bull market. A bear market and a choppy market.

Your range bound market is a market that trades between a set support and resistance.

A bull market (which can also be range bound within a trend channel) is a market that is moving toward higher prices.

A bear market (which can also be confined to a diagonal channel) is a market that is moving toward lower prices or value.

A choppy market is an incoherent market that has no particular direction and is too haphazard to follow.

HOW TO TRADE THESE MARKETS

The best way to trade a range bound market is to buy at support with proper confirmation signals, and to sell at resistance with proper confirmation signals.

The best what to trade a bullish market is to buy pull backs (when price take a dip, or goes lower for a while before continuing to move upward).
The best way to trade a bearish market is to sell peaks (When price goes up for a while before moving downward again).
Stay away from choppy market, they have no direction and make no sense, if you chose to trade in this kind of a market. Trade on a shorter term time frame off of proper signals. Long term trading in this type of market can wipe you out fast, because it has not established a real direction yet.



Have a super trading week.

LIVE WELL, LOVE HARD AND HAVE FUN!
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This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.

Happy Thanksgiving!

Gold is Wealth

New NFA Regulation

What do the new NFA Regulations mean for you?

For those of you who have not fully grasp what it means for you, it means that you will have to have more money to hold the same size positions that you have been holding.

If you have an open position with a 200:1 margin, that requires $500.00 to keep the position opened; when the new rule goes into effect, that same position will require you to have $1,000 to keep it opened.

If you don't have the required margin, your position will be liquidated by your broker, unless they have told you otherwise.

PLEASE CHECK all of your open positions to be sure that you are not in danger of being liquidated. If you are unsure, please call your broker to be sure that your open positions are going to stay safe. Thank you

Open Forum

WHAT MAKES A MARKET WIZARD???

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The key ingredient with ‘super-traders’ isn’t as complicated as you think, as most of them share the same traits and behavioral patterns, but it’s how they put them to work in the markets that sets them apart.

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Trade well, Live well (^_^)

Taking a loss

This is a really important subject that I need to deal with because taking a loss paralyzes most traders and keep them for potential future profits.

Many traders equate losing a trade with being a loser, allowing that loss to paralyze them and cripple their judgment. This is the wrong attitude toward a loss.

A loss is only a lesson that you have paid for, learn from it. You pay for college and you pay for seminars, and you never beat yourself up for paying to increase your knowledge in those arenas. My Friend a loss is simply an opportunity that you have paid for to increase your knowledge.





When you pay thousands for college or a seminar, you never say, how could I have been so stupid, why did I do that. The truth is, a loss is just an opportunity to learn. STOP BEATING YOURSELF UP FOR WHAT IS ONLY A NATURAL PART OF TRADING. That attitude only puts you at a huge disadvantage to other traders.

The successful trader understands that the market is very generous and will give him/her plenty of opportunities for a profit.

One day, this is before I learned better, I lost about half of my account balance. I simply waited until price hit the lower trend line and went long. It only gave me the opportunity to recover a little more than half of what I loss, before continuing downward, but it was more than I would have gotten had I done nothing.

There are no absolutes in trading. Trading is more of an art of interpretation. Too many traders see losses as a flaw with themselves instead of seeing a loss for what it really is. A LOSS IS ONLY A LESSON TO HELP YOU TRADE MORE EFFICIENTLY. A LOSS GIVES YOU THE CHANCE TO IMPROVE AND PERFECT YOUR STRATEGY, IT SIMPLY TEACHES YOU WHAT DOESN'T WORK, SO THAT YOU CAN DISCOVER WHAT DOES WORK.

You can have a perfect analysis and still enter a losing trade, because the market sentiment can change, like with an engulfing pattern. It happens and it is OK.

When we set up a trade we have expectations of how that trade is going to play out. A loss is a great disappointment to that picture and a bruise to the ego. We have more trouble letting go of the dream of our glorious ideal trade, than we do taking the loss. The money is gone and it is over, but we still hang on, allowing that one hit to ruin our day and sometimes our week.

A loss allows you to build a new more profitable trading dream for yourself. LET GO of that old dream that no longer fits you and climb into a new successful dream that is more becoming of you.

STOP !!! LETTING LOSSES BE A REFLECTION OF WHO YOU ARE ! It is just part of the game. Learn it's lesson and move on.

A LOSS IS A LESSON (^_^). YOU PAID FOR IT. IT HAS SO MUCH WISDOM TO TEACH YOU, IF YOU'D ONLY LISTEN. THIS IS ONLY ANOTHER OPPORTUNITY TO PERFECT YOUR STRATEGY

Learn from your losses so that you can move on more quickly to capture more profitable trades.

TRADE WELL (^_^)

Traders Whiteboard #4 Click Here

This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.

Is the Dollar "Good as Tungsten"?

Gold Urinals or Smokes?

New Open Forum

CONFIDENCE !

Confidence, is a key ingredient in successful trading.

What do you need confidence in????? You need confident in your ability, and you need confidence in your strategy.

But I have gotten it wrong so much.

So what I went broke, it is ok. You can do this!!!! (^_^)

How do I start to rebuild??????

You start by taking a deep breathe, taking a break and investing in more education.

I have already gotten education till my head is going to fall off, and I still can't get it right. I JUST WANT TO QUIT!

That is exactly why you need to take a break, if you quit now, you will miss out on how good it feels to win.

Let me explain something, the market will give you plenty of opportunities to make profit. Every trader has losing trades. The successful traders have more winning trades. You just have to learn to take trades that are going to put the odds in your favor. You only have to win most of the times. If you lose, the market is generous and will give you another chance to try again

Trust me, you can do this. Part of your biggest challenge is overcoming the feeling of hopelessness that comes from the idea that you have failed.

YOU HAVE NOT FAILED, you didn't meet your goal, but it is ok. You just discovered how not to do things, and now you are ready to learn a better way (SMILE). I know it is hard now, but if you hang in here with me, I assure you that it will be ok.

Do you still have money in your account?

Yes, but it is just a little.......

Great, leave it alone. I want you to open up a demo or practice account, and practice on it.

I already did that 2 months before I opened my real account.

I went broke two times and almost three, so trust me here. Even though I am very profitable now, I still open a practice account to practice new strategies.

I want you to go to your library and pick up Steve Nison's books:
Beyond Candlesticks and/or Japanese Candlestick Charting Techniques.
Either book is a good place to start.

If you can't find it yet, go to my youtube channel and look at my favorites. I have uploaded lessons there on candlestick trading, it is a good place to start, but the books are better.

http://www.youtube.com/user/TRADERSFRIEND

Do you have an understanding of a lot of your indicators?

I understand them pretty well. I know you don't really use them, do I need to stop using them?

No, they are important for giving you an idea where price might go. Just don't over do it.

I want you to start where most traders should start and that is with the basics, it is so critical for traders to understand where price might reverse on them.

Yes, I can see now that is how I ended up with losing trades, because I would start out good many times and ended up losing and it would make me madder than hell.

We don't want you to be madder than hell, we want you to win at this game. Forex is a zero sum game, it has no mercy, winner take all. YOU CAN BE THAT WINNER!

Once you learn your patterns and understand more of the market psychology, then I want you to practice only on your demo account until you build your confidence back. Forex is like Poker, in that, it is a game where the ones with the confidence will go home with the pot!!!!!!!

I also want you to remind yourself often that you are not that same losing trader, and that you have grown. You have got to tell yourself that or those ghost (of your losing days) in your head will scare you to death. Those past fears will keep you out of good profitable trades which you end up kicking yourself for later.

Listen to me. YOU CAN GO LONG, YOU CAN GO SHORT!!! YOU ARE NOT JUST A BULL OR A BEAR, YOU ARE A CHAMELEON AND CAN CHANGE WHEN THE MARKET CHANGES!

YOU ARE NOT THAT SAME TRADER. YOU ARE BETTER AND MORE INFORMED. YOU CAN DO THIS!!!!!!!

Once you understand your reversal patterns, then you can combine them with what you already know. The practice on your demo account will only lend to your confidence.

When you are ready, you can start back on your real account; but make small short trades. Since you don't have much money left, trade mini if you can.

I only have a mini account.

Great, then we are in business!

Take small trades on reversal signals, but only in the direction of your trend. This will help your confidence, and help you realize that this game is not rocket science, though it can be tricky. YOU CAN DO THIS!!!

Finally come to your platform well rested, if you are fighting with your love, don't trade because a more well rested focused trader is going to take your money.

In order to trade successfully you must identify your trend, be able to read your chart, wait for proper market set-ups, recognize reversal patterns, have confidence in your ability to trade successfully and be focus. My dear Friend, never stop learning and growing the market is always teaching a new lesson

You know where to reach my if you have any questions and I will help you all that I can, I promise (^_^). It will be ok, we can do this together.

HANG IN THERE!


This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.

The New Global Reserve

Open Forum

Freegold

Guest Traders Syndicate

ADVICE:

Hi, Gypsy here.... 8^)

Most of us who are successful traders went broke at one time or another; but if you're still trading, chances are, you have learned the valuable lesson of money management. One thing I want to point out that is just as important and goes hand in hand with money management is over trading!!!!!

Even if you have the best money management skills, and over trade chances are, you're still going to end up as broke as the day you were born....as time goes on....I will share more with this blog..for now institute good Money Management and don't Over Trading your account.. Have a wonderful evening, and good luck in your trades......

Strategy:

For the beginner day traders out there. One of my favorite most basic trades is when the market has an extreme move, it will almost always drift back towards the pivot point as we get near the end of the day.

For example, if the market rallies big, around 10:30 -12:30 I'll short the SP selling usually an hour before the close. Rarely the last 45 minutes as we almost never trade the last 45 minutes or the first 30 minutes of any session.
Crude O.

Advice:

Create a game plan and act accordingly. Preserve wealth, drill and rehearse on your demo account. Find a better way to trade, through continual education. Under no circumstances do you ever truly give up FOREX. If you need help, find it! There are advisers out there who are willing to help you be successful. NEVER GIVE UP!!!!!! NEVER SURRENDER!!!! REST IF YOU MUST!!!!!! PRACTICE DRILL AND REHEARSE ON A DEMO, BUT DON'T QUIT!!!!!!!!!!
Micheal C.


Free e-mail trading course:
http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6



YOU CAN BE SUCCESSFUL AT FOREX!!!!!!

This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.

Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you need for living expenses and cannot afford to lose.

Money Talk Continued