I have decided to start my forex tips lessons with this topic because capital preservation is the most important aspect of forex trading and you can't preserve your capital unless you know how to set your stop loss correctly.Placing your stop losses incorectly will lead either to exiting a trade prematurely and missing a good oportunity or exiting too late and suffering big losses.Did it ever happened to you to enter a trade and the market going against you, hitting your stop loss only to discover shortly afterwards that the market reverted and went in the direction you initially anticipated? You don't have to answer this question, if you traded the forex market for at least a month, you've surely experienced this frustrating situation.So what do you do when you get trades like these? The vast majority of beginners in forex trading, immediately assume that their stop losses are too tight so they start using larger stop losses to "let the trade breathe".Is this the answer? Absolutely NOT! Than where is the mistake? The mistake lies in the aproach many newbies are using when placing their stop loss.Unexperienced forex traders are entering trades using predetermined stop losses and profit targets (like 30 pips SL and 60 pips PT or 20/40) that have nothing to do with the reality of the market.First you should never trade on impuls. All your trades must be well planned in advance. You enter the market only when your plan generates a trading signal and at that moment you should know exactly where to place your stop loss and profit target.Your stop loss should be placed where the market tells you. Take a look at the charts and search for areas of support/resistance, draw trendlines, use fibonacci retracements and pivot points. You should place your stop loss in a point of inflection, If that level is breached it means you were wrong on the direction of the market and your trade is no longer valid.Of course this is no holy grail, you will still have loosing trades but placing your stop loss correctly will definitely improove your trading results.Profit targetSame story goes for determining profit targets. Analyze your charts! Is it a range trading market or is it a trending market? In a range trading market if you are short you should place your target profit near support (a few pips before). If you're in a trending market use leading indicators like fibonacci extension theory and pivot points theory.Fibonacci extensionsFibonacci extensions are used to predict where the market will go after a retracement assuming it continues in its original direction. The dipper the market retraces the smaller the extension will be.The theory says that a 38.2% retracement predicts 161.8% and beyond extension, a 50% retracemnts predicts 138.2% to 161.8% extension, a 61.8% retracement predicts 121.4% to 138.2% extension and finally a 78.6% retracement predicts 100% to 121.4% extension. If all these make your head spin the example bellow will clarify everything.Calculation of pivot pointsPP =(HIGH + LOW + CLOSE)/3S1 =(2*PP) - HIGHS2 = PP - RANGES3 = S2 - RANGER1 = (2*PP) - LOWR2 = PP + RANGER3 = R2 + RANGEM-lines (midpoints between support and resistance pivots)M4 is the middle of R2 and R1M3 is the middle of PP and R1M2 is the middle of PP and S1M1 is the middle of S2 and S1Pivot points can also be used to predict an extension after a rejection near a pivot level.S1 rejection points to R1 extensionM1 points to M3M2 points to M4Find a confluence between these 2 theories and there's you're profit target.I've learned all about these target extension theories from Wayne McDonell. You can visit his website here. I also recommend you his book "The FX Bootcamp Guide to Strategic and Tactical Forex Trading" - best forex book i've ever read.My first forex tips lesson ends with this must see educative video from Wayne McDonell.

Deciding when to exit a trade is probably even more important than finding an appropriate entry point. Emotions can influence in a negative way your decision to exit a trade because sometimes instead of exiting a trade for a small loss you start changing your stop loss orders to let the trade run hoping price will revert and get you to break even or maybe even in profit zone.Sometimes you may get lucky and turn a losing trade into a profitable trade but this is the worst thing that could happen to you because you will develope a "skill" that in the end will be devastating for your balance.On the other hand you may exit your profitable trades to soon fearing that your pips will vanish.This is where Trailing Stop comes into picture. Many forex traders are using trailing stops to exit their trades because if used correctly can improove your overall forex performance. A trailling stop is a stop loss order in which the stop loss is placed at a fixed number of pips bellow the market price so the stop loss changes with the price. Take for example a long trade. If the price rises the stop loss rises accordingly but if the price is falling the stop loss doesn't move.The advantage of this technique is that you are putting a limit on your losses without limiting your gains. Be carefull when you choose your forex broker because not all forex platforms allow automated trailing stop losses. Of course you can allways trail your stop loss manually according to a rule you set but this is not very productive and requires monitoring your charts for long periods of time if you are an intraday trader.Position traders or long term forex traders usually trail their stop loss manually. One trader for example can adjust his stop loss on a long trade below last 3 days low. This can keep you in a trade for a long time and get you the most of that move.Parabolic SAR(Stop and Reverse) is a great indicator to trail your stop loss. Developed by J. Welles Wilder this indicator works best in trending markets.

This forex tip is actually more of a skill that you will learn to develop if you trade long enough.One of the reasons i love forex trading so much is that this market rewards patient traders. Did you just missed a breakout? Are you watching that strong move thinking how many pips you could have made? Don't worry, forex trading almost allways gives you a second chance. Price tends to revisit old resistance points that once broken will act as support.There's your second chance to enter the trade. It's a perfect entry because other traders who missed the move will join you and traders who caught the first move will probably reenter to ride the trend again. The risk/reward ratio is great because your stop loss will be just bellow the support and your target should be above the first high established after the breakout.Here's a recent example of a trade i made on GBP/USD.

"Never risk more than 2%" on any forex trade - it's an advice you will hear from many professional traders. Trust me, they know what they are talking about. Why is it so important to follow this rule? Successful forex traders have high winning ratios(70% or more), so why don't they risk more? Maybe 5%!Let's examine the roulette game. There's a 50/50 chance for either black or red. So you may think that out of 10 events you could expect 5 red and 5 black. You couldn't be wronger. I've personally seen 24 red numbers in a row. I couldn't believe my eyes but the casino employees weren't surprised at all and when i talked to one of them he told me he saw streaks like this many times and that he remembers a streak that went over 35. So my point is that even with a high winning ratio system you can still experience a large drawdown on your account if you don't respect the "2% rule".Loosing streaks happen to successful forex traders too, you can't avoid that, the difference between you and them is that they don't get emotional when this happens because they never risk more than 2%. Not getting emotional helps them steak to their trading rules and survive the loosing streak.I guarantee you that if you follow this rule you will improove your trading results. Not risking your shirt on a trade keeps you cool and concentrated on the market making the right decisions. PS1: Don't lie to yourself by bending the rule thinking you could trade multiple pairs at the same time. If you are in a long EUR/USD trade risking 2% that's it. You can't buy GBP/USD and pretend it's another trade. EUR/USD and GBP/USD have a 95% correlation ratio so it's like risking 4% on EUR/USD.PS2: Never ever violate this rule even if you are 100% certain that you have a great trade that you couldn't possible loose in a million years. As John Maynard Keynes used to say: "the market can stay irrational far longer that you can remain solvent” Forex traders are not gamblers so don't put all your eggs in one basket!

This is a simple and short tip. Keep your charts clean! You don't need tens of moving averages, oscilators and god knows what other indicators. The majority of indicators are lagging indicators so they don't tell you anything you can't see yourself from price action. If you insist on using a lot of indicators at least open a second chart that you keep clean so you can watch price action alone. Keep it simple stupid because in forex sometimes less is more.Happy pipping!

Is there a secret to becoming a successful trader?
There is a method that all successful traders use, and it’s no secret. It’s called
money management.
Money management is not some vague industry lingo – it simply means the
knowledge and skill of managing your Forex trading account. As simple as that
may seem, it’s the key to a long and successful trading career. And yet it is often
forgotten or neglected in the thrill of the trade. We’d like to take this opportunity
to lay out some ground rules by which you can effectively manage your account.
Don’t go looking for the Big Win; it will most likely result in a big loss. Successful
trading means consistent trading, where small wins amount to large long term
profits. Never assume that all your trades will be profitable, and plan on losses.
You should only risk a small percentage of your total account balance on each
trade. This simply minimizes your risk, so that even if you end up losing your
entire investment on a trade, it doesn’t have a critical effect on your account
balance. The recommended amount is 2% of your account balance per trade.
More aggressive traders go as high as 5%, but never higher than that. It is a very
important rule to keep, since the lower your account balance drops, the harder it
is to rebuild it.
Using Limit Orders
Learn to use the Stop Loss and Take Profit orders effectively. These orders protect
your investment and realize your profits. They are very simple tools that can make
all the difference to your account balance.
Size of Trades
You are suggested to open small trades, because in the case of a losing trade, you
can then open the opposite trade with a bigger investment or higher leverage,
thus compensating for losses.
Practice with Virtual Money
Use virtual money mode for practice. One of the unique features of eToro is that
our platform provides you with a practice environment. Virtual money mode
works exactly the same as real trading mode and uses the same real time rates,
with the small difference of no risk involved. We recommend using the practice
mode to get to know the platform and gain Forex trading experience.
And even after you’ve begun trading with real money, it is the perfect place to try
out your trading strategies. There is no point in risking your money to test out a
possible theory, when you can do so with the same success minus the risk. After

seeing that your strategy is consistently successful with virtual money, you can try
it out for real.
Remember, money management is very simple to master, but not as simple to
keep up. Once you’ve developed the money management system that works for
you, make sure to stick with it and don’t let your emotions get in the way of long
term profit, even if it means absorbing short term losses

As for news reports, these are times to be careful. Many profitable trades are
made moments prior to or shortly after major economical announcements. You
can gain a fortune as well as lose one if you’re not sure of what you’re doing. This
is why it’s important to stay on top of what’s happening in the international
finance arena. Market sentiment becomes crucial at these times, since traders
basically stampede to the market around the time of the report. eToro makes sure
to give you a heads up whenever anything major is going down.
Remember, even though you’re able to trade 24 hours a day, it’s better to plan
your trading activity in order to catch the best action for a chance to maximize
your profits and minimize your losses

Since the London session is the busiest out of the four, the best times for trading
are 8am‐9am (GMT) and 13pm‐17pm (GMT), because that’s when the London
session overlaps with other sessions.

The Forex market is open 24 hours a day, but what are the best times to make a
profit?
Even though the Forex market is open 24 hours a day with the exception of
weekends, not all hours are as equally good for trading. The reason that the Forex
market is open 24 hours a day is that it is made up of different sessions around
the globe that between them cover 24 hours.
The more markets are active at the same time, the more trades are being
executed, and the more action for you to cash in on.

Forex trading is a risky business. This chapter will explain the usage of Stop Loss
(SL) and Take Profit (TP) orders. These are used for hedging your risks and
rewards, realizing your profits and minimizing your losses.
eToro places an automatic Stop Loss order on all your trades to prevent you from
losing more than you’ve invested. If the rate of your open trade drops below
what’s covered by your investment, the trade is closed by the automatic Stop
Loss. This means the maximum amount you can lose on a trade is almost always
limited to the initial investment of the trade.
Still, there is no reason why you should wait until you lose your entire investment
to close the trade. By setting a Stop Loss order you make sure that the value of
your trade doesn’t drop below a certain level. This way you control the maximum
amount that you are willing to lose on a trade, without having to monitor each
trade around the clock.
Take Profit orders are similar to stop loss orders, only referring to profits. Take
Profit orders make sure that once your trade reaches a certain level of profit it will
be closed.
For instance, imagine that you’ve opened a Long EUR/USD trade for at the rate of
1.5400. After a few hours the rate rises to 1.5500, but an hour later drops to
1.5300. Without a Take Profit order, you might miss the rise in the rate, and end
up with a loss on your hands.
If you had set a Take Profit order, the potential profit of the trade would have
been realized, without you having to monitor the trade around the clock.
Remember, Stop Loss and Take Profit orders are very simple tools that can
make the difference between a successful trading career and a big hole in
your pocket. Consider using these orders with every trade that you make.

Are you ready? It's time to trade!
Here is a to‐do list of actions to be taken as you open a trade:
‐ Identify the pair to buy/sell
‐ Decide on the initial investment amount
‐ Choose the appropriate leverage
‐ Consider applying trade limits (covered in the next chapter)
‐ Open trade
Let’s say that after spending some quality time on gazing at the charts of several
currencies, you’ve concluded that:
1) The EUR is trending up
2) The USD is trending down
Now, what is the reasonable decision based on this conclusion?
Clearly you can profit by first selling USD and buying EUR, and then buying
cheaper USD and sell expensive EUR.
We could do this by buying and then selling the EUR/USD currency pair.
A reminder ‐ buying is done at 'Ask' price, while selling is done at the “Bid” price.
Imagine that you bought $100 worth of EUR/USD with a leverage of 1:100 at the
exchange rate of 1.5461. The details of your trade are:
Investment $100
Leverage 1:100
Units sold 10,000
EUR/USD (Ask) 1.5461
In plain English, what you’ve just done is bought (100X100=) 10,000 Units of EUR

This means that this seemingly insignificant fluctuation in the rate allows you to
cash in $77 from an initial investment of $100.
In other words you just made 77% profit on your investment, thanks to the
movement in the pair's quote.
On the example trade that we’ve just seen, your risk and reward was unlimited,
and the risk was limited which is good if you are very certain regarding your
decisions.
However, as a beginner you shouldn't trust yourself too much, as you are bound
to make mistakes. By learning about special trade order features, you will be able
to hedge your risks. rephrase
/USD, which at that specific rate represents 1.5461 USD per 1EUR.
Now, let’s assume that at the end of the day, or possibly even a few minutes later,
the EUR/USD rate has risen to 1.5538. You sell those 10,000 Euro/USD Units at
the new rate of 1.5538 and get $177 back.

Fundamentally, the minimal lot size for a trade is $10,000, thus the leverage
limitations are set according to the amount you choose to trade:

Trade Minimal Leverage
Size Lot
25 400 10,000
50 200 10,000
100 100 10,000
The advantage of trading with Leverage is that while your profits potential is
virtually infinite, at eToro your loss is limited to the amount of your initial

If you’ve been at all exposed to the world of Forex you’ve probably heard the
word “Leverage” being tossed around. But what exactly is “Leverage”?
Leverage is a very important part of Forex trading, and it’s critical that you know
exactly how it works and how to use it. It is the term Forex traders use to refer to
the ratio of invested amount related to the trade's actual value.
Forex brokers usually provide their customers with the option to trade on
borrowed capital, so that traders don’t have to invest tens of thousands of dollars
for the chance to make any real profit. When you trade at a leverage of 1:100, or
X100, it means that for every $1 that you invest in the market, the broker invests
$100. As a result, you can control an amount of $10,000 by investing $100. eToro
provides traders with the opportunity of trading at up to 1:400 leverage.
It probably won’t surprise you when we say that with greater opportunity for
profit comes greater risk. Just like slight fluctuations in currency rates can make
you significant amounts of money, it can also cause you to lose your money very
quickly. The higher the leverage, the larger the profit that you stand to make and
the quicker you might lose your investment. A leverage of 1:400 can make you
more money than a leverage of 1:100, but it also puts your initial investment at
more risk.
If you trade with a leverage of 1:100 the market would have to move 100 pips
against you for your position to be wiped out. On the other hand, if you trade with
a leverage of 1:400 the market would only have to move 25 points against you for
your position to be wiped out.
We recommend first opening a position with a low 1:100 Leverage, and only once
you see that you’ve hit a strong trend, consider opening one with a 1:400
leverage.

It is easier to make predictions with a trend than with a trading range. While you
can still profit in trading ranges, you have to be more nimble on your feet, and
ready to jump in and out of the markets at all times. Needless to say, this makes
the trader’s life a lot tougher and the risk for loss greater.
Trading ranges can be really messy and unpredictable, which is why you should
always look for trading trends. It’s a good idea to stay out all together during a
range, and get back in only when the markets start to trend again.
As a general strategy, it is best to trade with the trend rather than against it,
meaning that if the general trend of the market is headed up, you should be very
cautious about taking any positions that rely on the trend going in the opposite
direction.

The trend spotting strategy assumes that the present direction of the price rate
will continue into the future. It can be used in three main time‐frames: short,
intermediate and long‐term, with the trends being different for each.
For example, here’s a possible scenario in the Forex market:
Over the last 12 months the trend for the EUR/USD is an uptrend, over the last 30
days the trend is a downtrend, and over the last 24 Hours (intra‐day) trend is an
uptrend.
Regardless of the chosen time frame, traders will remain in their position until
they believe the trend has reversed.
So the goal is to spot a trend that you believe in and trade according to it.
Needless to say, you will need to monitor the trade, in case you were mistaken
and the trend vanishes or reverses. Then it's time to cut your losses by closing the
losing trade or by reversing ‐ closing the trade and opening a following, opposite
trade.
Warning: Speculating on Forex rates involves great amount of risk. Be advised that
even the most sophisticated traders can't always predict market movements'
directions.

Trend analysis is based on the idea that what has happened in the past gives
traders an idea of what will happen in the future.
Although this may seem pretty basic, being able to identify when a pair is in a
trend and when it isn't will help you to increase your chances to profit
consistently in the Forex market.
When you can identify a trend, you can estimate what direction the rate of a
currency pair is going to go in. You should exploit the direction of the trend you
identify by placing a trade in that direction.
If it’s an uptrend, meaning that the rate is increasing, buying the currency pair will
give you a better probability for profit. If it’s a downtrend, meaning that the rate
is decreasing, selling the currency pair will give you a better chance of making
money.
How do I identify a trend? What are the characteristics of a trend?
The simplest way to identify a trend is through the distinct patterns that the price
forms. These can tell you if the market is moving in an uptrend or downtrend.
Identifying a Forex Trend
When a trend is taking place in a Forex pair, the price movements start to form
peaks and valleys in the chart of that pair, which are easily identified.
In an uptrend, the price movements form a series of higher peaks and higher
valleys.
(Higher Highs and Higher Lows.)
Since a picture’s worth a thousand words, lets look at the following chart:
This chart suggests that the trader should buy the currency pair (and close the
trade by selling at profit after the rate rises).

In a down trend, the price movements form a series of lower peaks and lower
valleys:
(Lower Highs and Lower Lows)
This chart suggests that the trader should sell the currency pair (and close the
trade by buying at profit after the rate declines)
It’s important to note that during some trading days the trend is hard to
spot, some trading days show no trend (the price movements form a
Range), and of course you’re bound to run into the occasional reversal, so
this is not a perfectly accurate or 100% reliable indicator for trading.

Buy the pair at the Ask rate
Which means:
Buy 1EUR / Sell $1.5422
‐or‐
Sell the pair at the Bid rate
Which means:
Sell 1 EUR / Buy $1.5420
OK, but where’s the opportunity for profit?
The currency pair rates are volatile and constantly changing.
One way to profit is by buying a pair, then selling it at a higher rate.
The second way is by selling the pair, then buying it at a lower rate.

Trading Forex is exciting business. The market is always on the move, and every
tiny shift in currency rates can mean profits and losses of hundreds and even
thousands of dollars!
Let’s demonstrate how that can happen:
In general, the eight most traded currencies on the Forex market are:
USD U.S. Dollar

EUR =Euro
GBP =British Pound
JPY =Japanese Yen
CAD =Canadian Dollar
CHF =Swiss Franc
NZD = New Zealand Dollar
AUD =Australian Dollar

Forex trading is always done in pairs, since any trade involves the simultaneous
buying of a currency and selling of another currency. The trading revolves around
18 main currency pairs. These pairs are:
USD/CAD EUR/JPY
EUR/USD EUR/CHF
USD/CHF EUR/GBP
GBP/USD AUD/CAD
NZD/USD GBP/CHF
AUD/USD GBP/JPY
USD/JPY CHF/JPY
EUR/CAD AUD/JPY
EUR/AUD AUD/NZD
When buying or selling a currency pair, each pair has its own Bid/Ask rate, for
example:
Pair Bid Ask
EUR/USD 1.5420 1.5422

It doesn’t take a financial genius to figure out that the biggest attraction of any
market, or any financial venture for that matter, is the opportunity of profit. In the
Forex market, profitability is expressed in a number of ways.
First of all, just to set the record straight, you don’t have to be a millionaire to
trade Forex. Unlike most financial markets, the Forex market allows you to start
trading with relatively low initial capital. At eToro, you can start trading Forex with
as little as $25!
Right about now you’re probably asking yourself: “What chance do I have of
profiting with such a low initial investment?” The Forex market doesn’t require
large initial investments because it allows you to use leveraged trading. Leveraged
trading lets you open positions for tens of thousands of dollars while investing
sums as small as $25. This means that Forex trading has the profit (and loss)
potential of tens and even hundreds of percent a day!
What is also unique about the Forex market is that any sort of movement is an
opportunity to trade. Whether a currency is crashing or soaring, there is always
room for speculation, since you always have the option of buying or selling the
currency of your choice. Unlike the stock market, you are not limited to
speculating on rising stocks, and a falling market is just as good for business as a
rising market.
Having said all that, it is important to remember that as profitable as the Forex
market is, it still carries all the risks involved with financial trading. You should
always be aware of the risk, and never risk money that you can’t afford to lose.
Having said all that, it is important to remember that as profitable as the Forex
market is, it still carries all the risks involved with financial trading. You should
always be aware of the risk, and never risk money that you can’t afford to lose.

If you are reading this guide, you have most likely taken some sort of interest in
the Forex market. But what does the Forex market have to offer you?
Accessibility – It’s no wonder that the Forex market has the trading
volume of 3 trillion a day ‐ all anyone needs to take part in the action is a
computer with an internet connection.
24 Hour Market ‐ The Forex market is open 24 hours a day, so that you can
be right there trading whenever you hear a financial scoop. No need to
bite your fingernails waiting for the opening bell.
Narrow Focus – Unlike the stock market, a smaller market with tens of
thousands of stocks to choose from, the Forex market revolves around
more or less eight major currencies. A narrow choice means no rooms for
confusion, so even though the market is huge, it’s quite easy to get a clear
picture of what’s happening.
Liquidity ‐ The foreign exchange market is the largest financial market in
the world with a daily turnover of just over $3 trillion! Now apart from
being a really cool statistic, the sheer massive scope of the Forex market is
also one of its biggest advantages. The enormous volume of daily trades
makes it the most liquid market in the world, which basically means that
under normal market conditions you can buy and sell currency as you
please. You can never be in a jam for currency to buy or stuck with
currency that you can’t unload.
The Market Can’t Be Cornered ‐ The colossal size of the Forex market also
makes sure that no one can corner the market. Even banks don’t have
enough pull to really control the market for a long period of time, which
makes it a great place for the little guy to make a move.

For Advertisement with as

mail me zidduthom@gmail.com

it's fully free for first 5 members

USD/JPY - 90.65 ... Although the dlr fell to fresh lows for '09 y'day vs other majors such as the euro n chf after the Fed signalled that interest rates wud likely to remain low for some time, cross selling in yen limited the pair's downside somewhat as investors' appetite for riskier assets was boosted by optimism over U.S. corporate earnings reports (Dow climbed back abv the 10,000 lvl) n price rebounded after falling to 90.37.

Today, as long as aforesaid sup at 90.37 holds, upside bias remains for recent upmove fm this month's 8-1/2 month low at 88.01 to resume n abv 91.33 (last Friday's high) wud bring correction of MT decline twd 91.50 (38.2% r of 97.79-88.01). Therefore, trading fm long side is favoured but profit shud be taken on next rise as upside wud be capped well below daily res at 92.55 n yield selloff later (see our weekly outlook).

Below 90.37 wud signal a temporary top has been formed last week at 91.33n risk wud be for correction to 89.90 (prev. res) n then 89.67 (50% r of 88.01 -91.33) but only breach of 88.83 wud indicate the rise fm 88.01 has ended...

Tip 1. Gamblers go to casino. All unproved, spontaneous actions in Forex trading — are a part of pure gambling.Any attempt to trade without analysis and studying the market is equal to a game. Game is fun except when you are losing real money... Tip 2. Never invest money into a real Forex account until you practice on a Forex Demo account! Allow at least 2 month for demo trading. Consider this: 90% of beginners fail to succeed in the real money market only because of lack of knowledge, practice and discipline. Those remaining 10% of successful traders had been sharpening and shaping their skills on demo accounts for years before entering the real market.A good demo account to start practicing with could be, for example, FXGame from Oanda.
Tip 3. Go with the trend! Trend is your friend. Trade with the trend to maximize your chances to succeed. Trading against the trend won't "kill" a trader, but will definitely require more attention, nerves and sharp skills to rich trading goals.
Tip 4. Always take a look at the time frame bigger than the one you've chosen to trade in. It gives the bigger picture of market price movements and so helps to clearly define the trend. For example, when trading in 15 minute time frame, take a look at 1 hour chart; trading hourly would require obtaining a picture of daily, weekly price movements.
If a trend is hard to spot — choose a bigger time frame. Up and down market patterns are always present. Always make sure you know the dominant trend, unless you are a scalper. Scalpers have no need to spend their time studying big trends, what's happening in the market here and now (during 5-10 minute time frame) should be of only importance to a Forex scalper.
Tip 5. Never risk more than 2-3% of the total trading account. One important difference between a successful and an unsuccessful trader is that the first is able to survive under unfavorable conditions on the market, while an unsuccessful trader will blow up his account after 5-10 unprofitable trades in the row.
Even with the same trading system 2 traders can get opposite results in the long run. The difference will be again in the money management approach. To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.
Tip 6. Put emotions down. Trade calm. Don't try to revenge after losing the trade. Don't be greedy by adding lots of positions when winning.Overreaction blocks clear thinking and as a result will cost you money. Overtrading can shake your money management and dramatically increase trading risks.
Tip 7. Choose the time frame that is right for you. Choosing wise means that you are comfortable and have time enough to analyze the market, place and close orders etc. Some people can't wait for hours for the price to make a move, they like action and therefore prefer smaller time frames. On the contrary, for others 10-15 minutes is a hustle to be able to make the right decision. ...

Learning the intricacies of the forex market is a continuous process. However, here are the initial steps:
Learn the basics of the forex market: This includes researching, learning jargon, studying past records, talking to experts and analyzing the forces at play.
Identify the right broker.
Learn through a demo account before investing any money.
Learn all the tools available online and try to analyze reports to draw conclusions everyday.
Once you begin recording profits in the demo account, consider investing a small amount to begin trading.
Devise a strategy that best suits your style and financial goals.
Chalk out a strict time and money management plan for yourself. Stick to it irrespective of any development, at least in the initial few months.

Keep studying the international developments in the countries whose currencies you deal in.
Do not let emotions and opinions affect you. While instincts are important, do not let them stop you from making informed decisions. Take decisions based on instinct once you have made some profits.
Keep updating your information and attend workshops or certain other paid or unpaid courses that can help you stay abreast.
Make good use of the Internet. Join forums, subscribe to blogs and receive RSS feeds from experts. The forex section of EconomyWatch.com website can be of great help.

Learning forex trading is an evolving process that is learnt best on the job. One encounters several typical and unperceivable situations while trading and it is then that you reconsider and modify your strategy to take advantage of lucrative opportunities or to safeguard your investment in the forex market.

Prithvi Exchange

33 Montieth Road, EgmoreChennai - 600 008
Tel:+(91)-(44) 28415434

Dass India Money Changer (Pvt) Ltd.

3, Second Line Beach (Dass India Towers) ParrysChennai - 600 001
Tel:+(91)-(44) 42166604,

Coramandel Forex & Financial Services P Ltd

No:510/164, T.T.K.Road (Opp to Ambika Woodland Hotel), Alwarpet,

Chennai - 600 018
Tel:+(91)-(44) 42111477,

Seven Forex & Travels India Pvt Ltd

30, Plaza Centre, 129, G.N.Chetty Road,Chennai - 600 006.
Tel:+(91)-(44) 28251777 / 45544680

website:http://www.sevenforexindia.com/

Sri Vari Money Exchange P Ltd

Shop No.18/19, "Jain Plaza", Ground Floor, No.63, Sir Thyagaraya Road, T.Nagar,Chennai
Tel:+(91)-(44) 42605010

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange). It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes. Trading volume has increased rapidly over time, especially after exchange rates were allowed to float freely in 1971. Today, importers and exporters, international portfolio managers, multinational corporations, speculators, day traders, long-term holders and hedge funds all use the FOREX market to pay for goods and services, transact in financial assets or to reduce the risk of currency movements by hedging their exposure in other markets.MG Financial, now operating in over 100 countries, serves all manner of clients, comprising speculators and strategic traders. Whether it’s day-traders looking for short-term gains, or fund managers wanting to hedge their non-US assets, MG's DealStation™ allows them to participate in FOREX trading by providing a combination of live quotes, Real-Time charts, and news and analysis that attracts traders with an orientation towards fundamental and/or technical analysis

Make your life easy with this simple work at home business, No need to work hard or no need to have any sort of experience in this business. Yes, you might have heard these same words all around the net. But, you wouldn’t be found anything as you expected from them. This time you will find it.Very interestingly, this work at home business requires minimum just $5 dollars to get started. You may ask? What I’ll get in this business by investing just $5? Well, you’ll get your money back with your principle with profit every time. This is forex. But, how you can earn money if do not have an experience? No more experince required at all. Just find out how this works and benefits you.Now, let’s go the company profile to understand a bit about this solid base work at home job. To be honest, this is not a work at home job, but we can conclude this as is. Because, you’re earning income from home.
About the company: 4xFunds is managed and operated by 4xcell IBC. 4xFunds provides opportunities for individuals and private groups to earn from the forex market under equal conditions. Opening an account with 4xFunds is fast and easy. As an account holder of 4xFunds, you gain access to a program with highly advanced features, specifically designed to enable you to earn from the forex market without the need to know anything about forex. 4xFunds is a platform that enables you to sacredly tap into the huge forex market (Estimated at $2.6 trillion daily trade volume) and make gains daily without any skill or knowledge of the forex market.It does not matter whether you’re familiar about this or don’t. But, this can be done by anyone without any experience. As you know, Forex needs experience or some unique tools to be able to make some gains from the forex market, but with 4xFunds you do not need any experience,skill or tools to earn income.You do not ever need to trade forex, but you will make great income from forex daily. This hands-free opportunity enables you to focus on managing your income. You can start with business as you like, but minimum requires just $5 to get started.