mohsinqureshii

100% Agree With you...

That's a really cool article and very good points. Thanks for posting.

I am very passionate about every one obtaining a solid financial education. A skill sorely missing in the world. I chose Forex because of the numerous advantages over the other liquid financial markets. It has allowed me to achieve a high level of financial literacy and provide an outlet for my long hold desire to teach. More importantly, Forex education and training has given me the confidence to control my financial future and that is truly priceless. That being said, we must look past the hype in the marketplace and focus on what it really takes to personally achieve in the forex market r any endeavor for that matter. I am not going to lie to you, trading Forex is not easy. But not for the reasons you may thing. I have found that in the end we are the ones that will ultimately decide to be successful or not. I know lawyers who have failed miserably in the Forex construction workers who are now millionaires. The separator is not IQ, but rather emotional discipline or Self-Mastery. Where is this obtain? Your Forex Education Is The Key!! Learning yourself will increase your bottom line more than any other single aspect. Let me just preview what emotional elements must be in place for you to succeed in Forex. You will notice that there is no mention of strategy, moving averages or pivot points! 1: Have A Strong Enough "WHY" Statement Why you want to get your Forex education and trade the currency market? Is it to save retirement? Is It to supplement your current income? Is it to replace your current job? Are you trying to accelerate your college fund? The answer to this question must be strong and full of passion! This will be the one element that will get you through the dark times all traders face. 2:You Must Create Momentum When you begin learning to trade Forex it is exciting and new, but like everything there is a finite honeymoon period and the effort begins to wade and life takes you away from your Forex education. You must create momentum-pick a time in your schedule and dedicate this to study and trading and continue to focus on the process of trading. Making money should be a secondary thought to placing sound traders. Imagine where you are going to be six months from now with a solid commitment. Hold on to that thought and never let it go. Work, Kids, friends and family- we all go'em. Don't let excuses creep in and steal your dream. 3:Overcome Any Obstacles Listen, nobody is exempt from having to climb the learning curve to achieving in Forex. There are no short cuts. Forex education is the best path. i came across a system the other day that is being marketed as a system that "you don't have to Learn" to begin trading in your live account immediately. Just watch a video for 10 minutes and you are good to go! Warning!! The sad thing is that the system approach to built on sound principals, but no system is fool-proof and without your Forex education your risk is 100% if you do not understand when that system can fail! Create a vision board of pictures that represent your "Why" statement. Put it within eyesight of your trading area. If you come to work in your car-stop listening to the radio and listen to a audio book, if you do not have the money to fund your live trading account continue trading your demo account until you can fund a live account. You will be in better position than 99.9% of the traders who fund an account right away. This why having a coach is so important. 4: Don't play the blame game You must from this second forward begin to take full responsibility for all your actions. If a trade didn't work out, do not blame the market or to strategy.Playing the blame game will be devastating to your experience. Look at each situation as a learning experience. I always say that in life there are no failures only feedback! I always ask one simple question after both a losing trade and winning trade. " What lesson do I need to learn from this to become a better trader?" 5: Don't Quit on Yourself It's your dream and I want to fight for it with you, because I know what a mistake it would be to just give up and quit. If you Quit you will ultimately learn nothing and would've missed an opportunity to turn your "Why" into your reality!" Thanks for your time..

you Know what they say; Trading Forex is 80% mental and that only 5% of all currency traders make money consistently. If this is so, and I believe it to be, then we are all in an extremely competitive environment. This means that when we trade, we must always be on our "A" game, our peak performance period. Here are 3 Simple tips to prepare you each day for the competitive playing field that is the Forex market; 1. Rest Before we turn on the computer and look at the currency pairs, it is imperative that we have ha adequate rest. Proper sleep allows us to recharge our batteries and extend our period of maximum focus. Sometimes we all wake up and things are just not in balance. Issues outside of our trading environment or our physical conditions, or lack thereof, are ruling the roost. This is when all successful traders pullout their ultimate weapon of successful currency trading. They simple don't trade! Use this time to review, read or play golf! it's all about probabilities,and the probability of success in Forex trading multiplies when we are at our best. 2.PLAN and REVIEW Currency Trading is a business and should be treated accordingly. In he business of trading currencies we all should have a plan, a business trading plan. This plan should consist of 2 components: A mission Statement which should explain your personal "Why" Why are you trading Forex? Your mission statement must be compelling enough to overcome the inevitable challenges all traders face. The second components is your trading plan. The component of the overall plan covers the execution of forex trading. Your plan should cover the what, how when and risk components of your trading. Before each trading session review your entire plan and trade it@ Make this a habit, Another trick of successful traders is after losing some focus during the trading period, Take a break and before returning refocus by reviewing your plan. 3. RELAX You must sharpen your mental saw before each and every trading session.There are a variety of methods for helping you relax and focus. You can listen to your favorite music, mediate, recite positive wealth building affirmations or listening to confidence building CD. When it comes to developing a mental edge, play every ace. The correct method is the one that works for you! After all of your preparation you still find yourself not on top of your game you can once again consider the ultimate weapon of great traders. Walk away! You do not have to trade today. Preparing for your trading session is all about placing yourself is the best position possible to take advantage of myriad of opportunities that makes the Forex market great. When you incorporate mental preparations into your daily trading ritual you have set the stage for handling whatever the currency market can throw at you with confidence, determination and clarity. Remember, above all the hype, Strategies and methodologies lies common sense. Use it and you too will find success. Thanks for your precious time..

Thanks Guys For your profitable advises. i Bought it @1620 and now i am going to hold it about 1800....;-)No Time limit and my Stop Loss is about @1540..

Forex trading breakthroughs have a lot to do with your ability to get comfortable with being uncomfortable. Success usually comes from staying in the here and now, as well as accepting the fact that he market literally can do anything at anytime. Many of your actions now may seem frustrating. Such as designing a trading plan, sticking to just a few currency pairs, learning the intricacies of a strategy. It can seem downright overwhelming too. Just imagine where you're going to be a year now with a little bit of effort and determination! Here are some thoughts to get through that learning curve a lightning speed. 1: Hard Work Now Will Pay Off later All the work you do now mastering the process of trading through Forex education will pay off. Will it pay odd today or tomorrow? Probably not, however, the small things done consistently in the right places will pay huge dividends later. 2: Focus On The Positive Losing is a part of trading. Except it and keep your self-talk 100% positive. You will find that at the end of your Forex Journey you were your worst enemy. 3: Every Experience Is A Lesson Learn from both your mistakes and your success equally. As the Question, what lesson am I meant to learn from this and journal it! 4: Choose the difficult Action Over The Easy Doing this will make you a stronger Person, not just as a trader. You will find that your characteristics follow you in trading. When you grow as a person you will enhance your ability as a trader. Ask yourself what action would a profitable trader take and then do it! Fully Present This means rejecting thinking that doesn't support your current trading objectives, including rejecting non-trading related mental chatter (what's for dinner, balancing your check book etc). Your goal is simple-- to zero in on your trading task in front of you. Enter your personal trading zone. Deny all incoming calls. Don't check your email and please do not even think about logging into your instant Messenger account. You've got to be in a place and time where you can trade without being disturbed. Ask Yourself: "Where Am I?" The answer is: "Here" Ask yourself: "What time is it?" The answer is: "Now" When you become fully present on the task of trading, you are able to achieve peak performance and gain an edge on the other traders in the market at that moment. How many times have you often have you been trading, felt in rhythm with the market, and then you become distracted,surfed the web,Checked your email and all of a sudden, your trade fell apart because you overlooked an indicator or failed to see what economic releases where due out during your trading session. Trading in the here and now is not only powerful, it is extremely profitable! When you can direct your focus on your trading task without distractions you become invigorated and infused with the energy that comes from requiring yourself to be fully present when trading you'll find that your trading all of a sudden becomes a little easier and enjoyable.When you reach this state, stop briefly to observe it and how you feel so that you can summon this mental state more easily in the future. And journal it so you can recall all the factors that contributed of your success. That way you'll be able to set yourself up in a repeatable successful trading environment. Your journal will become the greatest trading tool you'll ever own! To not become fully present when trading is to short-change your Forex Education and your account balance. It is like not accepting the greatness within your at the time the market provides you with your pip rewards. Which mental time zones do you what to be in your trading? There are only three; Past(Fear), Future(anxiety) and Present(Here). it's been said that most traders spend only 1% of their time in the Present.Could you imagine what kind of profits your mind can produce when you become fully present when trading? Remember these Thoughts when you get frustrated by learning a new trading technique or in transferring to live trading. from demo.If you are uncomfortable you're growing as a trader and take comfort in being uncomfortable. Thanks for your precious Time...Happy Trading!!

There are some facts that you simply must accept to have a fair chance to be successful at Forex trading. Let's have a look at what these facts are and if you can succeed in the worlds most exciting investment environment. Trading Markets are not scientific: The thought of approaching Forex trading by applying science is appealing. However, Scientific theories do not and never will work, because humans determine the market prices, and doing so, they don't consider scientific criteria. Most people would prefer to be able to make money without risking anything. Many vendors try to gain from this fact, offering trading systems which are described as a possibility to trade with low risk and make a regular income. The fact you must accept is that if the reward is big, the risk will be mirrored.pure and simple, risk and reward walks hand in hand. If you can't accept taking risks, you should look for another small business idea. So far it has been kind of negative, lets have a look at the bright side To be successful at forex trading will not require hard work! Work smart not hard is a perfect expression here. meaning that you don't need to learn just for the sake of learning. You'll only need to learn one system/strategy.it wont take long to learn because simple straight forward systems work best. A simple system in forex trading will outperform a complicated system, short term and long term. Why is that a indisputable fact? Because it will always be easier to implement a simple system in a complexed market. A complexed system with a lot of parameter, makes it much harder to find the right trading opportunities. The most reliable currency trading systems all tend to be simple. You can learn everything about currency trading if that's a fact, why so many Forex traders lose? The answer is the lack of mental discipline.Currency trading is more about mindset rather than just a method.If you don't maintain discipline to follow your method, the method isn't there anymore. The best way to gain the necessary discipline is to develop your own method. You'll be confident in your trading because of full understanding of the method. If you are able to accept and take calculated risks at the right time. Forex trading can be very profitable, due to the leverage at your disposal. Forex trading is not rocket science. It's a lot simpler than you may believe.

Close to 95% of all traders will lose money. We are not just talking about novices, either. Whether you trade Forex for a living, as a hobby or just for fun, odds are against you success. That's a simply astonishing fact. However. the remaining 5% of forex traders somehow manage to break even and there are those lucky few that actually make money in the currency market-- consistently! Like the TV show says...."How'd they do that,anyway?" That's the million dollar questions, isn't it? Countless books, seminars and expos have been hosted to answer this very question. That sad fact is that thousands of books have been written and countless seminars and interviews have been conducted in an attempt to answer the magic questions. The reality of the situation is that there is no magic formula; no one single holy grail of forex trading. So what do the successful traders do that the rest of us have simple not comprehended. They have mastered a process of winning where they combine and customize several factor to produce consistent results.they have mastered the process of trading. The process of trading is: Strategy---- Money Management------- Self-mastery Here are some simple Forex Education tips to help you master the process of forex trading. Forex Success Tip # 1- You have Got to have a plan You must have written business plan that will detail all aspects of your trading. When are you going to trade, how much to risk, strategies for entries and exits are just o name few. To become a consistent (profitable) Forex trader you have to plan your trade and trade your plan. Simplicity rules! Don;t make this plan too complicated. One sheet of paper for your mission statement and another for your trading plan should suffice. Anything more is probably too complicated. Forex Success Tip # 2------ Focus on your Personal psychology Knowing yourself will allow you to master the discipline necessary to execute high quality trades with solid money management techniques. Lack of discipline is fatal in Forex trading. Go on a personal journey to identify your attitudes towards risk and money. Get intimate with your strengths and weakness as a trader and build in to your trading plan strategies to minimize those weakness and maximize your strengths. Different personalities lend to different trading styles. Get familiar with all the different styles and over time you will begin to gravitate towards one particular style. Don;t fight the urge like I did. I insisted i was a day trader, but had only limited results. I found my winning percentages were much much higher when I entered swing trades. Guess what's my bread and butter strategy now! Forex Success Tip # 3----- Be Realistic About Your Expectations This is a hard one, i know! I am on the internet every day and the amount of advertising is staggering. Brokers are offering free education (Fox in the hen house if you ask me), forums of all different trading styles and points of view. Gurus pushing their system as "the one" that will make you the big bucks. How do you get through all that noise? Let me tell you loud and clear right now. Every one is right and everyone is wrong,You have to make a personal commitment to become a successful trader, find a trading style that works for you and expect a slow and steady approach to wealth building through forex. What works for me may not work for you. Expect to go through an exploratory period where you are learning and at the same time exploring yourself as a trader. Keep an open mind and do not pay attention to all the noise out there. Forex success Tip # 4-- Be Patient Rome was not built in a day and neither will your trading account. In fact, I tell all of my fellows that while they are studying to become successful Forex traders they Should not look solely at their account balance as an indication of success of failure. By tracking and increasing your percentage of high quality trades you execute is a far better barometer of your progress than your account balance. Cause and effect rule here. Over time when you increase your probabilities thorough the execution of high quality trades your account balance will respond accordingly. Keep the focus on the process and with time your results will blow your mind. Success Tip # 5-- Money Management is Top Priority I would rather have a shaky strategy and excellent money management techniques than the other way around. this Topic warrants its own blog post to do it justice. Limited your exposure (Risk) allows for you to stay in the game and allow the laws of probability to work. Let's take casino for an example. They need gamblers to frequent their slot machines to make money . Why? They have a game that has a greater than 50% chance of making money for the house. The more people that play the slots, the greater the casino's profits. The casino controls risk by payout tables (always favoring the house!) and increase their probabilities by keeping gamblers at the slot machines. As a trader you must limit your risk by committing only 1% - 3% of "available capital" to a single trade. When you execute enough trades with a high probability strategy you too can clean up like the casinos, but only by staying in the game long term. In conclusion, Forex trading is not easy, It's hard work and will test the limits of your patience and perseverance. If anyone tells you otherwise, buyers beware! It can be a very rewarding and profitable venture if done correctly. In the end it is a profession that requires a learning curve and practical experience, no different than an airline pilot or engineer. Understanding how to approach and learn this game will allow you to reap all the benefits advertised. It is your Forex Education that you will master the Process of Forex Trading. Thanks for your precious Time...

I will buy it tomorrow If any broker give me the rates...Lolz:haha:

Thanks a lot Obsidian. I got your point. I am Also Think Like that...

Have you ever been in a situation where you have evaluated the market, saw your strategy set-up perfectly and then just couldn't pull the trigger? You become paralyzed, unable to move even though you know your high probability set-up has just triggered. This fear is very real for many traders and very detrimental to your account. Fear is a powerful emotion, distorting fact from fiction and often creating an emotional response. Many experts tell you to trade without emotions, but is that really practical? We are indeed human. Remember the basis for the reaction is real, but the fear usually is not. Fear blocks your ability to execute high probability trades and we must find strategies to manage our fear with time comes experience and for traders it is the ultimate super hero for fear. in the meantime, If you are struggling with fear based execution challenges here are some simple tips to get you over the hump. Embrace The Emotion Acknowledge your emotions. If you find yourself analyzing a trade to the point of paralysis don't try to ignore the emotions. Separate yourself from this river of negativity. Visualize yourself on the river bank as these torrents of emotions are flowing by. you will gain great awareness to the triggers and learn a lot about who you are as a treader. Separate Fear From Fact If you fear pulling the trigger because of loss (what if I am wrong), that will stop you from enjoying the profits the market may make available to you at any given time. Don't avoid the action that might cause the loss, but re frame the problem as fear itself. You have evaluated the market, figured out your reward to risk ration and accepted your potential for loss through your stop-loss and money management plan. At this point loss is not the obstacle fear is. There is no such thing as failure, only feed back and that will guide you to consistent and profitable trading. Re-Think the consequences If your mind is off to the races with all sorts of possibilities what's the worst that can happen if Murphy's Law gets enacted during your trade? You have already addressed this in your trading plan. Plan your trade and trade your plan. Again fear is trumped and the only way it can be realized is if you didn't follow your plan. Sticking to your plan is the clearest way to distinguish between a losing trade, which is just a part of business, and a bad trade which is a career Killer! Act In Spite Of Fear Feel the fear and do it anyway. Return to your mission statement or your "WHY?" statement. The reasons you trading should be big enough to overcome any possible obstacle your fear emotion can conjure up. Acknowledge the fear and do it anyway. You may not have a winning trade, but you will have executed your plan and over time probability will pay you back. What is all comes down to is the intangibles of trading. Why do I and so many others drive home discipline-based Forex Education and Training approaches. You will never get rid of Fear, but with practice you can turn it into a manageable obstacle and deploy it to your advantage. Thanks for your precious time. Happy Trading!!..

It is Important to find the forex strategy right for you! When I begun learning to trade the forex market I was introduce to intraday trading using 5-minute charts. I gained an understanding of nuances of market movements and the importance of technical tools, such as simple/Exponential Moving averages and Fibonacci. These proved to be valuable lessons coming from the options world. This style of trading just did not suit my personality. It was necessary step, but as soon as I felt comfortable and confident in the 5-minute trading style I dialed my chart right out to the hourly charts and beyond. I know lots of people that like the fast pace, simplicity of this style and are some of the most successful traders I know. I am not just one of them! My personality fits a longer term view and i just did not thrive in the faster paced decision making required in the 1-minute and 5-minute styles. my focus is on swing trading on the 240-minute chart and itraday trading on the hour and 15 minute charts. It is important while you are learning to trade Forex. You maintain an open mind to all Forex strategies, but in the end your personal trading style must recognized and exploited for long term success!

Learning to trade forex is not an easy task, but by no means it is difficult either. Learning to trade forex does not require a great intellect or a college degree. Doctors have failed as traders and construction workers have become millionaires. Trading is all about discipline, determination and perseverance. The key is to understand who you are as a trader and trade to your strength. Leveraging your strength can be magnified by deploying the appropriate Forex trading strategy. There are hundreds, if not thousands of forex trading strategies out there. Logic will tell us that there is a currency strategy out there which leverages our strength. it is not one size fits all world. To immediately cut to the chase and take away the magic, it all comes down to two basic trading strategies; trend-following and range-bound. All forex trading strategies use a variety of indicators and combinations, MACD, Moving averages, Stochastics, Chart patterns, Candlesticks, Pivot Points, Fibonacci ratios, Elliot wave analysis, Bollinger bands, Parabolic SAR, relative Strength Index(RSI), and the list does on and on. Lets take away the magic again. These indicators and studies are merely measuring support and resistance and trend in the forex market. But which strategy really works ? This is the old age question. First, we must understand who we are as traders. Does our personality fit the pip sniper mode or does our disposition attract us more towards swing trading. Finding your trading personality will mean studying and experienced the different time frames and/or comfort trading one style over others. Pay attention! The market is is telling you where your skill is more capable of extract consistent profits for the market. This is Why Journaling is so important to your Forex trading routine. Secondly,IF you are using someone else's strategy, a most of us are, deploy this strategy without change until you fully and completely understand all aspect of the strategy through back-testing and actual experience. Just dance the dance you have been taught until you learn a dance of your own! Don't fall into the trap of jumping from strategy to strategy or combing different strategies when the one you are using does not yield immediate success. This is only a recipe for disaster. Take the time to really understand the trading strategy. Study the components individually so a deeper understanding of the strategic mechanisms is mastered. above all, know when and when not to deploy this strategy. You will not find consistent success implementing a trend following system in a range-bound currency market. So what's the right strategy for you? It is simple, the one that works. It does not matter is it is complicated or simple, trend-following or range-bound, uses Fibonacci studies, pivot points or both. If you understand the components, internalize its use, and drive consistent profits into your trading account, then you have your forex trading strategy. It does not matter what the experts say, your account balance is the ultimate judge and jury for your forex trading strategy. Thanks for your precious time.

Is this good to Buy GOLD Here for Long term or we should wait? Will Next Quarter Give us a new Historic High??

It is Really Cool Article.... I found it really helpful and interesting..Thanks for sharing...

Here's an article I found in my files. Now is an excellent time to re-enforce those good trading habits and thoughts..... Enjoy!!! How many Pips do you need to be wealthy? The answer may surprise you. A very common thought and question among us forex traders. Of course this is variable in desires; however it is a good idea to put things into perspective. In reality, the following is what separates the gamblers from the traders. About 2 years ago I sent a similar letter that changed the outlook and the lives of many traders. While most at the time were mini traders a simple 25 pip gain equated to a mere $25.00. How can I live off of that? I was repeatedly asked. It didn't take long to put this into prospective. Determining Percent Return Profits are one thing, percent return is another. Monthly profits may add up to look nice or not so nice, but what is the actual return? I am sure we have all heard traders say " I made 1,000 pips last month." OK.. what was your percent return? Not only for one month, but for the life of your trading. Return Calculation The simple return calculation is used to determine your return on an investment after you sold it. Or in this case, the profits after closing trades over a period of time. Here is the formula: Net proceeds/Cost Basis-1 x 100 Let's run through a simple example. Suppose you traded one standard forex contract for a profit of 200 pips. This would be a raw profit of $2000. The cost in this case was the spread and the margin needed to secure the contract; the most common margin is 100:1 . Thus it cost a temporary, $1000 to secure this contract. We say temporary because we all know we would not trade without a stop loss, most likely the stop would have been worth about $250. Calculation: Net Proceeds= $2000 Cost Basis= $20 (spread) + $1000 Margin ($2000/$1020-1) x 100 = 96% (Just under 100% in a single 30 days) So if you are trading with a 100:1 margin and averaging around 200 pips per month you are close to a 100% return per month. What about per year? Try it, you will be amazed. (Hint: Don't forget to compound.) Take Home Message Trade Conservatively, a few 25 pip trades per week (100 pips per month) on a single lot can give you a Good Return for a month.Build your account slowly, trade with the same level of caution, just add more lots. This is the best method, the most realistic method and the lowest stress method of enjoying the rewards of forex. (courtesy by: John Keister) Thanks for your precious time.

You ever watch a court room drama on TV and have the judge order a recess just as things are getting hot and out of control? Have you ever been in a trade when things got hot and out of control? Well, that is the time to stop trading and time to regroup! Professional traders have a built in advantage in the form of a professional risk manager. These risk managers oversee the traders and monitor their trading activities. Once professional trader drops below a certain level they must cease trading activities and re-access the market and their trading criteria. Professional traders are not the only ones with a risk manager to over see their activities. In baseball, When a pitchers is having a rough outing the pitching coach will call time out and visit the pitcher. The pitching coach will discuss strategy and mechanics in an attempt to get the pitcher from the game. Better to stop the pitcher from continuing in order not to jeopardize the game further. We must also think about having a risk manager! Individual traders do not have a professional risk manager at thier disposal. The individual trader must rely on trading, discipline and a solid trading plan. Like a court room recess or a pitcher being taken out of the game. We must program into our trading plans rules for taking a time out and re-grouping after a series of poorly executed trades or market misreads. Loses are a part of trading. However, we should have a maximum daily and account size draw that would trigger a predefined re-evaluation of our trading activities. If we do not have a strategy to regroup built into our trading plan, then you risk letting emotions rule of trading decisions. That can only result in a downward spiral and a quick end of your trading capital and possibly to your forex career. Remember, the market is always right! But also remember that the market is not trying to punish you. The market is only providing you feedback! The market can be a great teacher, but only if you are prepared to take advantage of the lesson. "The expectations of life depend upon diligence; the mechanic that would perfect his work must first sharpen his tools" Thanks for your precious time.

Market is always right...if market tricks you...its better to sit aside and take a break....after a break market will you you a better upportunity..

Have you ever found yourself on the wrong end of a series of losing trades? have you thought about or journal how you felt as you were ready to execute that next trade? Next time this occurs, Write down those negative thoughts in your forex trade journal. Currency trading (and any trading for that matter) is 90% mental and we should explore and embrace this side along with our pips and moving averages. When we have a string of losing trades our trading self-esteem tends to take a real hit. the successful forex traders learn from their mistakes and move on. Just look at a hall of Fame baseball player. Most if the hitters in the baseball Hall of fame are described as having a slightly greater than 0.300 batting average. That means that they are successful in getting a base hit 3 out of 10 times. THAT'S A 30% SUCCESS RATE!! They failed to get on base 7 out of 10 times! Yet, they are considered the best in their profession. Forex trading is similar to baseball. Even though the Hall of Fame baseball player fails 70% of the time, the player has belief that success is waiting for them at ever at bat. They study the pitchers and eveluate every situation when they are at bat to maximize the probability for success. When they succeed, they celebrate! We as forex traders must learn to carry this same approach to our trading. We cannot treat our trading experiences like a sign hanging in the window for a restaurant saying "Free Food Tomorrow." When we come back the next day for our free meal the same sign is hanging in the window. Well, we will never receive that free meal, You will never feel satisfied. You must learn self-satisfaction. You must become your our cheerleader. you must learn to celebrate your success, even if it it is a losing trade! Take the positive aspects and expand them, because what we focus on expands! Just like the baseball player we study the forex market, evaluate the trade and execute the trade with a belief of a successful outcome every time. Do we always succeed: No! But we know we can also be successful and profitable losing a high percentage of the time. Trade and money management rules allow us to prosper. The other day I was patently waiting for a trade set up with the USD/CAD. I waiting and the trade triggered. I had it planned and entered on the correct candle pattern, with the correct lot size and the correct stops. Just before my plan said to tighten my stops the pair reversed and stopped me out at my predetermined exit. I was happy! Why? There is a big difference between a bad trade and losing trade. I did everything correct according to my plan and the trade did not go my way. I celebrated by giving myself a high five and began looking for the next trade. The law of averages will eventually work in my favor just like the baseball player. Just Like my freshman year in college when i was competing for a spot on the baseball team. I was really practicing well and had an assistant coach in my corner. He convinced the manager to give me a chance in next game. I got my chance and went 0 for at the plate. I had a 0% success rate, but that did not tell the whole story. I hit 4 Solid line drives that the other team caught for outs. The next game I went 4 for 5 RBI's because i had the belief that i was doing everything correct. For those of you who are struggling to manage your losses try this. Conduct a review of your trading journal and write on 3X5 index card all those mistakes you have made in the past that you feel are creeping into your current trading decisions. Have this card next to you when evaluating your next trade. I bet you those mistakes and negative thoughts that are holding you back today will soon vanish and you will be trading in the correct frame of mind. Embrace your mistakes and don\t beat yourself up! No more "I am not good enough to make money in forex" thinking. Anything fully experienced will soon vanish! Thanks for your Time.

Really Like it...Short and Simple for New traders...

There is one thing anyone who trades the forex market will come to realize at some point in their trading career is that at any given time the market can and will do anything. As Technical traders we have spent time studying the markets and have grown fond of the lessons price action has taught us. We use events of the past to anticipate high probability actions of the future. But the hard and sold reality is that the market is the only one that truly knows what the market is going to do. In the market there are buyers and sellers.Buyers will move a currency pair higher, while sellers will move a currency pair lower. Since there are human participants in the market we use tools of nature in our technical analysis such as Fibonacci ratios and Elliot Wave analysis. But in the end of profitability of a trader comes down to our basic beliefs. When the market is moving up there are more forex traders with a belief of the market moving higher then there are traders believing the markets are moving lower. It is that Simple! To keep trading profitably we must exhibit solid trading beliefs in ourselves and in our trading systems. Here are three(3) traits we must incorporate into our currency training belief systems to have consistent success. 1) We must pre-define the risk before entering any trade. We must be able to quantify the "what if i am wrong" question. It is always the trader that is wrong and never the market itself. 2) Listen to the market. It Will Answer your question. Don't ignore what the market is telling you.Solid traders will cut there loses with hesitation or reservation when the market goes against them. 3) Good forex traders have a systematic and organized system for taking profits. When entering a trade a successful trader will access the risk in a trade, enter a trade on a systematic risk-reward ratio and exit (without hesitation or reservation) when a profit target is achieved. Expect the unexpected Knowing the risk and reward and taking the trades that the market gives you is the best, most consistent way to succeed in the forex market.Trading the forex market is a marathon and a sprint. you will hit some home-runs, but only if you apply a consistent and systematic approach to your trading. we All believe in something. Believe that the market is always correct and when you are wrong the market is not branding you as a failure, merely proving you with feedback to make you an even better trader!

Control Your Emotions.....!!! Did you Know that 90% of all forex traders lose money? Now I bet you are questioning my zeal for trading the spot forex market! If you are just starting out trading this market this not a very good omen. How do you ensure that you become the 10% that succeed, especially if given the fact that so many traders are willing to part with their hard earned cash? There are many reasons for these abysmal stats: lack of discipline, lack of money management skills, and many more. I think the reason for poor success rate is that 90% of the traders can't manage their emotions while trading.This is the demon I fight daily. Money management and discipline are the symptoms, but emotions are the root cause. From day 1 of trading currency markets i have heard every guru shouting at the top of their lungs to cut your loses and let your profits run. Or that anyone can put on a trade, but it is the professional trader that knows when to exit a trade. It seems like a simple concept to let your profits run and take those profits when the markets offers them up to us. But why can't we get this right? Emotions!!! The curse of all traders, the last and most difficult skill for us to overcome is to remove the emotions from our trading. Period !! Well i got news for you....You can!! You, my friend, are a human being and thus an emotional being. OK, so we must trade emotional-less, but that is beyond the realm of most traders. Letting emotions interfere with your trading can manifest in many ways. Let me just give you some examples of my past (and sometimes present transgressions). 1) Taking a loss and angrily reversing my position only to have the market resume in my original direction!the infamous revenge trading! 2) Listening to trade signals from members of my trading group instead of litening to my own signals and intuition (afraid I was going to miss the proverbial boat!) 3) And my personal favorite... Having the market retrace and return almost to my original entry point, exiting and having the market execute a classic continuation pattern to original target (a target that was selected in advance before the trade was executed). What do we do? i have been following traders that focus solely on trading the news or other fundamental factors. Although this has some merit it won't do sequal fr checking your emotions. Technical analysis should be your weapon of choice for keeping your emotions in check. Do you analysis before your trading session. Follow your trading plan (money management and strategy) as though your life depended upon it (your account balance certainly does!!). Visualize your trade execution like tiger woods does before every golf shot and above all, trust yourself! I repeat the following mantra before every trading session. " I am the world's most disciplined forex trader. I trade my Plan and I plan my trade. I trade with confidence and decisiveness. If the reason for me to be in a trade no longer exist I will cut my losses or take profits without any hesitation." I am an emotional person. It makes me feel alive, however when I trade I want to be a stone-cold, calculating pip capturing fool and leave the emotions for ehen I shank a drive into the water at the golf course. Thanks For your precious time.

I Also want to sell it about 1660 or above...;-)

1)UK inflation data: Tuesday ,9:30 Inflation in the UK continued to decline in January reaching 3.6% from 4.2% in December. This reading was in line with predictions but still higher than the 2.0% BOE's target rate. A further drop to 3.4% is expected now. 2) US Building Permits: Tuesday, 12:30 The number of building consents issued in the U.S increased in January to 0.68 million, in line with expectations following the same figure in the previous month suggesting a growth trend in the housing sector. Another rise to 0.69 million is anticipated. 3)US Existing Home Sales: Wednesday, 14:00 Existing Home Sales jumped 4.3% in January to a 4.750 million annual rate, triggered by an average price reduction of 4.6%. The boost in sales decreased house supply which is a good sign for the housing market.Existing home sales is expected to grow further to 4.61 million. 4) NZ GDP: Wednesday, 12:45 The New Zealand economy is in a growth trend since 2009. NZ expanded 0.8% in the third quarter of above the 0.6% growth expected by analysts following 0.1% expansion in the previous quarter. Manufacturing activity increased pushing up the GDP figure, NZ economy is expected to expand 0.6% this time. 5) US Unemployment Claims: Thursday, 12:30 The number of people filing initial unemployment claims dropped more than predicted last week going down to 351,000 claims, the lowest point in four years suggesting a further improvement in the U.S job market. The previous reading was 365,000 and analysts predicted a drop to 357,000. A small rise to 355,000is predicted now. 6) Canadian Inflation data: Friday, 11:00 Consumer price index grew unexpectedly in January with the headline CPI rising 0.4% following 0.6% drop in December and core prices have been also elevated gaining 0.2% after 0.5% decrease on December. The recent rise was due to increase in energy prices.CPI is likely to add 0.5% while core CPI is predicted to gain 0.2%. 7) US New Home Sales: Friday, 14:00 US New home Sales Dropped in January to 321,000 from 324,000 in the prior month but higher than the 316,000 predicted, suggesting the housing sector is improving and the supply of properties is running low. A rise to 326,000 is anticipated this time. *All times are GMT.