But I decided to give it a try since it comes with a 60-Day Money Back Guarantee so I would be allowed to ask for my money back if they did not deliver on their promises.

As it turns out, this was the only forex training program I have ever used that actually taught me how to make profitable trades in a live trading environment with real money.

In my opinion, there is only one way that you can learn how to consistently make real money with online currency trading: you must be a part of a live trading room with videos.

This needs to include comprehensive video training that takes place with real market conditions and trading with real money. REAL MONEY, not a demo account.

I have found no other way than this to make real money as an online currency trader.

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The situation that we are looking at is that the country of Greece right now has a massive amount of debt into the billions of dollars worth of loans that it has borrowed, and the country is now at risk of defaulting on these loans because they simply cannot pay it all back. What we saw recently was that the talks about restructuring the debt for Greece had hit a stalemate and the previous deadline that they had set had to be moved forward. This caused the EUR/USD to retreat from three-week highs rather quickly in a move over 100 pips over the course of the trading day, and this is an example of how news regarding the Greek debt negotiations can lead to forex trading opportunities.

As a basic rule regarding this situation, any news that seems positive or optimistic regarding the debt talks will make the EUR/USD go up, and negative or pessimistic news will make the EUR/USD go down just like we saw when the deadline had to be pushed back and the currency pair went down. The credit rating agency Standard & Poor’s also said recently on CNBC that they are likely to downgrade Greece’s credit rating, and if this news ever breaks then you can bet it will be an opportunity to earn pips by selling the EUR/USD.

There are many traders that believe in using fundamental analysis to try and predict market behavior, and many of these fundamental forex trading strategies are based upon economic indicator values that are released on a regular schedule. It is not every day that a big international news story comes along that presents an opportunity for fundamental trading signals. By following the story regarding the Greece debt negotiations and remembering the basic rule that optimistic news will make the Euro go up and pessimistic news will make the Euro go down, you might be able to earn some extra pips in the forex market by trading the EUR/USD currency pair.

One of the best strategies that you can use when you start trading a live forex account for the first time is to focus only on one single currency pair. You can even remove all the other currency pairs from your trading platform and just focus on one. It should always be a currency pair that has a spread that is under 5 pips, so you should probably stick to one of the major currency pairs such as EUR/USD or GBP/USD.

The reason this is such an important strategy to follow when you start trading your own money is because it drastically cuts down the amount of information that you feel you need to follow. You can study the charts of the price movement of this currency pair over the past month to get a feel for how it has been behaving and whether it is in a trend or not, so that when you wake up the next morning and log in to your trading platform you should already understand what the market has been doing recently and what it is doing right now.

This will make it easier for you to spot trading opportunities, and it will also make it easier to execute your trading strategy without feeling emotional since you will not feel overwhelmed with too much information. When you try to follow six major currency pairs at once right when you are starting out as a trader, this can lead to information overload or analysis paralysis where you simply cannot make sense of the information that is presented in front of you and you are unable to act.

Taking action is an important part of being a good currency trader, because you need to be able to take action when you want to spot potentially profitable trading opportunities and implement your trading strategy in live market conditions. By following this advice to focus on only a single major currency pair when you start trading the forex market with real money, it will make your trading experience much less stressful and potentially much more profitable.

Hindsight, as they say, is a wonderful thing, and with the benefit of time I can look back on my flirtations with Forex trading and I can reflect on what I would do if I could repeat the whole experience again.

Before committing to any trades I would ask myself three key questions:

1. How much time can I regularly put into trading?

Watching the Forex markets can be very time consuming. If day trading, I would need to be certain that I could be at my screens for the duration of peak trading times. For UK markets this would mean between 6.30am and 10.00am, and again between 2.00pm and 4.00pm. Watching the trading screens can be quite tedious, and a certain amount of self-discipline is required.

If trading longer-term markets (i.e. not day trading) then less time is required as trades are opened and then left for a more prolonged period of time. This type of trading is more suitable for potential traders with less free time on their hands.

2. How much stake money can I start with?

The amount of money put up front will obviously affect the potential for decent profits and the possibility of making a living from Forex trading. For example, I have invested in certain systems that clearly promised weekly incomes in excess of $750. However, what wasn’t made clear was the fact that a starting balance of $10,000 would be required!

Other systems have started with very small amounts (between $100 and $500), and through the power of re-investing and compounding have built up relatively quickly to quite sizeable balances.

If slightly more money is available, then considerable gains can be predicted. I have quoted elsewhere that if I could start with a budget of $2,000, and if I could regularly make on average 3 pips a day, then in two years I would have a running balance in excess of $90,000!

3. Can I cope with the emotional side?

Many books have been written about the psychology of trading, and it should never be under-estimated. Emotions can make or break traders. Consecutive winning trades can be really exhilarating, but several losses in a row can be equally devastating.

When losses occur there is a risk of revenge trading, and the desire to make up for lost money can be very strong. It can take a lot of will-power to exit a losing trade, turn off the screens, and walk away. You always believe that the next trade will be the big one.

To be successful in trading requires enormous self-discipline, and an ability to view the money markets as long-term sources of income and not short-term gains.

Will I go back to trading the money markets again? Undoubtedly the answer must be yes. I have a real passion for trading, and one day I will return. However, in light of my questions above, I know what the conditions will be.

1. A consistent trading effort during the peak trading times.

2. A bank of no less than $2000 to begin with.

3. A determination to stick with a trading system, have a long term view, and avoid any temptation to tweak or break the rules.

By clear application of these three conditions I know that there are profits to be made – and trading can also be a lot of fun!

Give it a go, but be careful out there!

Graham

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Graham Bray is an enthusiastic internet marketer, and for nearly five years he has been developing websites as part of his Multiple Income Pathways. To learn more about internet marketing and how you can download a *free report* visit his blog at http://www.easierinternetmarketing.com

When divergence between the price action and the indicator develops, it means a potential trend reversal in the market. MACD is a very versatile technical indicator that can be used to trade these divergence patterns.

A bullish divergence happens when the price action makes a new low while the MACD Histogram makes higher bottom. This is an indication that the bears are getting weaker and losing control of the market.

Enter into a long trade when the MACD Histogram ticks up from its later higher bottom and the price is at a new low. Place the stop loss at the latest low in the price action. If the price action continues to fall tripping the stop, look out for the Triple Bullish Divergence.

Triple Bullish Divergence is a very strong signal. A Triple Bullish Divergence happens when price action makes three consecutive lows while the MACD Histogram makes three higher lows. To trade this enter into a long trade when the MACD Histogram ticks up from its third and highest bottom while the price action is at its new low. Place the stop loss at the latest low in the price action.

A strong bearish divergence develops when the price action makes a new high while the MACD Histogram makes a lower high. This indicates that the bulls are losing control and getting weaker.

Enter into a short trade when the MACD Histogram ticks down after the second top and price is at a new high. Place the stop loss at the latest high in the price action. If you get stopped out, look for the Triple Bearish Divergence.

Triple Bearish Divergence is identified by three price peaks and three MACD Histogram higher lows. Go short when the MACD Histogram ticks down from its third higher low with the prices are at a new high. Place the stop loss at the most recent highest high in the price action.

However, when you combine the above divergence patterns with candlestick patterns, you get a pretty strong and powerful combination. Candlestick patterns and these divergence patterns tend to confirm each other.
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Mr. Ahmad Hassam has done Masters from Harvard University. Get these 3
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Why are these traders so successful? In most cases trading against the trend is a self taught skill requiring a mixture of having a special psychological, against the trend philosophy, coupled with a intimate knowledge of market behaviour.

Once you have a good knowledge of market behaviour and understand what makes trends stop and reverse these opportunities are not difficult to spot or anticipate. In general turning points occur when there is a huge unexplained volume increase in the market or near announcements or at the opening and closing of markets and at major support & resistance levels.

When retracement trading one can often use much smaller stops than with conventional with the trend trades. This offers exceptional return on risk percentages. This is so as the turning points are so well defined using the approaches mentioned above.

Retracement or turning point trading is the one way that a trader can capture up to ninety five percent of a trend. Turning points techniques can be used as both entries and exits. This makes it possible to catch huge percentages of the total moves.

There are many forex trading techniques that are being promoted and taught. Most are, with the trend techniques that require twenty five to fifty percent of the trend to identify that it is a trend in the first place. Often a reversal of the same magnitude is required to identify that the trend is over.

There are two approaches to trading turning points. You can use the exact estimated turning point as your entry using this approach. This requires a degree of accuracy but can be done when using volume and support based principles. Channel trading often results traders catching most of the move.

The other approach is to wait for some sort of confirmation before committing to the bounce or turning point. Certain approaches force this as the confirmation occurs after the bounce has happened and not at the bounce point. Using candle sticks is a good example of this. You can only enter after the bounce has happened and the spike or candle formation confirms that.

Both approaches have their merits.

There are however many challenges with Trading Turning points or retracements. Psychologically, it is often scary as it is compared with standing on a railway track in front of an oncoming train. It is quite amazing to see the relief on the faces of forex traders new to this concept when they make a profit with their first transaction and overcome this fear.

When you have experienced the low risk, high return benefits and the success ratio, you become soon mopre relaxed with this trading approach. It is often like being very scared of a wild roller coaster ride and then you just want to do it again and again after your first ride.

These types of transactions can fail. One of the biggest fears Forex Traders have about trading is the fear of failure. Some traders using some of these approaches have only a sixty percent success rate and yet they make huge amounts of money. This is so because they make twice or three time more on their winners than they lose on their losers. You need to know how to deal with losing if you are going to trade the forex market.

The concept goes against generally accepted trading “Sacred Cow” Forex trading and training concepts. traders wary of trading directly against the trend Expressions like “let the trend be your friend”. Against the trend techniques are generally not taught as often as with the trend techniques. Retracement trading takes more experience than the indicator based, trending techniques which are seen as being easier and safer to teach to new traders.

Hopefully you will consider the merits of becoming a retracement Forex trader after this article
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Alex du Plooy is a trader for Expert4x ( http://www.expert4x.com ) and has regular live trading webinars to discuss as demonstrate forex trading techniques in action ( http://www.longcandleforextrading.com/ ) . He regularly contributes to videos, articles and systems promoting techniques and trading approaches to help and assist Forex traders.

In order to catch and trade turning points in the market one has to understand what makes the market move. Market movements are caused by the buy and sell order flow into the market. It is as simple as that. You therefore have to become an expert at understanding how the market responds to these sell and buy orders and where they are likely to accumulate.

There are four major groups of market participants who cause orders to be placed in the Forex Market.

The first group consist of the major banks and institutions. The market moves as a result of their actions. You better believe this for your own trading sanity. How often have you been in a transaction which is going nicely positive for an hour or so and then suddenly goes thirty to fifty pips against you for no apparent reason? There was no announcement. There was no major support or resistance where the price turned. It was not at a special time of day i.e. market opening. One of these big players may just have placed a hundred million order in the market.Often these big players did not like the direction of a particular market trend and then boldly introduced a huge amount of orders in the opposite direction. When the price is just drifting around these orders have an overwhelming impact and will reverse the market or start a trend. The risk in not that great and often these deal go positive within minutes. This happens six to eight times a day and explains why in spite of following your trading plan to the letter your deals go bad. These moves can be traded if your broker supplies volume information and often you will see the volume go up before the trend moves.

The second group are orders placed by participants in the market based on Technical Analysis approaches. Orders like these are placed at strategic price levels and can be entry orders or stop orders. These orders accumulate around support and resistance levels in the market. This explains why when a certain price level is reached there is often a big move in the market as all these orders are activated at the same time. You need to be competent at identifying these support and resistance levels so that you can anticipate these moves. A large part of the market movement is based on these price levels. Round number price levels, Fibonacci levels, Pivot points and historic support and resistance levels are used by traders to trade these levels.

The third group are orders that are placed in the market as a result of economic announcements and news. These orders can move the market over one hundred pips in two minutes and can also reverse the market over two hundred pips in the next five minutes. These orders are motivated by fear and greed reactions to current news. You need to watch the economic announcements schedule closely to make sure you are not adversely affected by these orders. When in doubt don’t trade these potentially wild moves.

The fourth group are orders that are processed by the financial institutions based on their actual need to buy and sell currencies in order to settle commercial trade transactions or investment money movement transactions. Many times these transactions occur when financial markets open and when they are about to close. This explains how trends can occur at these times.

Using the order flow behaviour in the Forex market as mentioned above has helped many traders understand the price movements and has given them the ability to take advantage of these opportunities.
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Alex du Plooy is a trader at Expert4x http://www.expert4x.com and has regular live trading webinars to discuss as demonstrate forex trading techniques in action http://www.forextrading-alerts.com He regularly contributes to videos, articles and systems promoting techniques and trading approaches to help and assist Forex traders. He offers one on one mentorship and weekly live support webinars

So what you need is a stop loss strategy that gives the trade a little breathing room. This means placing the stop loss under the last minor low in an upside resistance breakout or the last minor high in a downside support breakout. This stop loss strategy provides the necessary breathing room while trading breakouts.

While trading breakouts, you need to utilize entry filters to distinguish a true breakout from a false breakout. One entry filter entails waiting for a certain minimum price increment before entering into a trade in the direction of the breakout. If the price moves beyond the certain minimum price increment, it means that the momentum is in the direction of the breakout.

Another entry strategy entails waiting for the breakout candlestick or the bar to close. If the breakout candlestick or the bar does not close beyond the breakout level, it means it is a false breakout. If the breakout bar or the candlestick closes beyond the breakout level, wait for the next bar or the candlestick to close beyond the breakout bar or the candlestick extreme in the direction of the breakout. If it doesn’t wait for the subsequent bar or the candlesticks before entering into a trade in the direction of the breakout.

Another breakout trading entry strategy is to wait for the pullback in the downside breakout or the throwback in an upside breakout. As a breakout trader, you can wait for the pullback or the throwback to take place and then enter into a trade in the direction of the trade or you can use it as a secondary entry if the original entry was missed.

The best method to exit a breakout trade is to use a trailing stop loss. Once, the breakout is confirmed by the above strategies and you enter into a trade, simply use a trailing stop that will trailing the price action and take you out of the trade automatically when the momentum slows down and the price action starts to make a retracement. Always use a stop loss as described above so that you don’t get burned out by a false breakout.
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Firstly be aware of many ways to enter the Forex trading market as you can. This will increase your knowledge of market behaviour but make you a complete multi-skilled trader. You need techniques you can use in sideway, slowly trending, fast trending, spiky, consolidating, reversing, random up and down market conditions because that is what the market does all the time. Bounce retracement, breakout and trending techniques should cover most of these market conditions. Volume increase, channel trading, support and resistance, price exhaustion, grid trading, type of techniques should cover bounce trading. Bounce trading is when a turning point is created when the price bounces back into the direction it came from. Trendline violations, price pattern breakouts or continuations, support and resistance violations, straddles, multiple moving averages techniques are examples of breakout trading.

When the price breaks through support or resistance creating a new trend breakout trading techniques can be used. Support and resistance, moving averages, fractal indicators, trend retracement entries, Fibonacci levels are examples of trending techniques used. When the price is in an established trend such as the six to nine hundred pip one way trends experienced by the Euro recently trending techniques should be used. Once you have these techniques identified back trade them finding examples of each technique on historic charts using different currency crosses and different market conditions. After that back trade finding entry techniques that you find particularly attractive more intensively or demo trade the techniques.

Then the most important step is to combine a number of your favourite entry techniques to form a strategy. An example of this is: If you find trendline violations on their own give you good results but that moving average crossovers and certain momentum signals are just as effective on their own why not combine these good trading techniques into one strategy.

You need different strategies for both sideways and breakout trending markets. This process is well worthwhile. It will make you a better multi skilled trader. The idea that you will find one technique that you can trade in any Forex market condition that presents itself, at any time of day using any currency can lead to disappointment.
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Alex du Plooy is a trader for Expert4x http://www.expert4x.com and has regular live trading webinars to discuss and demonstrate forex trading techniques in action http://www.forextrading-alerts.com He regularly contributes to videos, articles and systems promoting techniques and trading approaches to help and assist Forex traders. He also contributes to the Simple-N-Easy series.

They are less concerned about risk management (stop loss placement), money management (lot sizing), finding good exits for profitable deals, and the psychology of trading. They argue that if they can get a good entry the rest will take care of itself.

Most experienced traders can identify with this natural, but short sighted, view of Forex trading one has when starting out. Using one entry technique all the time does not work in practical Forex trading. That is because the Forex market is a dynamic market where the market trades sideways one moment and then starts trending the next. The market is very quite at times (before Asia opens) and highly volatile (after high impact announcements) the next.

Traders often think that one trading strategy and one entry technique is going to make them wealthy beyond their wildest dreams. Another misconception that traders often have is to confuse Forex Trading strategies with entry techniques.

Forex Trading strategies involve all the items mentioned above such as risk management, lot sizing, exit, entries, time of day factors, currency selection, psychology etc. An entry strategy focuses on the way an entry is made and the motivation for making the entry.

So what is the answer? It is important for Traders to know a number of entry and trading techniques. The reason for this is to have a collection of Forex trading techniques which can be used when various trading circumstances present themselves. If you know 1 basic entry technique and the market changes, there are not going to be many trading opportunities for you for a very long time. It is therefore essential that traders have to have a wide range of trading techniques for the many market conditions.

There are not as many ways to enter the Forex as what new traders think. Most entry technique could be classified into breakout and bounces trades, trend and trend continuation trades, momentum trades, horizontal support and resistance based trades, non horizontal support and resistance trades, mathematically calculated entry point trades and trades based on specific market behaviour.

Forex traders will benefit from investing some time and effort to understanding the principles on which the above entry techniques are based and building a repertoire of ways of entering the forex market using those principles. Very often numerous entry techniques will confirm a potential Forex market entry opportunity adding to the potential success of the transaction.

The market changes regularly and being multi skilled by having an entry trading approach that caters for all or most of these changing market conditions will increase trading confidence and stack the odds in a traders favour.
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Alex du Plooy is a trader for Expert4x http://www.expert4x.com and has regular live trading webinars to discuss and demonstrate forex trading techniques in action http://www.forextrading-alerts.com He regularly contributes to videos, articles and systems promoting techniques and trading approaches to help and assist Forex traders. He also contributes to the Simple-N-Easy series.