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Choosing A Forex StrategyTechnical analysis and fundamental analysis are the two basic areas of strategy in the FOREX market which is the exact same as in the equity markets. However, technical analysis is by far the most common strategy that is used by individual FOREX...
Forex Mechanical Trading Systems That Make Money
In essence forex mechanical trading systems are designed to make trading decisions for you. However is letting a software program that runs on auto pilot a good place to put your fiscal responsibilities as an investor? Obviously the idea of having...
Why Choose Forex?
There are many aspects of foreign currency trading (forex) that make it an excellent investment vehicle. It may be the best choice for active investors who are willing to devote a little time and effort to their business in exchange for making...
Forex Trading – Five Tips to Make Money Fast!
This article is all about FOREX trading to make you rich - and we’re going to give some alternatives to conventional investment wisdom. Why? - Because most traders in FOREX follow the norm and make average gains - while this article is about making spectacular gains from FOREX Trading and making money fast!
The Aim
Here we are going to assume you know how to trade, and you have a methodology for FOREX trading you are happy with, and can apply with discipline.
What we are going to show you here, is how to change your system from making average gains, to making spectacular gains, with simple changes in trade selection, money management, and mindset.
FOREX trading offers the opportunity to make money fast - so lets see how it can be done.
1. Accept Volatility and Risk Cheerfully
All good FOREX trading systems incorporate volatility.
You can't have a profitable FOREX trading method without taking calculated risks, and taking losses - if you can’t accept risk, then don’t trade.
Many traders back away from a market because it’s too risky - however, risk also means reward! If you are a trader who doesn’t like volatility, then go and find something else to do.
Drawdowns are part of trading; it’s volatile markets that make FOREX trading fun and highly profitable.
To the well-informed FOREX trader, a drawdown is not something to fear, but something to enjoy.
Remember: volatility = big opportunity!
2. Trade Infrequently
Many traders trade frequently and always like to be in the market. They think that in FOREX trading if they are not in the market, they will miss a move, or that by trading more frequently, they will make money - wrong!
The big moves in FOREX trading, with the best risk to reward, come a few times a year, and you should trade infrequently.
Focus on the trades that make the really big gains
3.
Don’t Diversify
Diversification is an accepted wisdom, believed by most investors in Forex trading, but it won’t make you money fast, - it will do the exact opposite.
4. Money Management
So far, you may think that we are being a little rash, but this is not the case.
We are focusing on the BIG opportunities that allow us to make meaningful gains, and this is actually, where money management becomes so important.
If you are taking risk, you need to control it - risk as much as 10% per trade, but increase your chances of success by:
1. Buying options at or in the money, to give you staying power - and prevent yourself from getting stopped out.
Many traders lose, not because they were wrong in market direction - they just were stopped out by a volatile counter move - and options will give you staying power.
2. Many traders start trailing their stops to close, they then get stopped out – but the trade runs on to make spectacular gains. Don’t fall into this trap - keep your stop in its original position - until the move is well in profit, before moving it up.
You’re looking to make money fast, and you’re trading selectively - so have the guts to go for a trade when it looks good - and milk it for all it’s worth.
5. Understand the Power of Compound Growth
IN FOREX trading the way to make money fast, is to understand the power of compound growth. For example, if you target 50% a year in your trading, you can grow an initial $20,000 account, to over a million dollars, in under 10 years.
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Written By: Stephen Todd
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 Globe and Mail | FOREX-Dollar rebounds broadly; AUD and CAD off highs Reuters ... dollar yet after getting done with major central bank events this week," said Hiroshi Maeba, executive director of forex trading at Nomura Securities. ... WORLD FOREX: Dollar Drops As Fed Kills Early Rate-Rise Hopes WORLD FOREX: Euro Down Vs Dollar, Yen As Asian Equities Weigh FOREX-Dollar falls vs most majors; euro off 5-week highs |
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FOREX: US Dollar on the rise. Leading Indicators, Manufacturing rise. Jobless ... CountingPips EUR/USD Chart – The euro dropping today versus the US dollar in forex trading and breaking through the rising support trendline on the hourly chart. ... |
WORLD FOREX: Dollar Weakens Slightly On Euro After Trade Data Wall Street Journal NEW YORK (Dow Jones)--The dollar weakened slightly against the euro Thursday, after US data painted a mixed picture ... FOREX-Dollar falls vs yen and euro after trade data WORLD FOREX: Dollar At 2-Week High Vs Yen On Asia Stock Rises FOREX-Dollar gains vs yen after US retail sales data |
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Weak dollar helps forex kitty swell $1.3 bn Economic Times MUMBAI: India's foreign exchange reserves rose $1.3 billion during the week ended March 12, largely on account of revaluation of non-dollar assets. ... |
 France24 | FOREX: Dollar slides vs Majors. Fed holds interest rate, housing data declines CountingPips AUD/USD Chart – The Australian dollar today surging higher versus the US dollar in forex trading. The AUD/USD rose to its highest level since January 19th ... Forex Market Bell by Ben Bernanke US DOLLAR: NOTHING WRONG WITH BEING PREDICTABLE USD May Fall Further Following Bernanke Testimony |
 Ecommerce Journal | Forex trends: dollar gains ground touching 2-day high vs euro Ecommerce Journal The dollar that closed Wednesday's New York trading at 1.0543 against the franc and 1.5327 against the pound is presently quoted at 1.0555 and 1.5312, ... The Trader Advantage: Forex Heats Up- Swiss And Cad Rate Questions Forex - USD/CHF climbs after mixed Swiss data Forex: USD/CHF finds resistance at 1.0600 |
WORLD FOREX: Dollar Dips On Profit-Taking After BOJ Easing MarketWatch TOKYO (MarketWatch) -- The dollar fell against the yen in Asia Wednesday as as a widely expected decision by the Bank of Japan to further ... |
