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Develop Your Forex Strategy: Every Candle Tells A StoryYour forex strategy will be greatly enhanced by a thorough understanding of candlesticks. Used by Japanese traders for centuries, the Western world has only recently (since around 1991) become aware of their value due to the work of Steve Nison. ...
Forex beginners: Learn about risk in Forex trading
Foreign currency exchange, or so call FOREX, had become one of the best home businesses you can venture in nowadays. By trading foreign currencies thru Internet, theoretically now one can now make money at anywhere, anytime. For the new comers,...
Forex Trading Pivot Points
Many traders and novices are looking to make money in Forex, however only 5% of Forex traders ever make a dime. The question then becomes what are the 5% that are making money in Forex doing that the other 95% are not. The truth is anyone can...
I Found The Forex Holy Grail, Do You Want It?
Sound familiar? Well, it should. Every time you read about a managed fund, or Forex trading system, this is exactly what your are buying into. Obviously, you would never give your money to a fund if they can't provide consistent profits, and in most cases a "detailed" view of historical results.
O.k. I am getting ahead of myself. Let me take a step back and explain the question I am trying to answer.
Who should I let manage my account?
To me, there is a very simple answer to this question. YOU SHOULD MANAGE YOUR ACCOUNT. No other individual in this world understands your strengths, weaknesses, and tolerances better than you.
Yet there seems to be a never ending growth of funds and/or trading systems available online. Every one of them, of course, show substantial profits in the past. The question, then, is this.
Why are they sharing this great fortune with us? Why not just invest more of their own money, which they have just recently earned, and increase their profits?
There is a relatively limitless amount of money available in the Forex. Why would someone want to earn 25% of your profit as a management fee instead of 100% of theirs. Because both of those things can not happen at the same time.
Every Forex broker offers guaranteed fills on your orders under normal market conditions. This means that a $1 order is treated the same as a $1,000,000 order (whatever the maximum is with your Forex broker). So, as long as your trade is accurate, you will have no problem getting as much currency as you like.
So what does that mean? Well, every Forex broker has a maximum size order for which you are guaranteed your fill. This is important to understand for a very simple reason.
If the fund manager is only guaranteed his fill for $1,000,000, why wouldn't he want to capture maximum profit on his entire alloted amount.
In fairness, I would understand if he didn't have the capital to invest, but then I wouldn't trust the claims of his previous successes.
With a consistently
successful trading strategy, and a conservative compounding strategy; you could turn a $5,000 account into a $1,000,000 account in just over 1 year. Let me explain before you all go running to open a Forex Trading Account and lose all your money.
By investing 10% of your account on a daily basis, and averaging 20 pips/day in profit your account would increase by 2% on a daily basis. For those of you familiar with compounding, you understand how this can lead to such a major growth in your account.
So, here is another obvious question. If the fund has been averaging such astounding results over the past year, why can't they invest enough money to reach their limit? And, if they can, why aren't they?
Here is the answer to all of the questions. If they were that good, you would never know about them. It's just that simple. The greatest traders are growing their accounts and reaching their limit day after day.
I promise you this - they are not using anyone else's trading strategy, they are using their own. That's right, to become a truly great Forex trader, you have to learn what works best for you, not someone else.
The most efficient way to reach the pinnacle of your trading skills is through an elite Forex trading course.
Are you still thinking about letting someone else handle your trading for you?
Here is one more reason for skepticism. Many spreads charge you a per trade transaction. This is an absolute no no. In this arrangement, they are guaranteed to make money on every trade. You, on the other hand are not. Avoid dealings with anyone who will make money on your losses.
Take your future in your own hands. Learn to trade the Forex markets on your own.
Eddie is the Head Instructor at Foreign Exchange University. He has developed an Elite Forex Trading Course. Learn about the “Trading In Black And White Forex Trading Course”.
Written By: Eddie Yakubovich
 Globe and Mail | WORLD FOREX: Dollar Up As Greece, India Rate Hike Roil Markets Wall Street Journal TORONTO (Dow Jones)--Investors shunned risk-sensitive currencies and bid the dollar higher Friday after Greece's ... FOREX-Euro falls vs dollar as Greek worries linger Forex - Dollar mixed vs. rivals as US jobs data eyed WORLD FOREX: Dollar Soars As Greece, India Hike Rattle Markets |
 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 |
 istockAnalyst.com (press release) | Forex - Dollar mixed against rivals after US PPI data Forex Pros Forex Pros – The US dollar was mixed against other major currencies on Wednesday, following the release of disappointing data on producer prices in the ... Forex: Dollar falls further against European currencies FOREX: US Dollar starts week strong. EUR/USD falls below 1.3700 Forex: Dollar falls across the board as FED leaves rates unchanged |
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. ... |
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. ... |
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 |
 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: Swiss Franc rallies across the board, SNB awaited |
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 ... |
 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 |
WORLD FOREX: Euro Up Vs Yen, Dollar On Hedge Buying; May Resume Fall MarketWatch TOKYO (MarketWatch) -- The euro rose against the yen and dollar in Asia Friday as Japanese short-term investors who have recently bet ... The demand for the high-risk currencies increased again. The oil rate ... |
