A Surprise Move from the Fed

In a surprise move, the FOMC this evening refrained from scaling down its asset purchases. The market reaction was significant with the 10-year treasury yield dropping 15bp on the announcement and the 2-year yield 6bp, while equities rallied and the S&P500 rose 1.3%.

The overarching reason that the Fed opted to do nothing at the meeting is the recent tightening in financial conditions and, in particular, the increase in mortgage rates. Bernanke stated that the FOMC wants to be sure that the impact on especially the housing market does not bring economic growth out of sync with the Fed’s projections. Another factor mentioned is fiscal policy and the risks associated with the upcoming debate on both the debt ceiling and the 2015 budget. We have two meetings left this year in October and December. One month more of data is likely not enough to judge whether the tightening in financial conditions is derailing the recovery. It is also uncertain whether the fiscal situation will be much clearer end October. This favours waiting until the December meeting to taper.

Other factors supported the dovish feel. In particular, the new year-end 2016 forecasts showed both unemployment and inflation back close to their longer-term neutral levels, but the median projection of the Fed funds rate at only 2% up from 1% year-end 2015. This is basically in line with the market pricing ahead of the meeting and even slightly below. A neutral Fed funds rate is seen around 4% and the projections suggest that the average FOMC member is in line with vice chairmwoman Yellen’s statement, that the Fed funds rate should be kept much lower than what a Taylor rule would suggest. At the press conference, Bernanke explained that because of continued headwinds (slow housing market, continued fiscal drag, lagged effects from the financial crisis) he expected the Fed funds rate to remain below 4% for two-three years after 2016.

It is also worth noting that the QE plan Bernanke laid forward at the press conference following the June FOMC meeting was not reaffirmed. He did not mention the 7% unemployment rate threshold for ending QE, neither did he talk about mid-2014 as a likely end point. Rather, he used the more vague formulation "first step on tapering is possible later this year".

In sum, the FOMC is considering when to moderate its purchases and the decision remains data dependent - as the statement put it, "there is no preset course for asset purchases". In our view, however, the December FOMC meeting is the most likely candidate for a start to tapering.

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Dovish Yellen Defended Easing As Economic And Employment Growth Remain Far Short Of Potential?

Vice chairman Janet Yellen's testimony before the Senate contained few surprises. Yet, it did not prevent equities to rise, and US dollar and yields to fall, as the upcoming Fed chairman reiterated her dovish stance and defended the central bank's accommodative monetary easing measures. Yellen indicated that the best way to normalize monetary policy is to normalize the economy, noting that 'a strong recovery will ultimately enable the Fed to reduce its monetary accommodation and reliance on unconventional policy tools such as asset purchases' and 'Supporting the recovery today is the surest path to returning to a more normal approach to monetary policy'. In short, economic developments remain the key determinant of the tapering schedule on which Yellen refrained from giving any hints.

Senators criticized the negative impacts of low rates on deposits and risks to financial stability. While admitting that low interests rates hurt savers, Yellen noted that slack demand would have resulted in low yields even if the Fed had not implemented monetary policies and/or QE. Instead, the Fed's easing has supported the job and housing markets. Concerning risks on financial stability, Yellen defended that she has not see signs of systemic bubbles despite the large size of the balance sheet. Yet, she affirmed that the Fed has been monitoring the risks. In contrast with the case of Bernanke, senators did not questioned about the inflationary risks. After all, Yellen stayed consistent with the Fed's mandate to keeping the Fed's long-run inflation target at 2%. She also stated that she and her colleagues have been striving to maintain price stability.

Another mandate of the Fed is on employment. Yellen appeared to be skeptical of the representativeness of the employment figure (e.g. the unemployment rate) on the actual job market conditions. Indeed, in previous occasions, Bernanke noted that the drop in labor force participation has partly led to the apparent decline in the unemployment rate, and this likely has overstated actual improvement in labor markets. The Fed might find it difficult to rely on the reported statistics in assessing the real employment conditions. Yellen also cited similar reasons to warn that the job market is probably not as healthy as suggested by the job market data. These comments might trigger to speculations of the recent hot topic that the Fed might lower the unemployment threshold. Unfortunately, we failed to get any hint from Yellen. While her comments appeared to support a lowering of unemployment rate threshold as part of the FOMC's communication on interest rate policy, Yellen at the same time noted that there may be resistance should the Fed move the threshold to 6% or below.

As an existing core Fed member, it's expected the Yellen's comments were mainly supportive of the Fed's monetary policies. She explicit stated that she believed the benefits of asset purchases and lower rate for longer guidance exceeded the costs both in terms of financial stability and inflation risks.

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INTRODUCTION TO THE FOREX MARKET

Many of us have been fascinated by the shiny, colorful world of currencies as children, and even those of us who have little interest in the forex market have engaged in some form of currency trading while traveling outside their homeland. And these days, one will easily find people discussing the advantages and weaknesses of the US dollar even in a casual gathering.

 The forex market is the currency market: it’s where the value of each currency is determined versus every other currency in the world. If you exchange one US dollar for its equivalent value in Euros, you’re already a part of the forex market, and are creating the quotes you see reported on TV screens every day. There’s no difference between the actions of a tourist at an exchange bureau, and the transactions of banks in the international market, apart from size and maturity

 terms.


In today’s integrated and specialized economies it’s rare to find all the components of any product produced inside one country’s borders, and so, international trade is a major creator of global forex volume. Deepening financial interactions across the globe through partnerships, buyouts of firms and international loans, along with ever complex tools of investment have been increasing the size of the forex market in recent years.

If global trade and finance were the body of world economy, the forex market would be the circulatory system; in other words, there doesn’t exist a deeper, more liquid market than that of currency trading. Almost every political or economical event of long-term significance is reflected in its workings, and understanding it results in a very good comprehension of finance and economics in general. Participating in such a vast and significant mechanism can be a rewarding and exciting experience for the individual investor. But while this is true, success during your interactions with the giants will require more than a bit of diligence and patient study.

The rewards can be immense: famous investors such as George Soros, Jim Rogers, large Wall Street firms such as Goldman Sachs, or banks like Citibank all make millions of dollars each year from trading in the forex market. In fact George Soros is notorious as being the man who broke the Bank of England: Through successful speculations, he was able to make 1 billion dollars in just about a week.

 

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INSURANCE

Do you understand about insurance..read here to know all. Insurance is a system for lowering the loss of financial distribute risk of loss of a person or body to the other .. Insurance Act No.2 of 1992 Th perasuransian is a business agreement between two or more parties, with which the insurer tie themselves to the Insured with insurance premiums, to provide reimbursement to the Insured for any loss, damage or loss of profits or the expected legal responsibility to third parties that may be suffered Insured, arising out of an event that is not certain, or provide a payment based on life or death that someone be. Agency that provides risk-called "Insured", and accept the risk that the body called the "insurer". Agreement between the two bodies is called the policy: this is a legal contract that explains the terms and conditions protected. Costs paid by "tetanggung" to the "guarantor" for the risk borne by the "premium". This is usually determined by the "guarantor" for the funds that can be claimed in the future, administrative costs, and benefits. For example, a couple buying a house worth Rp. 100 million. Knowing that they will lose their homes to bring them to financial ruin, they take the insurance policy in the form of home ownership. The policy will pay for replacement or repair their homes when the disaster occurred. Insurance companies on their premiums as much as Rp1 million per year. The risk of losing the house has been distributed to the owner's home insurance companies..thank you for visit.

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What is a Forex deal?

The investor's goal in Forex trading is to profit from foreign currency

movements.

More than 95% of all Forex trading performed today is for speculative purposes

(e.g. to profit from currency movements). The rest belongs to hedging

(managing business exposures to various currencies) and other activities.

Forex trades (trading onboard internet platforms) are

non-delivery

trades:

currencies are not physically traded, but rather there are currency contracts

which are agreed upon and performed. Both parties to such contracts (the

trader and the trading platform) undertake to fulfill their obligations: one

side undertakes to sell the amount specified, and the other undertakes to buy

it. 

As mentioned, over 95% of the market activity is for speculative purposes,

so there is no intention on either side to actually perform the contract (the

physical delivery of the currencies). Thus, the contract ends by offsetting it

against an opposite position, resulting in the profit and loss of the parties

involved.

Components of a Forex deal

A Forex deal is a contract agreed upon between the trader and the market-

maker (i.e. the Trading Platform). The contract is comprised of the following

components:

The currency pairs (which currency to buy; which currency to sell)

The principal amount (or "face", or "nominal": the amount of currency

involved in the deal)

The rate (the agreed exchange rate between the two currencies).

Time frame is also a factor in some deals, but this chapter focuses on Day-

Trading (similar to “Spot” or “Current Time” trading), in which deals have a

lifespan of no more than a single full day.  Thus, time frame does not play

into the equation.  Note, however, that deals can be renewed (“rolled-over”)

to the next day for a limited period of time.

The Forex deal, in this context, is therefore an obligation to buy and sell a

specified amount of a particular pair of currencies at a pre-determined

exchange rate.

Forex trading is always done in currency pairs. For example, imagine that the

exchange rate of EUR/USD (euros to US dollars) on a certain day is 1.5000

(this number is also referred to as a “spot rate”, or just “rate”, for short). If

an investor had bought 1,000 euros on that date, he would have paid 1,500.00

US dollars. If one year later, the Forex rate was 1.5100, the value of the euro

has increased in relation to the US dollar. The investor could now sell the

1,03300 euros in order to receive 1,510.00 US dollars. The investor would then

have USD 10.00 more than when he started a year earlier.

However, to know if the investor made a good investment, one needs to compare

this investment option to alternative investments. At the very minimum, the return

on investment (ROI) should be compared to the return on a “risk-free” investment.

Long-term US government bonds are considered to be a risk-free investment since

there is virtually no chance of default - i.e. the US government is not likely to go

bankrupt, or be unable or unwilling to pay its debts.

Trade only when you expect the currency you are buying to increase in value

relative to the currency you are selling. If the currency you are buying does

increase in value, you must sell back that currency in order to lock in the

profit. An open trade (also called an “open position”) is one in which a trader

has bought or sold a particular currency pair, and has not yet sold or bought

back the equivalent amount to complete the deal.

It is estimated that around 95% of the FX market is speculative. In other

words, the person or institution that bought or sold the currency has no plan

to actually take delivery of the currency in the end; rather, they were solely

speculating on the movement of that particular currency. 

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Are you dealing with whom?

It’s important to deal with a reputable firm.

These days it’s easy for a company to give the appearance that they are legitimate. For example,

it’s not difficult to build a flashy website, buy a UK domain name (ending in .co.uk) or redirect a

local phone number to an untraceable offshore location.

But a serious company will be authorised and regulated by their local financial authority. In the

UK, that’s the Financial Services Authority (FSA).

Every regulated firm will be granted a licence number. This licence number can be entered into

the FSA Register, which is available for free online. It allows you to cross-check that a firm are

who they claim to be.

To become authorised in the first place, a firm must have an approved product and sufficient

capital. Also background checks are run on the people and their qualifications – which is a key

control.

Once regulated, a firm needs to submit regular information to the FSA and comply with a wide

range of rules covering their dealings with customers, information systems, promotional material

and financial position.

Frauds and scams won’t want to go down the regulated path for obvious reasons.

Over the last few years there’s been an explosion in the number of automated trading systems –

known as ‘forex robots’.

You know the ones - you download the software onto your computer and after a few blinks and

flashes it spits out a trade signal. Most are useless, many are scams.

Don’t get me wrong – the companies that promote these products are masters of seduction. The

marketing message is powerful and cleverly appeals to the masses.

But if you know what to look out for, you can spot them a mile off.

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Best 6 Forex FUNDAMENTAL ANALYSIS:part - 2

The economic group of the factors influencing the market can be divided into the following components:

information about the economic development of the country;

trade negotiations;

meetings of the central banks;

any changes in the monetary and credit policy;

meetings of G-7, economic unions or commercial alliances;

speeches of the heads of central banks, heads of governments, distinguished economists concerning the situation of the foreign exchange market, changes in the economic policy, economic situation in the country or their forecasts;

interventions;

neighbouring markets;

speculation.

Fundamental analysis is one of the most complicated parts, and, at the same time, one of the key types of work on the foreign exchange market. It is much more difficult to make fundamental analysis than any other analysis, as the same factors influence the market differently in various conditions or, being decisive, may become utterly insignificant. It is necessary to know the interrelation and mutual influence of two different currencies that reflect the ties between various states, the history of development of currencies, to determine the cumulative result of some economic measures and to establish connection between events that may originally seem to have no connection at all. In addition to some basic and very formal rules, it is required to have considerable work experience at the foreign exchange market.

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Bad Credit Harmful For Forex

Payday loans are intended for individuals who have poor credit record. Why? Because bad credit loan direct lenders charge high interest rates and fees on these loans, taking advantage of the fact that bad credit holders are unlikely to receive short-term loans from anywhere else. If you happen to have bad credit and are willing to pay $35 on every $100 you borrow, these loans are just for you. It’s too bad that despite of usury laws the United States allows predatory lending that can get borrowers into a debt circle that they can never get out of. Bad credit loans online are probably the worst, because they are easily obtained nights and days from the comfort of the borrower’s home. This site is a good example. It is open 24/7 including weekends, allowing borrowers to apply for a loan with three clicks of the mouse. Physical presence at the lender’s office can actually give the borrowers some idea what to do to improve the credit rating or the lender may suggests other options available (remortgage the house, debt consolidation, collateral or something else). Online loans or cash advances provide only a form and no physical contact or talk with the potential borrower.

Is bad credit OK?

You bet! As a matter of fact bad credit direct lenders would be shocked to find out that your credit is good. They count on your bad credit history (except Teletrack), because your window of opportunity to borrow money is very narrow. They don’t have to check credit, because it doesn’t matter as long as you have sufficient income that can generate their profits. With bad credit loans, online approval is a quick process.

BadCreditLoansOnline24 offers a form that is an invitation to apply for a loan, but in fact we strongly suggest and advise you to revise it and seek other options. In order to qualify for a loan you must have a regular income (employment, disability, pension, etc.). There are certain rule for military personnel.

The Interest Rates

If you are not aware of it, then now is the best time for you to learn that the interest that you will be charged for a quick payday loan is much higher when compared to other types of financial products that are currently available. It could run from 300% to 600% when calculated on an annual basis. The vast range is dependent on freedom online lenders have to charge any amount that they want in most parts of the country. There is very little regulation when it comes to a payday loan online.

The Kind of Lenders

When your mind is really set on borrowing in this way, then you should seek a direct lender. There are brokers out there and if you happen to deal with them then you will increase the amount that you would have to pay unnecessarily. That is because they would be charging for the services and you would shoulder their fees for sure.

Easy Application and Processing

The biggest reason why so many people are attracted to payday loans is because how easy it is to apply. Here are some of the reasons why it is so easy to apply for an online payday loan.

Your credit history may not be checked.

You do not have to fax anything.

You will not have to write checks as security for the loan or authorize a lender to withdraw the amount owed from your bank account.

You do not have to go to the lender’s office because the application is handled online.

These are the things that you have to consider when you want to apply for a quick personal loan. Just remember that the process can be easy but the consequences might cause some serious problems in the long run. Those consequences should be considered first. Payday loans and especially payday loans online are a bad idea that can get you in trouble. You have to get busy and find a reputable lender such as a bank or credit union that can lend you the money you need in exchange for collateral. This would give you a lower interest rate and longer term of the loan. In addition, this can actually improve your credit rating in the future, unlike payday loans.

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Forex Charts and diagrams

Forex charts are based on market action involving price. Charts are major

tools in Forex trading. There are many kinds of charts, each of which helps to

visually analyze market conditions, assess and create forecasts, and identify

behavior patterns.

Most charts present the behavior of currency exchange rates over time. Rates

(prices) are measured on the vertical axis and tim e is shown of the horizontal

axis.

Charts are used by both technical and fundamental analysts. The technical

analyst analyzes the “micro” movements, trying to match the actual

occurrence with known patterns.  The fundamental analyst tries to find

correlation between the trend seen on the chart and “macro” events

occurring parallel to that (political and others).

What is an appropriate time scale to use on a chart?

It depends on the trader’s strategy. The short-range investor would probably

select a day chart (units of hours, minutes), where the medium and long-

range investor would use the weekly or monthly charts. High resolution charts

(e.g. – minutes and seconds) may show “noise”, meaning that with fine details

in view, it is sometimes harder to see the overall trend.

The major types of charts:

•

Line chart

The simplest

form, based upon

the closing rates

(in each time

unit), forming a

homogeneous

line. (Such chart,

on the 5-minutes

scale, will show a

line connecting all

the actual rates

every 5 minutes).

This chart does not show what happened during the time unit selected

by the viewer, only closing rates for such time intervals. The line chart

is a simple tool for setting support and resistance levels.

•

Point and figure charts - charts based on price without time. Unlike

most other investment charts, point and figure charts do not present a

linear representation of time. Instead, they show trends in price.

Increases are represented by a rising stack of Xs, and decreases are

represented by a declining stack of Os. This type of chart is used to

filter out non-significant price movements, and enables the trader to

easily determine critical support and resistance levels. Traders will

place orders when the price moves beyond identified support /

resistance levels.

•

Bar chart

This chart shows three

rates for each time

unit selected: the high,

the low, the closing

(HLC). There are also

bar charts including

four rates (OHLC,

which includes the

Opening rate for the

time interval). This

chart provides clearly

visible information

about trading prices

range during the time

period (per unit)

selected. 

•

Candlestick chart

This kind of chart is based on an ancient Japanese method. The chart

represents prices at their opening, high, low and closing rates, in a

form of candles, for each time unit selected.

The empty (transparent) candles show increase, while the dark (full)

ones show decrease.

The length of the body shows the range between opening and closing,

while the whole candle (including top and bottom wicks) show the

whole range of trading prices for the selected time unit.

Following is a candlestick chart (USD/JPY) with some explanations: 

Pattern recognition in Candlestick charts

Pattern recognition is a field within the area of “machine learning”.

Alternatively, it can be defined as “the act of taking in raw data and taking an

action based on the category of the data”. As such, it is a collection of

methods for “supervised learning”.

A complete pattern recognition system consists of a sensor that gathers the

observations to be classified or described; a feature extraction mechanism

that computes numeric or symbolic information from the observations; and a

classification or description scheme that does the actual job of classifying or

describing observations, relying on the extracted features.

In general, the market uses the following patterns in candlestick charts:

Bullish patterns

: hammer, inverted hammer, engulfing, harami, harami

•

cross, doji star, piercing line, morning star, morning doji star.

Bearish patterns

: shooting star , hanging man, engulfing, harami,

•

harami cross, doji star, dark cloud cover, evening star, evening doji

star.

Chart system available at

Easy-Forex™

Trading Platform

The Easy-Forex™ Trading Platform offers the following charting tools, for both

professional and beginner traders.

The chart types:

The time scales:

The view types:

The "drawing line on the chart" types:

The Study types:

Please note: the above screen-shots were taken around mid-2006. The Easy-Forex™

platform continuously upgrades its system, while adding new features on a regular

basis.

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Part IV. Forex Scam - Emergency Call.

 Good morning, sir. You know, recently I’ve re-read the previous part and caught the thought that I know nothing about regulators and what to do if something bad ever happens.

 Right, let’s shed some lights on this question.

CFTC is the Commodity Futures Trading Commission. It was founded in 1974 started its functioning in 1975 and its major task was to protect and to serve individuals in trading on futures and commodities markets. While almost at the same time currency futures were initiated, CFTC has become responsible for them as well. By the way, we already have discussed the CFTC when talked about the COT report, remember? The CFTC is responsible for that, since traders provide reports to CFTC.

Since its foundation, the CFTC changed many times and developed as any other government authority. According to “West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. (All rights reserved)”:

The CFTC consists of five commissioners who are appointed by the president with the advice and consent of the Senate. The commissioners serve staggered five-year terms and by law no more than three commissioners can belong to the same political party. One commissioner is designated by the president to serve as chairperson. The chair's staff includes the Office of the Inspector General and the Office of International Affairs.

To comply with the requirements of the Modernization Act, the commission underwent a restructuring in 2002. As a result, it consists of six major operating units: the Division of Clearing and Intermediary Oversight, the Division of Market Oversight, the Division of Enforcement, the Office of the Chief Economist, the Office of the General Counsel, and the Office of the Executive Director.

The CFTC regulates trading on the 11 U.S. futures exchanges, which offer numerous kinds of futures contracts. It also regulates the activities of some three thousand commodity exchange members, 360 public brokerage houses (futures commission merchants), about 38,000 commission-registered futures industry salespeople and associated persons, and 2,500 commodity trading advisers and commodity pool operators. Some off-exchange transactions involving instruments similar in nature to futures contracts also fall under CFTC jurisdiction.

The CFTC maintains large regional offices in Chicago and New York, cities in which eight of the nation's 11 futures exchanges are located. Smaller regional offices are located in Kansas City and San Francisco, and there is a sub-office of the Chicago regional office in Minneapolis.

 Wow. That sounds impressive. I can imagine what could happen if there was no CFTC. How we could stand against frauds and scam? There would be too much.

 In general you’re right, absence of regulators such as the CFTC could give scammers wide space to act and there could be many more frauds in this case. In fact to take investors money will be simpler than taking candy from a baby.

So, the major mission of the CFTC is to protect market participants from different kind of frauds, illegal manipulations on the market, mostly on commodities, futures and options markets. Although the forex market is over-the-counter, the CFTC is very useful here as well, since it could give you information about reliable or non-reliable brokers. The CFTC has its own website: U.S. Commodity Futures Trading Commission

If want to file a report on some suspicious broker, manipulation or authority, you may contact CFTC from here:

File Complaint or Report Suspicious Activities - CFTC

NFA - National Futures Association

 Pips: But that is not all yet. As we’ve said in 1974 Congress established the CFTC. Under the Commodity Exchange Act, Congress gave it jurisdiction over commodity and futures trading, and allowed the futures industry to create a national self-regulatory organization, which in 1982 would create the National Futures Association (NFA). In 1998 the NFA created online access to the Background Affiliation Status Information Center (BASIC). BASIC, provides current and historical registration information, disciplinary actions of all current and former NFA registrants.

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How many currency for investment?

Seandaainya we have money Rp. 10.000.000, - could we make to invest . Maybe some of us think we buy motorcycles wrote subsequently made ​​for motorcycles. But Myspace dlu name klo motors are often used to remember that the treatment cost we spend every month For the motor maintenance. Klo if we want to buy a plot of land may ngak enough. The second possible For sale we make food like snack market, it could be, but we're a start up business if the market was already formed. Want to open a restaurant NTAR first may ngak enough to  Rp. 10.000.000, -   have not we lease space, purchase cookware, chairs, tables and added power For businesses. Want to make selling bottled tea or whether kelontongan enough to  Rp. 10.000.000, -  . Selling clothing might just be how ngak enough pieces, not to mention the cost of transportation for shopping and marketing.

Here I've got interesting tips if we have the money  Rp. 10.000.000, -   this business is not MLM and its success depends on the hard work of our own. Want dilaksanain monggo not also not apa2 wrote just for added insight. How klo money  Rp. 10.000.000, -   that we buy LM ( precious metals ) because the price of the yellow is now longer trend. Suppose the price of the precious metal per gram of its 490,000 we can buy as much as 20 grams of LM . Furthermore, after we bought the LM is kept should we do if we keep it in a safe deposit box we like cupboard or under the mattress. Hmmm, .... Welll, Welll ....,

After we bought the precious metal as soon we find pawnshops, we can pawn it in the nearest pawn shop. Can continue its kira2 how yach klo we mortgaged the 20 grams. Suppose the price of gold pawn shops accept LM us his 450,000 per gram then we obtain as much money from the pawn shops 9.000.000, - with a 1.5% interest per month means that we are obliged to pay interest on our money as much as 135,000, - per month. So money from pawnshops where would we make, well this good question. Further money from pawnshops For earlier we use to transact gold futures contract. We can choose a reliable broker that is on the internet. Many online forex trading today on the internet that there is a Futures session length . Easy to register via the registration menu on the next fill in the data correctly.

Ok lanjutt. After all the account creation process is complete and the investment we've also entered in online forex trading account his next contract we could buy gold there. Ngak banyak2 have to buy the one with the little amount. We attempted dlu micro account trading in accordance with the capabilities of our capital. Suppose we can buy or wait for a good price at $ 1,650.00. We've often heard it reviews local economic experts and the world that the price of gold range can penetrate up to $ 2,000.00. Furthermore what our work. Once we are to buy gold contract at $ 1650.00 we are just waiting for the time wrote diharga the klo we ngak strung out to wait in order to price that much we can also liquid our transaction example in $ 1,700.00, after that we are waiting for a correction in gold prices again and buy again, that is so . Kira2 hard ngak yach. Depending pribados masing2. Remember Rome was not built 1 day. Good luck hopefully useful.

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Trading is a journey – not a destination

You have to like it and enjoy by the process itself. Although your performance will be measured by profit as in any other business. Still, if you will not like the process, you will never succeed. Without the first you will never reach second.

Here with our Forex Military School we’ve given you some nice tools and many advanced comments that hardly could be found for free somewhere else. But these are just tools and their application and effectiveness will depend on you. Every third person in the world is playing on guitar, but not every third is J. Hendrix. Many people play football, soccer to you Americans, but only a few can compare to those like D. Maradona, Pele and L. Messi.

Applying these thoughts to trading, you have to understand that it is not some indicator, not a black box trading system and not the advise of your neighbor-trader that hit your account. YOU do it! That is your skills, discipline, diligence, your trading system, ability to analyze the market, execute your trading plan and risk management rules that make this work.

Another important thing is your determination to study, apply what you’ve learned and track performance of this application. In the beginning you primary target is to be focused on the trading process, learning process and survival – not the profit.

Making an everyday analogy – would you go into guitar players’ competition by learning only “happy birthday to you” song on single string? I strongly doubt it. Probably you will pass through technique, scales arpeggios, etudes and other education stuff before turning to play “Flight of the Bumblebee” on 250 tempo. Here is the same – learn to understand markets, improve your trading technique, find a proper trading system, good risk management and learn to combine all of these issues on Demo first.

You major success here will be the trading system that gives you acceptable win/lose ratio, i.e. when your winning trades will be outperform losing ones.

There is no Holy Grail

I strongly recommend you to read Jack Schwager book “Market Wizards” and “New Market Wizards” sometime. Although each famous trader has its own way with markets and spin about his or her journey differently from each other – all of them have something common that become hallmarks of market success:

- There is no way to predict the future. Nobody can do this. That why we’ve discussed an emergency plan and that it has to exist. All that you can do is to be prepared for a possible crash of markets;

- Nobody can predict markets with certainty 100% of the time. Probably you often notice that market after some awaited press release, news or some data acts differently than expected – in contradiction with logical behavior. And you can’t find an explanation to that. Maybe some big hedge fund was locked in the wrong position, maybe banks have expected different numbers, maybe the market already has included this data in prices and so on. There are million of reasons could be for a not logical price move. The point is simple. If trading was as simple as interpretation of data – was it positive or negative, than all traders would be billionaires already. There is always uncertainty that exists, and you never know where it could come from. There are millions of traders in the world and every one of them has his or her own orders, positions, view and treating of particular news or data. What is the conclusion? You will be many times on the wrong side of the market. This is normal for such a kind of business as trading. But…

- Probability is what is really important. This leads us to follow the conclusion that trading is a probability business. You maybe on wrong side, but probability should be always on your side. If this is not the case then your business is in the bad way. If you’re brinksman – it will be hard for you to deal with trading.

Take a note that we’ve discussed all these issues in the School in much detail.

It will not superfluous to remind you about patience and discipline

Patience is one of the cornerstones of trading. You need time and patience to develop a trading system, to check it, to get experience, to enter and exit from trades and so on.

Discipline is another keystone. In fact it means that sometimes you have to do some things that you do not want to do, or are lazy to do it. Follow to keep trading journal, follow to preparation procedure for every trade and daily routine, and follow to trading plan – just to name some of them. But for newbie traders very often it happens so, that a corner stone turns to stone of stumbling.

You will see that to pass through some education course, book or e-school is much simpler, but applying them strictly with patience and discipline – that is a really tough task to do. That’s why not every person who has read the book becomes successful trader.

Lack of discipline, patience and diligence leads to major destruction forces as impulse, gambling and gut-feeling trades, early profit taking, drag out loss taking and revenge sentiments. They do not encourage of survival of newbie traders.

Here we have to recall the first statement about the journey. It will help you to stay on the way with discipline and patience. Trading is not “become rich tomorrow and give it up” – this is a gradual process. If you will move step by step diligently after some time you will see the progress and this will get you inspiration and encourage you to further success.

Also keep in mind that the market will always be here tomorrow – don’t forget about getting enough rest. Second, that is more important – do not hasten to trade any possibility that you can. Keep only with your best ideas. If you do not have the necessary setup today – wait for tomorrow. The market is forming excellent setups and opportunities almost every day, so why we have to take worst of them?

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Forex Training for success: Part-3

Seminars and courses

Try to attend professional Forex seminars. Some seminars are offered free,

often as part of a client recruitment process by a given platform; many are,

nevertheless, worth attending. Educational courses are offered online and by

many post-secondary institutions.

Forex books

Read, or even just browse. Many books are offered free, or as part of a

service package to the trader. For many, historical background and technical

analysis are topics better covered in books than in an educational setting.

Internet forums / blogs

Visit and participate in Forex forums. This gives you an opportunity to learn

from the experience of others.  Of course, remember that some forum

participants may be biased, promoting a given Forex platform or their own

agenda.

No commissions? How about profit withdrawal fees?

(No hidden costs at Http://onlineforex24.blogspot.com/. Join and trade without banking costs or other

indirect costs. Read more:

So much to consider…

To succeed as a Forex trader, you must take into consideration a wide variety

of factors such as:

spread .

commissions and fees;

ease of access to the trading platform;

minimum amounts needed for trading;

additional amounts needed (if any);

control over activity and positions;

the platform software requirements;

ease of deposits and withdrawals;

personal service and support provided by the platform;

the platform’s business partners;

the platform’s management, offices and outreach;

the products offered onboard the platform; and many others.

Online training, no downloads

Http://onlineforex24.blogspot.com/

is dedicated to educating its customers. Customers can access

FREE

one-on-one

online training. The training goal is to teach people specific

to teach people specific

strategies for trading currencies over the internet. Both novice investors and

strategies for trading currencies over the internet. Both novice investors and

expert day traders have benefited from the training provided by

expert day traders have benefited from the training provided by

Http://onlineforex24.blogspot.com/

Http://onlineforex24.blogspot.com/

The “demo” account idea

The “demo” account idea

Many Forex platforms offer new registrants a “demo” account. A typical

Many Forex platforms offer new registrants a “demo” account. A typical

example would provide 10,000 “demo” dollars that can be “traded” as a

example would provide 10,000 “demo” dollars that can be “traded” as a

means of learning how to succeed in Forex.

means of learning how to succeed in Forex.

Http://onlineforex24.blogspot.com/

Http://onlineforex24.blogspot.com/

does not offer “demo” accounts.  Coming to understand that

does not offer “demo” accounts.  Coming to understand that

reason must rule over emotion is the most important lesson a trader can

reason must rule over emotion is the most important lesson a trader can

learn, and it cannot be done with play money. If there is no consequence to

learn, and it cannot be done with play money. If there is no consequence to

indulging in emotional responses to the market, there is no learning, so

indulging in emotional responses to the market, there is no learning, so

“demo” accounts tend to have little educational value.  Rather, Http://onlineforex24.blogspot.com/

“demo” accounts tend to have little educational value.  Rather, Http://onlineforex24.blogspot.com/

allows you to start trading with just $100, including full access to one-on-one

allows you to start trading with just $100, including full access to one-on-one

training.  New registrants are thus able to garner both an educational and

training.  New registrants are thus able to garner both an educational and

experiential benefit unavailable through simulated situations.

experiential benefit unavailable through simulated situations.

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