A Little Break - Developing Forex Courses - Giving Back to Charity - Please Help

Hey Everyone,

I wanted to apologize for not havening anything up for a while. You all are really excited about the upcoming forex course that I am putting together and well. It's a lot more worth than I thought it would be.

One reason it's a lot of work is because this isn't going to be some rinky dink little ebook, but video training. Because I feel that you have to have this kind of quality in order to do well in the forex.

On another note!!! Giving back is at the heart of Mission Phoenix values. It is required of people such as myself to give back. I started giving back when I had nothing. I just started with $1. I STRONGLY feel that it started changing my life. Along with a couple of other things that I also include in my training, the giving back and a change in outlook really changed my life.

Mission is not about just talking about giving back, Mission is also about doing and volunteering time.

With that said...

Mission Phoenix is participating in a 2-Day Cycling tour with the MS150. This is a organization racing to find a cure for Multiple Sclerosis. Mission will be in a group of 13,000 cyclists, cycling from Houston Texas, to Austin Texas, for an excess of 150 miles.

Please help Mission Phoenix raise money for this great Charity. Hundreds of people view this blog, so I encourage you to donate even $1, or $2, or $5. This is what I talk about when I say that as a community, as a collective fellowship. We can make a difference in the world.

To go straight to the MS150 donation website to donate click here....
MS150 Website Donate Link

To go to Mission's Website on Multiple Sclerosis where there is also a link to Donate go here.....
Mission Phoenix's Multiple Sclerosis Page - Learn More & Donate

Please help us fight this disease. The Donation is also Tax deductible for those of you living in the US.

Live Abundantly & Then Share That Abundance,
Mission

FXCM Announcement | Introducing Metatrader

I just stumbled on this and I find this VERY interesting.

This could be enough for me to move some funds back to FXCM to give it a try.

I do like FXCM as a broker, my biggest beef with them wast that they did not have a trading platform that I agreed with.

Metatrader is not the best either, but I do believe it is the best free platform there is. Most traders use Metatrader, and because of that I do all of my analysis and teaching using metatratder. I will also be doing some tutorials in the free learning platform section of my site as well as advanced tutorials of how you use metatrader in the paid subscribtion area of my site.

The best means of trading the forex is by an independent data feed that is paid for from a high quality source. This is essential when trading with hundreds of thousands of dollars. For most people the Metatrade and the free platforms are just fine.

Here is the announcement:

MetaTrader
Trading Software

FXCM plans to introduce the MetaTrader online trading platform in the beginning of 2008. Because many traders have expressed an interest in this trading platform, we would like to keep them informed of our progress. Please complete the form below if you would like us to send you information about the upcoming release of MetaTrader.

Like I said very interesting.

more videos to come very soon,

-Mission
Live abundantly and then share that abundance.

Forex Training | Forex Trading

FX Trading Videos | 422 PIPS PROFIT | Trading Is Not Always Roses

FX VIDEOS 422 PIPS PROFIT TRADING IS NOT ALWAYS ROSES

Forex Training Forex Trading

In this Forex Trading blog post where I show another Free Forex Video we look at some live trades showing you some real proof that with the right education and the right method anyone can master the Fore Market. We will show that MISSION PHOENIX has got 422 pips of profit, and this method is so easy anyone can do it. However it is critical that one must know how the markets behave to ensure protection.

I can not stress enough that a trader needs forex education in order to succeed in currency trading. Why is it is so critical? We will see in these next videos MISSION talking about closing trades that are very successful trades all because of a specific candle formation or because of specific things that are happening in the currency pair, and on the charts.
─ How does MISSION PHOENIX know these things?
─ How does MISSION PHOENIX know that the current price movements are over?
─ How does MISSION PHOENIX know to either close the trade all together or should to move stop losses to lock in profits?

MISSION PHOENIX knows these things because:
─ Of extensive knowledge of how the markets behave,

• I don’t have a crystal ball
• I have just learned how to listen to the foreign language of financial charts, It is a great symphony that once you learn how to really “hear” the music you can really enjoy living to it.

─ Only using those things that work

• I found the secret to forex trading. What it all boils down to is that all people make trading too hard.
• This is EXCELLENT because anyone can now learn how to trade currencies in the 4x markets in a very short time
• Only 5% of all traders know this secret, and they aren’t telling. I’m actually going to make a lot of people mad by sharing this.
  o I’m going to make even more people mad because the brokers out there and everyone else don’t want you to master the market because they want to keep taking your money.

─ having years of trading experience.

• Now I know you may not have years of trading experience and that you want to get up to speed and start trading like a pro as soon as tomorrow.
• Anyone may tell you that this is impossible - Well YOU CAN!
• How you are going to do that is by finding a mentor and a teacher that can teach you all of the things that they know and not hold anything back (or at least hold back only those things that do not work).
• What this does is takes off the years of learning the markets (the way I had to do it), and supercharges your learning curve so that you don’t have to make the same mistakes that many have.
• This drops years off of your trading dues. Your dues that you have to pay to the all powerful trading gods that unleash fury on new traders

Just a little investment in the beginning can save you tens of thousands of dollars gaining you trading knowledge. So with some patience and some time investment and the appropriate education you can have that account balance soaring in no time.

All of this training was not around when I started and now that I have been trading successfully I see that the training out there is not sufficient enough, that is not up to my standards of what people should be learning.

Why are my standards higher? Well friends and family are wanting to start doing what I do and I can not find anyone out there who I trust to send them too. So I’ve taken this into my own hands. So I’m developing the means to give them my training, an elite training that will help them. There is only one of me though and I hope that my posts are coming fast enough for you guys. Along with my philanthropy, blogging, developing my training courses, and trading for myself, that leaves little time.

I am also committed to helping others and that drives a lot of fulfillment in my life so I volunteer a lot of my time to making a difference in other people’s lives as well. Since that is very important to me and a core value of mine that I do not want to sacrifice I also have to find time for that as well.

So back to trading. In this video I will talk about take profit orders for the first time. I don’t use them that often because I used to and found that they limited my profit potential. Here is what happens:

─ You get in at the start of a good trend and you put in a take profit order for 250 pips profit and it’s hit!

─ WHOOO HOOO, great job 250% profit

─ Then as you feel really good about yourself you go on trading

• Here is where many people meet their fx trading challenges
• Many people pick the wrong times to get in on other pairs and suffer minor losses but now they still have 75 pips of that 250 left
• Then they go to check out that old chart to only find that if they would have stayed in they would have >700 pips profit.
• Ugh! Right!? If you would have only stayed in then you wouldn’t have had those small losses and on and on and on.

─ This is the real life of trading!!!! No one will tell you this and they will hide it in their systems that they tell you about

─ They also will not tell you that it’s never perfect, I was being very generous with the above example. Usually traders loose all of their profits plus some when they move on and try to trade other things.

Those systems out there give you the signals and they look good on paper but look at the time frame that they are on and ask yourself some questions about what trading style that is.

─ Are you at your charts for those periods of time?

─ By the time you would have gotten to your charts could you have entered a position in enough time to make a profitable trade?

─ What about the exit signal

• Are you checking your charts are that time?
• By the time you would have gotten to your charts would it still be a profit?

─ How about the trading style?

• Do you have to sit at your charts looking for these trading opportunities for hours upon hours?
• Does your wife, family, or friends complain that you work all day and then you sit at your charts all night?

─ Those systems look all great on paper, but in real life they stink

─ Really evaluate them and try to apply real life to the trades, you will find that most of the time you will lose and lose big when they are claiming great profits

So Lets Set The Record Straight

You will watch:
─ MISSION PHOENIX get into trades late
─ MISSION PHOENIX get out of trades late
─ MISSION PHOENIX be very imperfect
─ MISSION PHOENIX make mistakes on a daily basis
─ MISSION PHOENIX win big in the forex currency trading market.

How can I win so big with such a lazy proven system?
─ Because I’m a “little” lazy and I HATE to loose.
─ I sought out my method and my education and tailored it specifically for me

• Guess what; I have found that there are a whole bunch of people out there just like me.

This works for anyone and when I started talking with some of my trader friends I found that I was making just as much as them or blowing them out of the water.

In this video we are going to see some more trades that I’m in, 5 of them if I remember correctly. MISSION PHOENIX will also show you that as traders we sometime see some losses during the trade. Does that mean that we close the trade for a loss? No it doesn’t! Not unless there is something telling you that you should close the trade (how do you know if something is telling you, because you use your education and know that the market is telling you that there is nothing wrong and to not close what is going to be a winning position, or it could tell you the opposite and alert you to get out).

In these trades We have 500+ pips profit and we will see that We have an open trade with 99+ pips loss for a total 422 pips profit in trades in 1.5 days!

Now we might stay in these trades for days or weeks? Depends, we will see, but my hunch says “NO” (Really It’s Not a Hunch, I Don’t Have Hunches, there is something telling me that these trends are close to over) and we will look at that in the video as well. I am preconditioned on these trades to jump ship at any sign of things not working out.

Why? Well we will talk about trading mentality versus the specific situation at hand and how we know things could reverse on us for a substantial correction at any time.

This is very important in trading and the key to much success and failure. Just this post alone is worth so much, and you will never get this teaching in a seminar, I’ve taken most of them and the stuff they don’t want you to know, what I’m sharing right here in this blog is what makes and keeps profits, and there is even more that I want to share with you.

We will see how emotionless I am during these trades and with profits and losses:
─ How I am able to do this?
─ What protection mechanism am I using?
─ What is it that has been kept a secret from you?

This is really cool stuff guys. Let me know what you think, feel free to leave comments on the blog below. I read all comments.

Let me know what issues you have in keeping those profits that they do not teach you how to protect, and we’ll see about getting that worked out for you.

I hope you enjoy the video; it is long at 29:12 in length.

-Mission
Live abundantly and then share that abundance.

Forex Training Forex Trading

Video is 29:12 in length

Robert Kiyosaki Why the Rich Get Richer

This was just too good, that I had to post it. A little change in pace, I know from complete forex training, but the ideas are still the same. Also take special note, who you take your financial advice from, who influences your investing?



Robert Kiyosaki Why the Rich Get Richer

Investing in Better Research by Robert Kiyosaki author of Rich Dad Poor Dad and The Cash Flow Quadrant

Posted on Thursday, January 17, 2008, 12:00AM
A few days ago, a reporter asked me if I was losing money in real estate. My reply was, "No, I'm making money."
Confused, he asked, "How can you be making money during the subprime disaster?" I explained that since the real estate market took a downturn, there were more people renting rather than buying, which is great for my apartment business. I also informed him that I'm raising rents since demand for affordable apartments is so high. When someone moves out, I increase the rent and new tenants line up, which means my cash flow is increasing.
He then asked, "Are you looking for new investments?"
A shocked look came over his face when I said, "I've been investing heavily in the stock market since August 2007. I've moved several million dollars into the market."
"The stock market?" he stammered. "Stocks are crashing. Why are you in the stock market? Besides, I thought you were a real estate investor?"
Ignorance Isn't Bliss
As Warren Buffett has said, it's important for society to have accurate and informed sources of information. While I agree, I sometimes wonder about the intelligence of many financial journalists, both in print and the electronic media.
For example, lately on financial TV stations, the reporters have been talking about the run-up in gold and asking, "Is it time to invest in gold and gold stocks?" What a ridiculous question. Now isn't the time to be investing in gold or gold stocks -- that time was 10 years ago, when gold was below $300 an ounce. Investors should've taken substantial positions when gold was cheap. For reporters to be talking about gold today is no different than them reporting on the hot real estate market in 2005, just before the top blew off.
I had dinner with a friend of a friend the other night and he was telling me about the Rothschild formula for investing. According to him, this involves not participating in the first 20 percent or the last 20 percent of an investment run-up. Instead, it's investing in the middle 60 percent, when risks are low and the direction of the price is determined. As the asset value approaches what appears to be the last 20 percent, you sell and move on to another asset class.
As we all know, most amateurs (and, possibly, many reporters) only participate in the last 20 percent.
Take Notes
I wondered if the reporter who asked why I was investing millions in stocks was an investor himself. I did my best to explain to him that there are two things professionals invest for: 1) Capital gains, and 2) Cash flow.
I said, "The amateurs who come in at the top 20 percent of a market are generally investing only for capital gains. In the last real estate boom, the 'flippers' who got no-document, zero-down loans paid very high prices, and hoped for a greater fool than them to take the property off their hands.
"These are some of the people being faced with forecloses today. They're the investors who make the news -- not the investors who are making money."
The reporter then asked me, "So what do you invest for?"
My reply? "Both. If I can, I want both capital gains and cash flow."
I went on to explain that I was investing millions in stocks that were paying a high dividend -- cash flow -- and also had their prices battered down by the market crash, a loss of capital gains.
Spelling It Out
He wasn't the brightest reporter, since he had trouble with the idea of investing for both cash flow and capital gains. After about an hour of explanation, he finally began to understand that I'm not just a real estate investor -- I'm someone who invests for capital gains at a great price, or cash flow at a great price, regardless of the asset class. If the deal is right, it doesn't matter if it's in real estate, commodities, a business, or paper assets.
Here's an example of capital gains for a great price: Back in the 1990s, every time I had some extra cash I would buy some gold or silver. Although I didn't receive any cash flow from gold or silver I knew I was purchasing the metals at a great price, and that someday those prices would rise again.
An example of buying for cash flow at a great price is when I buy a stock that pays a dividend. I wait until the stock market dips and then buy, which is what I'm currently doing. One of the better companies I've been buying is a bulk cargo shipping company that's hauling U.S. grains to India. The more the dollar drops in value, the more grains we export. Every time the market drops, I buy more of this stock at a great price, because I love the cash flow from dividends.
Finally, an example of buying both capital gains and cash flow at a great price is when I find an apartment building at a bargain, and then increase the rents. By doing so, I increase the cash flow and the property value, which translates into capital gains.
Leave It to the Pros
When I watch professional football, I love listening to John Madden because I know he knows what he's talking about. He's been both down in the trenches and in front of the bench as a coach. He knows the game. By that token, one financial reporter I respect is Bloomberg's Kathleen Hayes. She's a savvy reporter who knows what she's talking about. I wonder about some of the other financial reporters.
The problem with much of the financial news in print and on the web, radio, and television is that it comes from journalists who may not be investors. When I listen to most journalists whine and cry about the subprime mess, the slowdown in the economy, and the volatile stock market, I can all but tell that they're not really investors. None of these events really has much impact on professional investors, who follow market trends and are familiar with the underlying fundamentals of the assets they investing in.
So the next time you hear a reporter ask, "Is this the time to be getting into stocks, bonds, real estate, gold, silver, or oil?" remember that it's probably the time to be looking elsewhere. And keep in mind the Rothschild formula of investing. You never want to be too early -- and you also never want to be too late.

Forex Training Forex Trading

I have more videos on the way, the markets have been moving pretty good lately. I'm afraid that I may be slowing down for a little while. Everything has moved so well that we may enter a corrective period, this is when I stay out and protect my profits until we start trending again.

Live trades - 380 pips Profit!!! - Free Forex Training Video

Live trades - 380 pips Profit!!! - Free Forex Training Video

Forex Training Forex Trading

This is another video showing the analysis of the CAD/JPY and the GBP/JPY and real trades. Here I am managing my trades. I just took a look at what the charts were doing and decided to make a video of it because things were starting to reverse on me and when these signals start happening there is no telling how far it will retrace.

It is very easy to trade when the currencies are trending, I only trade during trending periods because it is so easy to make so much profit. I have found that, when people start to try to trade during corrective time frames that even though the general direction was correct and the trade entry was correct, the currency does not behave in the appropriate manner and makes the trader go through very wide ranging swings. This in turn is very hard on the trader's emotions and the trader closes out the trade for a loss or stop losses are misplaced and hit.

Enjoy the video we are doing quite well this month. I ended up closing out these trades immediately after the video for 380 pips profit.

It is very important that traders invest in their eduction. What that investment is does not have to cost a lot of money. However what a trader MUST invest in that does cost something substantial is time. Time is absolutely one of the most important aspects to trading. Don't get me wrong I only want you spending about 15 min maximum looking at charts and trading at a time, but it takes time, it takes months of 15 min sittings looking at charts. This then becomes experience and it is only experience that make you a good trader.

No can we shorten the time that it takes to become a good trader? Well for that it would require somehow sitting with an experienced trader and seeing the analysis done in the same manner that you were trained.

I have not been able to find out there in this world a place where you can receive this type of education that specifically teaches how to trade with a longer term trading and a shorter term investing approach that also mentors it's students over any desired time frame, for a reasonable monetary cost to the students. There are a few programs out there, but the style of trading they teach you require that you sit in front of your computer for hours on end and trading on charts that are much more noisy and make you incur more losses. They also cost a fortune.

Because of this injustice to the consumer and because this is special knowledge that all the free forex learning sites out there will not give you mission phoenix is developing course ware at this very moment that starts at the beginning and take you to professional level. Mission Phoenix is also going to be mentoring you and you get to decide on what level, weekly, or daily. Mission Phoenix wants you to not spend an fortune on your investment education and therefor is developing a lifetime membership of mentorship and coaching that is far less than the cost of many seminars and internet coaching packages out there.

So stay tuned for good things to come!

Live abundantly and then share that abundance!
-Mission

The Trials of a New Forex Trader - Another Case for True Forex Training

The Trials of a New Forex Trader - Another Case for True Forex Training

For this post I wanted to share a good post from a beginner out there in the market. Sometimes I take for granted my method, my education, and my results. It's hard fore me to remember the days of so much uncertainty and all of this seams so simple now. It is very important that you get to sit beside a professional from time to time. To actually do this costs extreme amounts of money, however there are a few professional traders out there that deliver this type of service through the internet via videos. It is vital that mentorship be a part of training. It takes time to start seeing the same things that the profession starts seeing. You can be trained but then people forget, they have to see how the whole thing is put together, time and time again.

Like I said there are mentorship programs out there that are pretty good. I have only found one of them that I sort of like, and I barely found that one. Remember these guys are making tons of money and could careless whether other people out there get it or not. You must find someone who is more interested in teaching and helping others as a driver. There are very few individuals out there that feel this way and that do this. That is why I am here, I'm driven to help my friends and family, and in doing so the means in which I am getting this done lends itself to everyone out there in the world.

So I found this blog post by Colin McGinley. The following is quoted and taken directly from him, and I am not the author of any of the following. Colin did a great job capturing what it is like as a new trader without knowledge and education and utilizing a method that gets you consistent results and prevents you from trading during the times that most people loose all of their gains.

Written by Colin McGinley
My first post of the new year is going to be of the slightly grisly kind. I am going to break down some of the figures that come from my trading results during December 2007.

If you read my blog last month you’ll know that I completely lost control of my trading situation and basically imploded my trading account.

Hopefully I’ll be able to focus on more positive, forward looking topics soon but I have posted a monthly review of my performance each and every month on this blog and I think it is important that I do so as usual. It sort of marks the end of one stage of my trading career and the start of another. After such a traumatic event nothing can ever be the same again.

I closed out 25 entries during December. Only eight of these entries were closed out in positive territory. Fully 14 of those entries were fatefully closed out when I threw in the towel on my positions on December 19.

My account return for the month was -79.09%. To get the true impact of my disastrous December this is what my account equity for the whole of last year looks like on a graph:

The simplified, short hand version is that I was overleveraged and did not handle my losses well at all.

There were many minor errors and mistakes in the prior weeks that culminated in this undesirable result. My trading had become ragged. I needed a break from trading to recharge my batteries but didn’t do so. I didn’t avail myself of the opportunity to extradite myself from the situation when I had the chance. I was pushing myself too hard. I was becoming impatient. I didn’t follow my gut. I didn’t step back and see the bigger picture often enough.

Obviously I want to try and make sure that I don’t make the same mistakes again going forward.

It’s pretty easy to quantify the ways in which this experience has not been pleasant at all. Losing money is never nice. Losing lots of money is even worse. Having to tell your spouse exactly how much money you’ve just lost is something I don’t ever want to have to do again. Especially when future use of that money was linked to potentially moving house or your child’s education.

You doubt if you have what it takes to be a successful trader. Your confidence takes a severe blow.

On the other hand there a few positives that can be taken from the situation. In a way I have the opportunity to completely reboot my trading approach. I can step back and examine my whole trading plan. I can pick over two years worth of trading results to try and determine what things worked well for me and what were my weaknesses.

I am currently putting in place tweaks to my trading plan, mainly on the money management side. The plan for the immediate future is to lock in these changes and to slowly start building back up my confidence by getting back into the market.

I just really love this post, and Colin I'm working hard to get you on the right track. As many of you have mentioned to me I haven't posted anything in a little while. I have been working frantically along with trying to trade on developing a course for you guys. I know my profits are unlike anyone else out there and you want to know how I do it. It very simple, yes it is, and I want to teach. So I've been hard at work developing the course for all of you. It is going to be quite thorough and well I think awesome. I can't wait to start hearing the success stories. So stay posted and we are going to start making some great profits.

Forex Training Forex Trading

-Mission

Live abundantly and then share that abundance!

Free Forex Trading Analysis - Continued GBP/JPY Analysis

Free Forex Trading Analysis - Continued GBP/JPY Analysis

The forex markets are really fun and it's now finally great that the currencies are starting to move after a considerable time of consolidation. Our Great British Pound (GBP) vs. Japanese Yen (JPY) has turned out to be a very profitable trading currency.

Forex Training Forex Trading

Where we left off we were looking at a little Elliot Wave Analysis, We used some Fibonacci analysis as well to look at current price movement. I was also biased towards taking a long position, however notice how I did not allow my bias take over and place a bad trade. In the analysis we say cases for both positions. Long or Short (going up or going down). The deciding factor was how the currency behaved at a critical support resistance zone. When the currency broke that zone, then retested the zone and continued down that was a good low risk entry position downward.

Again we are going to take another look at this currency and see if it is now time to get it. As will most analysis in the currency market the decision is to wait. We spend most time waiting as a currency trader and that takes some patience. However, we are just looking at 1 currency, I am looking at all currencies when I am doing my analysis , and there is typically one currency that is always trending.

It is important to understand that we do not "go to the market," meaning that we go looking for entry points. Entry points should scream out at you, and then when you have the confidence and the patience to then tell that market that is screaming at you "ok, so you're telling me to get in, I'll tell you what, you continue your move and if you retest the new broken support zone and then continue in the same direction that I will believe you and then I will get in." This is called the "market coming to us." We then tell the market to give me proof, it does and we then see we have entered at the beginning of a trend.

So back to waiting. Here is another video showing that same GBP/JPY currency pair, and again we are waiting to see what happens and at this point our job is to do nothing but observe.

Video length is 9:12

Forex Training Forex Trading

Free Forex Training Video - Possible Trade Entry Video GBP/JPY

Free Forex Training Video - Possible Trade Entry Video GBP/JPY

Entering and exiting a trade is everything when trading. It's all about timing. Here is a great example of the forex market behaving as it always does. When I first looked at this chart the emotions kick in and it looks like a great opportunity. But then when my experienced eye kicks in I see that the move is almost over and I should not join the crowd. Instead my technical analysis tells me that it is time to wait.

I and you too should be doing a lot of waiting in the forex market. If you are waiting then you are trading. If you are always trying to make something happen, then you are a member of the heard.

There are always entry and exit signals that have specific technical analysis basis, those entry and exit points are the tools that make very successful traders.

I also mention in this video the difference between trading systems and trading methods. A trading system in a hard core set of rules that governs entry and exits, whereas a trading method is what an experience trader uses. A trading method is a method of trading based on special knowledge and experience, it understands that each situation is different and allows the user to make more accurate assumptions that a trading system can. A trading method is a living and breathing method whereas a trading system is not. A trading method is much better suited for the living, breathing markets.

I hope you enjoy the video looking at technical analysis of the GBP/JPY. Please contact me and give me your feedback, or comments.

This is a 25 min Video. Wanted to let you know before you dove into watching it.

*UPDATE* - since this video was created you can see that the support resistance zone was broken and the currency pair is headed down. I will continue to stay out of this pair on the short term until something more substantial starts to happen. I am anticipating something relatively soon, but it may be after the new years before anything really starts happening.

Forex Training Forex Trading

Live abundantly and then share that abundance.

It's time to make the world a better place.

-Mission

Forex Trading Systems | Forex Software - What's the difference?

Free Forex Training 102 - Forex Trading Systems Forex Software - what's the difference?What core things do successful Forex Traders know?

Forex Training Forex Trading

I found a good press release today that has some good comments that I wanted to share with you. I have bolded some of the key points that are important in forex trading.

Below is a direct quote from the press release:

"There has been significant bad press specifically on forex trading software, and there are certainly some scams online to be aware of, however there are most definitely bonafide options as well. Using forex trading software and systems eliminates the risk involved in currency trading, as Andreas Kirchberger of Forex Killer states "proven software which does the thinking for you and therefore eliminates the human error factor".

There are essentially 3 main factors of successful forex trading software and systems. Firstly selecting your term of trading is crucial to your currency trading success. There are essentially 3 time frames: long term, medium term and short term. The long term trader will hold on to their currency for months. The short term trader, sometimes known as a scalper, is seeking quick fire trades and immediate profits. The medium term trade is the lowest risk option, and require the least amount of capital to realize profits.

Justin Kuepper, a contributor to Investopedia.com, suggests favouring a medium term trade will "help you save money and ultimately become a profitable retail forex trader".Secondly, analysis of technical statistics is required. The currency marketplace is essentially a continuous supply of data which needs to be interpreted and correctly exploited for profit. One needs to be able to understand market fluctuations and be aware of key indicators of a market swing.

This is the attraction of forex trading software, as it will interpret this data and help you make educated decisions on future trades more frequently.Finally, timing of your trades is crucial to your success. John Chen of Profitable Trend Forex System attributes timing in terms of joining a trend as a key ingredient in currency trading success. There are essentially two main orders or decisions one needs to incorporate in one's forex trading system, theses are 'stop loss' and 'take profit'. 'Stop loss' is an order to cease trading when the currency reaches a certain point. 'Take profit' is a more conservative approach to a market upswing, which will result in profit, but not risk a massive collapse." This article comes from 24-7pressrelease.com and is referencing the forextradingsoftwarereview.com website. I did not write the article I am just citing it and want to document where it comes from.

This is a really good article/press release that has some really good points about what profitable forex traders do. Here is my summation and added comments to this article.

1. Forex has gotten some bad press lately - The forex market is a wonderful market, lets get that straight first. However, there are scams and questionable brokers around every courner. With the right education you can identify these with ease and have a great forex experience.
2. It is not illustrated well and I will clarify this more in my following Forex Trading Software vs. Forex Tading Systems post - There is a big difference between forex trading software and forex trading systems. One step farther is that there is a big difference in following a forex system blindly or actually knnowing everything about that system and the trading methodology. This only comes from quality Forex Training, this type of forex training is rarely free. If the demand is great enough and you would really like to learn more about forex training, I have an idea that could give you the forex training for less than your monthly starbucks cost. But I won't waste my time if no one is interested so please contact me.
3. Your term of trading - or your trading style (scalper vs. swing trader vs. investor) makes a big difference in your time investment, your stress levels, and your forex career. What I share with you is going to the medium term style as is what you can do easily without quiting your current job, it takes very little time per day to do, and you can produce expert level gains and results with this term.
4. The medium term forex stylecombines the best of the highest reward with the lowest risk (scalpers have the lowest risk, however they also have the lowest profits per trade. They make up with this by the number of trades they make - sometimes a hundred+ per day, we don't have this kind of time to invest and we can do the same with a few minutes per day).
5. Technical analysis of statistics is required (in our language technical analysis is required). That sounds really hard, but if you see that this line "/" is sloping up and this line "\" is sloping down, then you can do technical analysis.
6. Successful traders uses analysis to determine when to enter and exit trades
7. Some people use Forex Trading Software to give them signals. I personaly do not trust software, and I know for a fact that it does not always work!!! I will explain this in my following Forex Trading Software vs. Forex Tading Systems post. Trading software tells you when to buy and sell. Easy right,,,,that's what I want!!!! Well it's not that easy. These systems work well during trending markets. So you can make huge gains during a trend, and when you get to a correction you end up loosing it all if not more. OUCH!!! Yes I have been there.
8. People use Forex Trading Systems to trade by looking at the technical analysis indicators and getting buy and sell signals from those indicators. When looking at the charts you can also take into account other little things, like cases. "Well in this case you would do xxxxxxx, and in that case you would do yyyyyyy" This is something that Forex Trading Software does not do a good job it. It is not human and cannot make those type of descisions.
9. #8 leads me to this point and that is that taking the last bolded item of the article. Taking the signals (timing) in context or in conjuction with the overall trend of the market is very key to a Forex trader's success. Always go in the direction of the trend and trade with common sense, something a computer does not have. This may all be greek to you but with the right forex training this becomes very elementary and easy.

I have developed over 40 automatic trading advisors, I am an engineer by education and know a thing or two about computer programming. It has taken me a very long time to develop a trading advisor that works. I'm in the long phase of testing it. It is the closest thing to being intelligent enough to know to only trade during tending markets and to not trade during corrective periods.

Trading advisor & automatic trading programs (they execute the trades for you while you are out on the beach) are very hard to come by, the ones that are profitable and work are worth millions of dollars and will only be sold for that. It is much easier for you (unless you have a couple of million dollars to purchase one of these) to gain your forex training and start trading on the medium term time frame.

Forex Training - will never fail you (only your emotions will)

Forex Systems without education - Will produce profits, and will produce losses, you are at the mercy of how much either of those are by cercumstance and luck.

Forex Software - Same as the forex system but can get you into bigger trouble due to the fact that you could be in a corrective period and the software could give you numerous false signals resulting in numberous consecutive loosing trades.

Get you forex education is by for the best means of creating a successful forex career. You won't need anything else except a computer and an internet connection.

If you are interested in me creating a good educational source please contact me. You guys/gals have been great so far and I just wanted to thank you for coming to my blog, you inspire me.

Live abundantly and then share that wealth with those who need it.
-Mission
Forex Training Forex Trading

Free Forex Training Video - Protecting Profits in the GBP/AUD Part 4

Free Forex Training Video - Protecting Profits in the GBP/AUD Part 4

Hey Everyone,

Some interesting things happened on this trade. Well I say interesting when really this is kind of normal for the forex market.

I'm so accustomed to the forex market that when you guys come to me for help that I typically respond with what are you talking about, it always happens likes this. This has been actually been an interest of mine over this past month. I have a retirement account that I am still managing and it has just been funny lately, when really it is the same old thing. I've just been growing accustomed to the forex markets. Friends, I always tell people that they need to trade at a minimum of 3 months in a forex demo account before live trading.

Please hear me on this one!!! Look at the gains that I am getting on these trades...it is realistic to double your account every couple of months. REALLY LISTEN TO ME NOW!!! If you could double (that is 100% rate of return on your entire account balance) in 6 months (and we can do it every 3 or 4). Is it worth it to take a little break and "LEARN" the markets, get a feel for the markets, get all messed up like me because you are accustomed to the forex market. This is what you want...I cannot stress enough how lucrative this market is. Now outside of brokers, we have to be better than them. Only 5% of the traders out there can have the success that we are seeing here. Stand by be and you will be in that 5%.

So how to we double our accounts? lets say I risk 3% of my account balance on every trade. I have $10,000, so I riske 3%...that is risking $300. Got it? if not contact me, I want you to make money...so please ask me, I WILL answer any question you have. So we trade with $300. Lets say that I can average 100 pips per trade (I believe I am averaging about 135), So that means that I am make $300 on my 1st trade. I then have $10300 and I riske 3% = $309 (so we stick with our .3 lots or $300 risk) (1 lot trades in the forex market = $1,000 of currency, this would be trading with .3 lots = $300) So now we make $318 with our 100 pips profit. So now our account balance is $10,627. What is 3% of $10600? It is $318. So we are sticking with our $300 risk or .3 lots.

BORING...right!!!! So If I'm making a little over $300 per trade on average (forget the compounding interest), how long does it take to double my account balance. 34 trades is how long. Well I get this many pips every other day or 2 or 3 days. So that is why I say you can double your account balance every 3 or 4 months. I make BIG PIPS, period! That how I trade, my mediocre trades are 100 pips, I get 200 - 700 pips all of the time! I have even had a few 900 - 1000 pip trades. Trading in this manner is also the easiest on you, it's the funnest. I mean how many people can turn $100 to $1000 in one to 4 months time?

HONESTLY....its REALLY boring though! This is not fast money....Could you? Well yes, I'm tempted all the time....(Mission....you make 100 pips profit all the time, why not risk 50, 70, 80% and make some big bucks).....well, it never works out that way. WHY? Emotions! Its a lot easier to see a -100 pip move on $300 (it's only $300 and I made that yesterday), and so I am confident in the indicators and the trends and everything else (yes, I make mistakes too when I enter the market but the overall trend takes care of everything). Then the trade works out...it always does, and I can manage the trade better that way. But when I see that I'm -$7000 on an account, no one can take that kind of loss in a day, or hours, or even minutes in this market. So you close the trade for a HUGE loss!

So if you are looking for excitement (pants flaming and leisure suites in Manhattan), then you've come to the wrong place.

All we do here is make money, in a very boring way. Sorry for the disappointment....but I at least hope that you like the video!!!

In this industry we ALWAYS use stop losses!!!! PERIOD! Now I have traded without them, but this was a big mistake. Don't loose $15K on one trade like I did because of no stop loss. Yes, I have lost, so listen to me when I harp! Lucky I make $17,400 a few hours before on 4 trades. It still REALLY hurt though. I couldn't trade for a week after that.

Forex Training Forex Trading

Have fun guys!!!

Enjoy



Live live abundantly.
-Mission