Currency trading offers immense potential to stock and futures investors seeking new speculative opportunities. However, there are several ways to trade in currencies, and many unsuspecting traders have been burned by aggressive marketing campaigns and gimmicks luring them into unfavorable trading environments. In this book, best-selling trading author Carley Garner covers everything new currency traders need to know to avoid those pitfalls and start earning big profits. Currency Trading in the Forex and Futures Markets begins by demystifying all the essentials, from quotes and calculations to the unique language of Forex trading. Readers learn all they need to know about choosing trading platforms and brokerage firms; working with leverage; controlling transaction costs; managing liquidity, margins, and risks; and much more. Garner thoroughly explains the currency spot market (Forex); currency futures traded on the Chicago Mercantile Exchange (CME); and currency ETFs. She candidly dis

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Let me ask you this; In times of job cuts, government austerity measures and global uncertainties of many kinds how would you rather be earning your living?  Let’s look at a few examples…

1. Working for a large corporation wondering if your job is the next one to go.  There is no such thing as job security anymore.

2. Investing in the stock market funds as a “buy and hold” investor.  Look how that’s turned out over the last few years. Honestly is anyone still selling that strategy as a way to create wealth?  It is possible of course to succeed with this strategy over the very long term.  But that doeas not put bread on the table today does it?

3. Starting your own conventional business, or perhaps already owning one. You’re wondering where the next order is coming from or when your bills will be paid. Your overhead includes staff, buildings, rates, insurance, accountancy fees, legal fees and much more before a profit can be made.

4. Working as a forex trader.  This is a business with a difference. Imagine being in a business with no staff, small overhead, no storefront, no commuting, no office politics and very little government regulation.

I hope you chose point 4.

To succeed in this business you need a sound methodology, common sense, discipline and a rock-solid understanding that if you do not treat this as a business, you have little chance of long-term success. More than 85 percent of new businesses fail even when the owners know what they are doing. Do you really think the Forex business is going to work for you after three months of practice? Trading Forex does give you a certain amount of freedom in that you can trade virtually anywhere in the world at almost any time, provided you have a computer and an Internet connection. You can trade part-time alongside your current job or trade full-time if you like.

Volatility can be good for forex trading provided you have good money management.  Don’t be afraid of it.

Yes it is a good time to start your forex trading career or business.  But start properly- get good education and coaching.  I can provide that for you. Click the link below.

www.sm-forex.com

Once you find a forex trading strategy that makes sense and works for other people give it a proper chance to work for you.  Forward test it on demo and follow ALL the rules exactly as taught.  You must do this to begin with before you stamp your own personality on it. Click here to download the forex trading Demo platform Metatrader 4.

Holy Grail Syndrome sufferers look for something that will give them a signal to trade rather than learning how to trade. They look for magic systems (advertised everywhere) that will make money for them every day. They look for automated trading robots to make money for them “while they sleep” and other such nonsense.
They have unrealistic expectations and want to make millions with a starting capital of just 1,000 Euros. They are fodder for the professional traders who will just take their money. Please don’t be one of these Holy Grail seekers; learn how to trade.

In The Book on Forex Trading I give you a couple of real methodologies to follow that make consistent profits regardless of market conditions. I teach you these as an art form, not as a mechanical system. You will eventually tailor this methodology to your own personality when you have more experience. There has to be some discretion. Give a man a fish and he will eat for a day, but give him a rod and teach him to fish and he will eat for life. If you want to learn to fish, then I am your man, but if you want quick easy fish then forget it and stop reading now!

We won’t follow a mechanical system because although it may work occasionally it won’t work in the long run. Similarly accepting trading “signals” and tips from someone else won’t work either because we won’t know the thought process of the sender at the time the signal was sent. The Forex market can change quickly so what was correct at the time might not be right five minutes or an hour later. Mechanical systems are a lazy person’s way of trading. They are seductive and cleverly marketed (by non-traders). They attract the get rich brigade and it usually ends in tears and a loss of all account equity.

Forex trading is a profession and like any profession it can be learned with hard work, time and dedication. This business could change your life if you take it seriously and be professional. Amateur traders turn into professional traders when they stop looking for the “next great technical indicator or system” and start controlling their risk on each trade. So my suggestion is that you swap your TV time for trading time for the next three months. Once you taste success (financial and emotional), you will find it easy to devote the time and energy necessary to reach your trading goals.

Take a look at my book, free tutorials and other forex trading freebies at www.sm-forex.com or join my facebook page at www.facebook.com/smforex

Forex is new, and many people come to it after a sometimes unhappy experience trading stocks, futures, commodities and options. Many are lured by the marketing wizardry -  no commission, high leverage and 24 hour trading. Everyone comes with expectations, hopes, and fears. You’d better have a good plan or this venture is doomed to fail for you as it is for many others.

Traders come into the Forex market for one reason and one reason only – to make money. You have to treat Forex trading like a business. It’s not a hobby so don’t treat it like one, unless of course you like to lose money. Don’t trade for excitement. Many losing traders want to trade for excitement. They trade for the “buzz,” the adrenaline rush and that’s one reason why they lose. But these people are not traders, they’re gamblers and Forex trading attracts gamblers. They might as well put their hard-earned money on a racehorse or go to Las Vegas and try the slot machines. At least in Vegas they’ll get some free drinks! If you want excitement, try skydiving, but trade Forex to make money.

Misconceptions

People’s misconceptions about what forex trading is about is often shown by how few of them give credence to the notion that in order to be successful they are going to have to trade for at least a considerable period of time. The all too common attitude is that I am going to retire after a couple of years because the forty dollar e-book I bought said I would turn my five hundred dollar capital into a fortune within that time. It ain’t gonna to happen.

Learning to trade forex takes time and money.  It is estimated that perhaps 80% of all new traders blow their whole account at least once.

Stephen Margison has introduced his Forex Managed Account for investors who already have full-time jobs, businesses, families and hobbies they want to pursue.  It is for people who want a professional to look after their money while they live their lives.

Click here and find out more.

While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to “look over the shoulder” of a professional trader hard at work at his craft.This book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided.

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WANT TO MAKE MONEY TRADING CURRENCY? FIRST GET THE CASH YOU'LL NEED - HERE'S HOW

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WANT TO MAKE MONEY TRADING CURRENCY? FIRST GET THE CASH YOU'LL NEED - HERE'S HOW

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Wrong. According to Seth Godin, extraordinary benefits accrue to the tiny minority of people who objectively assess their situation, stop if they are on the wrong path, and refocus their efforts and resources on their real goals.

Godin maintains that there is good quitting and bad quitting. Good quitting is used by winners to abandon their losing tactics quickly. This is quitting within a plan, such as the stop loss in a trade, or taking a system off-line if its performance falls outside expected parameters. It is also quitting before you invest too much time and too many resources, such as abandoning a system that does not fit your beliefs or recognizing that you would rather do something else with your capital. Reassessing your goals and purpose, and then quitting the things that are not supporting your mission is good quitting.

Bad quitting is reactionary or panic quitting. It is selling your position when the pain is great, such as panicking because you did not have an exit plan or did not stick to the plan you had. It is quitting when the going gets tough because you never completed a business plan for your trading: a map of the expected course to your goals.

Society trains us to equate quitting with failure. In reality quitting is failure only if you are quitting the path to your dreams. Quitting unrewarding efforts is the key to focusing your energy and achieving your goals.

Forex trading is a simple and enjoyable way to make money if we are prepared to follow some basic rules. Most traders, unfortunately, don’t follow any rules and thus they lose. They can see the chart patterns, they have a good idea of when to get into and out of a trade but they don’t follow a set of trading rules called a trading plan. Forex trading is a business and a business needs a good business plan in order to survive. Not having a trading plan or a least not having the discipline to follow a trading plan is the main reason people are unsuccessful in this business.

This weekend finish your forex trading plan and begin Monday’s trading with a new impetus.

It is important to remember that the person taking the other side of your trade might be a professional. Are you ready for this contest? Let’s take an analogy -–boxing. You work out in the gym, hitting the pear ball and punch bag for a few months and then you get in the ring with a pro. The theory of the gym is suddenly going to seem a long way away, isn’t it? By reading this book and practicing the methods I will teach, you we will begin to close this gap in skills and experience and gradually level the playing field in your forex trading.

On this blog we strive to keep abreast of the latest forex news and technical data  in order to bring our clients the profits they desire.

This is the Ebook version of the extremely popular ‘An Introduction to Forex Trading – A Guide for Beginners’.

A great reference book for anyone wanting to learn to trade the Forex (Foreign Exchange) Markets. It introduces a wide range of Forex trading topics, and condenses a wealth of trading knowledge into relatively short, easy to read sections. Includes useful examples, ideas and trading strategies.

The book has been written with novice traders in mind, but would equally be ideal for anyone who has recently started trading and would like to increase their trading knowledge.

Topics covered include: Forex Essentials; Analysing the Forex Market; Forex Charts; Technical Trading Techniques; Common Chart Patterns; Moving Averages; Indicators & Oscillators; Fibonacci; Trading Cycles; Advanced Chart Patterns; Time-frames; Trading Strategy; Carry Trades; and, Trading Systems.

‘A great reference tool for anyone wanting to learn how to trade t

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Information on my Forex Managed Account Programme can be found here. You’ll find an FAQs section and my monthly performance there too. This programme is for people who don’t have the time or inclination to trade forex  but would like some of the good returns gained.

There is a lot of information about my new book “The Book on Forex Trading” and you’ll find forex tutorials in various forms including PDFs, videos, Powerpoint presentations and much more. If you read the book you’ll understand the videos and tutorials much better.  I have a colour print version, a Kindle version a PDF and epub version.

My Live Trading Room will begin soon. You’ll “look over my shoulder” as I mentor you on how to use my little known tools and techniques to trade Forex in real-time, with live charts! There’s never been a more powerful way to learn how to trade and now you’ll be able to see how it all works for yourself.

Why Did I Write The Book on Forex Trading?

Well, I can tell you it was not for the money! Very few authors make back their initial investment in blood, sweat, tears, time and money. I had seven years of full-time Forex trading experience bottled up inside of me waiting to get out. I just needed to let the genie out of the bottle.

It is often said that there is a book inside each of us and I believe that to be true. This is mine.
I used to be a schoolteacher and I know from my own experience that you learn more about your subject by teaching it. I am better off from the experience of writing this book because it has improved my trading and the way I look at trading. So there’s a selfish reason here, too.
Additionally, I must have read more than 40 books on trading. Many of those books are academic theoretical and their authors have probably forgotten more about chart patterns, candle patterns and technical indicators than I’ll ever know. The majority of these books are good technical references. However, there are not many books out there on how to make money trading; to execute a trade, write a practical trading plan or how to overcome the thought processes that sabotage our trading. This book is a practical book with a focus on how to make money trading. It is a results-driven book.

Promise to a Mentor

Finally, I promised my mentor when the time was right, I would write the book and teach the methods I learned. With this book I fulfill that promise; so it is also a labour of love.
Trading for a living can be the most profitable career in the world but it can also be the most expensive if not done properly. In this book and blog I intend to coach you in how to make money trading Forex and perhaps in time, achieve your financial freedom. I started from nothing and you can, too. I say this not to impress you, but to impress upon you that your dreams are within your reach and I can help you get there.

This is the first day of the rest of your life. Take the first step with me and fly.

It is designed for the FSS method on the 15 min. chart. I use the whole dashboard on the 15 min. chart and parts of it on other timeframes as explained in the book.

The FSS Dashboard is an invaluable tool in my trading. It comes with full instructions.

Product Name: FSS Dashboard

Price: £39.95

The first part of the dashboard reminds you of the currency pair you’re looking at. (See figure above). Right beneath that is an ADR calculator. This ADR calculator contains (from the top downwards):
• TD. Today’s Range. The background colour for this is normally yellow but changes to blue when the pair has reached a range of 35 pips for the day. If you check back to the Asian Session in chapter 3 I wrote, “The width of the channel must exceed 35 pips in order to begin trading that morning. This is designed to prevent you from trading in a choppy market.” With this tool you can see at a glance if you have a blue light to begin trading.
• YD. Yesterday’s Range. If YD is large often today’s range will be a lot smaller and conversely if you’ve had a couple of days of low ranges it’s possible a large range is coming.

• WADR. Weekly Average Daily Range. This is calculated over 5 days. It is absolutely essential you compare TD with the WADR and MADR. I’ve covered this before and mentioned it in my trade examples. The Room Up/Room Down calculation shows how we get an instant calculation of this comparison.

• MADR. Monthly Average Daily Range. This is calculated over 20 days. If you compare the WADR to the MADR you can tell whether the ranges are contracting or expanding. Contracting ranges will eventually burst out and expanding ranges will eventually become less volatile.

• Room Up/Room Down. This tells us how far Today’ Range (TD) has to go to get to the ADR. The ADR calculation I use is the average of the WADR (Weekly/5 days ADR) and the MADR (Monthly/20 days ADR). If the pair is in an uptrend today the Room Up figure will decrease until it gets to zero meaning TD = ADR. If TD exceeds the ADR long then the Room Up figure will be negative. It will turn red and sound an alarm. Conversely, if we are in a downtrend today the Room Down figure will decrease until it gets to zero meaning TD = ADR. If TD exceeds the ADR short then the Room Down figure will be negative. It will turn red and sound an alarm. When using the FSS method if Today’s Range is within 20 pips of the ADR, then it is unwise to trade in that direction. In other words if Room Up is less than 20 you would not take another trade long and if you were already in a long trade you would perhaps take partial profits. If Room Down is less than 20 you would not take another trade short and if you were already in a short trade you would perhaps take partial profits.

The next part of the dashboard concerns the 20 and 240 SMAs.

• P20MA. This tells us at a glance how far away price action is from the 20 sma. With the FSS method we trade only long when price is above the 20 sma and only short when price is below the 20 sma. We trade away from the20 SMA. If the P20MA is blue price is above the 20 sma and if the P20MA is red then price is below the 20 sma. In the example above it can be seen that the price action is 4 pips above the 20 sma. If you remember from chapter 11, (Countertrend trades (CTT) can be taken, that is trades where the price action is in excess of 35 pips from the 20 SMA and you trade towards the 20 SMA). Get some experience and test before you try this.

Counter-trend trades work better when divergence is present. So if you are to take a CTT then the P20MA must exceed 35.

• P240MA. This tells us at a glance how far away price action is from the 240 sma. If the P240MA is blue then price is above the 240 sma and if the P240MA is red then price is below the 240 sma. In the example above it can be seen that the price action is 26 pips below the 240 sma. Since price is 4 pips above the 20 sma then it is between both smas at this time. When both Indys are red price is below both smas and when the Indys are both blue price is above both smas. It is best when they are both the same colour and trade in that direction.
The next part of the dashboard concerns the Fractal Swing Highs and Swing Lows.

• LS. This tells us at a glance the length of the last (previous) swing. In the figure above the last swing was 34 pips. This is in the average range of swings between 30-60 pips. The LS is blue which tells us the last swing was up from Swing Low to Swing High.

• PSL. This tells us at a glance the number of pips to the last Swing Low. If the figure is blue then price is above the last Swing Low and if red then the price is below the last Swing Low. In figure aboveit shows price is 18 pips above the Swing Low.

• PSH. This tells us at a glance the number of pips to the last Swing High. If the figure is blue then price is above the last Swing High and if red then the price is below the last Swing High. Above it shows price is 16 pips below the Swing High. The yellow asterix tells us the last swing was a Swing High. It can be seen then that price has fallen 16 pips from a Swing High. Since the average size of swings is 30-60 pips in normal trading hours this swing could have a way to go yet. This is useful information at a glance. Looking at this we can glean price has fallen from the Swing High by 16 pips and is 18 pips from (above) the last Swing Low.