Forex Trading - Poker Players Often Become Trading Millionaires the Skills Needed Are the Same

If you thought that poker paying couldn't teach you much about forex trading you would be dead wrong. If you can play poker successfully you can trade and win because there is a unique mindset needed for both. Even if you don't play poker you will learn the skills needed from this article.

Any successful poker player will tell you that to win you need to know when to bet ( when the odds are in your favour) how much to bet and when to quit, to preserve equity and the skills needed are neatly summed up in the old gamblers saying:

"There's a time to hold them a time to fold them and a time to get out of town fast"

The successful poker player relies on himself there is no one to help him at the table (contrast this with most forex traders who trust mentors gurus or junk robots) and they rely on tremendous discipline to not trade at all, or quit and take a loss and keep their losses small (contrast this with the forex trader who hates admitting their wrong), now you can see why they make great traders.

Trading relies on you - no one else can help you.

You must get the right education and have confidence in it and then the hard part - apply your trading system with discipline in the market. Just like in poker your playing the odds not the certainties, many guru's would have you believe.

You have to have total confidence in what you are doing and the equation for market success is:

Logical well thought out method + the discipline to execute it = forex market success.

If you don't have the discipline to execute your trading system - you may as well not have one!

The poker player will take loss after loss - but he will have the confidence and discipline to know that his time will come, when he can load up his trades and win big. Most traders simply cannot take a strong of losses but that's part of trading and you must do this.

You need to understand you have to lose to win.

Forex trading is actually quite simple anyone can learn to trade currencies but 95% of traders lose. The reason is not because they can't learn to trade, it's because they like to follow others or want to win all the time.

They simply don't have the discipline, or mindset to win and the poker player does.

So learn this:

You need to stand on your own two feet. No following others or believing all the hype that forex trading is easy - its not.

You then need to have confidence in what you're doing, to give you confidence and the discipline to preserve your equity by taking small losses and wait for your opportunities and run them to big profits, when they come.

So if you play poker successfully or for that matter blackjack, then you already have the traits needed to win. If you don't play poker you will see the logic of the material enclosed and can incorporate it in your forex trading strategy and seek forex trading success.

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Review Of The Best Forex Trading Software Packages
You need Forex software, plain and simple.

When you look at the fortunes being made on almost a daily basis in the Forex market, you may be thinking that you want to be a part of that. Sure, who wouldn't? But what you are not seeing is that although the Forex market is one of the largest in the world, where even major banks have complete departments set up to do Forex trading on a regular basis, you need to understand the Forex market.

If you are just beginning, you need to know that there is a tremendous volume of data that needs to be analyzed so that you can make informed and intelligent trade decisions. You also need to be completely on top of things, since the Forex market moves very quickly, and you need to ready to buy or sell when the timing is right.

There are several Forex software systems available out there which allow you various levels of control over each trade. These levels of control range from almost completely automated to somewhat automated to providing analysis only. What are your preferences and how well do you understand the Forex market and all the many factors that affect a currency's value in various different countries simultaneously? While you don't know to have all that knowledge at your fingertips at a moment's notice, you need to seriously evaluate where your knowledge level is, since that will tell you the type of Forex software that can best assist you with your Forex trading.

If you choose a completely automated Forex software package, this is available and can be done. But a word of caution with this. You will need to have a tremendous amount of faith in the software, since it will be making buy and sell decisions with no or minimal inputs from you. Do you feel good enough about a computer software package that could lose you a mint before you could even press the off button? True, such software needs to be very good in order to run with almost no inputs from you, but then again, if it was that good, I have to wonder why anyone of legal Forex trading age would not have their own copy of it and amassing their own wealth on a daily basis.

The Forex software packages in the middle ground provide some automation but take a far less risky approach. They can still run in automated fashion, but you have complete control over each transaction. You specify how much you want to trade, at what point you should execute your stop-loss order, how much profit you want to make figure, and various other parameters. While this could be good, it is still automation and does not maximize how much you could be making. For example, if you say that you want to make $10,000 on a particular trade, the program will execute a sell order when your profits have reached that goal. But there could be conditions in the Forex market where that particular trade would still have been profitable for you, easily reaching the $30,000 profit level, and how because of that automation, you may miss that opportunity.

Still other Forex software packages do the analysis and number crunching of all the data and then present you with the analysis and summary, perhaps also including what the software may consider to be Forex trading signals. Based on your knowledge of the Forex market and what is going on in those countries, you make the decision about buy or sell, and how much quantity. This allows you to maximize your profits and minimize your losses, but it also requires you to have a very good knowledge of the Forex market.

Whichever way you decide to go with your Forex software, choose the one that is best for the way you operate. Using the latest technology to assist you with the in-depth analysis of all data pertinent data is critical to maximizing your success and the right Forex software package can definitely help in that regard.
article source : http://www.articlefeeder.com/Finance/Review_Of_The_Best_Forex_Trading_Software_Package

Learn How To Maximize Your Forex Trade

Learn How To Maximize Your Forex Trade

The foreign exchange market is the largest of the financial markets, and doesn't trade in stocks. Instead, it trades in currency pairs, and you buy, sell or hold based upon how you think a particular currency is going to do against another. For this, you need to learn your way around the Forex market. It's also a very convenient market trading, because it trades 24 hours a day, seven days a week.

With the Forex trade, you need to learn your way around this very different kind of market, and you need to learn how to do trades. Because of this, you'll need to practice a lot before you actually engage in trades for real money. There are several ways to go about this. You can take a course in the Forex trade, either online or in a real traditional classroom. You can also do self-study through a Forex trade course.

Perhaps the best way to learn the Forex trade, though, is to do so with real, hands-on learning. You can do this by researching and then contacting a Forex broker you've chosen. When you've chosen your Forex broker, sign up for a demo account. A demo account lets you practice trade without risking any of your own money. Through demo trades, you can learn about the different types of orders and how to use them, you can learn about the different kinds of currencies, and you can learn about the two different types of analysis you're going to have to do in order to make truly informed trades.

One type of analysis is called fundamental analysis. Fundamental analysis looks at a particular country's current health status in three different areas: political, economic, and social. If a country is particularly healthy in these areas, then its currency is likely to be healthy as well and will be strong. By contrast, a country that is lacking in any of these areas, or lacks in more than one, is going to have a weaker currency because of its instability. You as a Forex trader basically bet upon the fact that one currency is going to be weaker than the other in your pair, and you make your trades based upon this knowledge.

The second type of analysis, technical analysis, also lets you predict how currency trades are going to do. With technical analysis, you examine trends in a currency's present behavior. For example, if a particular currency has been trading strong and going up in value, it's likely that it's going to continue to do so for at least the time being. If it's falling, it's also true that it's probably going to continue to do poorly. Therefore, you can make your trades based upon how a particular currency is behaving.

Demo trades are also a very important way to learn about the Forex trade because they also teach you how to behave as a Forex trader. You're going to have to learn to be detached about your trades; if you are losing money, you're going to have to learn to get out if your research tells you to do so. Many inexperienced Forex traders simply hope that if they stay in, they'll make their money back. However, many Forex traders have lost their shirts with just this type of thinking.

Similarly, you're also going after learn how to get out of a trade if your research tells you to do so even if it's doing well and is continuing to make you money. You want to get out before your trade "crashes" and you lose everything you've made.

Another important thing to learn as a Forex trader is that you should never trade with money you absolutely need. Only trade with money you can afford to lose. Every successful Forex trader loses trades occasionally, and you will, too. So don't ever trade with the mortgage or other money you absolutely must have.

Finally, learning the Forex trade by doing demo trades is also going to teach you that you need to keep your head in the event you lose a trade. However, if you do keep your head, do your research and follow what it tells you, you should be successful as a Forex trader.
article source : http://www.articlefeeder.com/Finance/Learn_How_To_Maximize_Your_Forex_Trade.html

ربح من موقعك | التجارة الالكترونية | الربح من الانترنت
برجاء استمر بالقراءة الى النهاية
اهلا بك عزيزى الزائر فى موقعى
الربح من موقعك و التجارة الالكترونية والربح من الانترنت فعلا أخى يمكنك العمل فى هذا الصرح العربى والفكرة الرائعة التى قام عليها موقعى المتواضع فكرة الموقع بسيطة ويمكن لاى انسان الاشتراك فية وتحقيق الربح فعلا وبسهولة فوق ما تتخيل ان برنامجى الربحى ليس فكرة بناء الاهرام ولا شركات التسويق الشبكى انها فكرة جديدة تماما كل ما عليك عزيزى انك ستقوم بالاشتراك فى موقعى الربح من موقعك و التجارة الالكترونية والربح من الانترنت وستحصل على رابطك الربحى الذى من خلالة ستقوم بدعوة اصدقائك للاشتراك فى موقعى الربح من موقعك و التجارة الالكترونية والربح من الانترنت ولكى اكون صريح معك اخى الكل لابد من ان يحقق ربح فلما لا نقوم بتحويل الوقت على الانترنت الى ربح حقيقى بعد ان تقوم بدعوة اصدقائك

طريقة الربح من موقعى
ستحصل على 4 سنت عن كل عضوا مشترك تخيل اخى انك ستستفيد من غرف المحادثة توقيعاتك فى المنتديات وباكثر من طريقة كل واحد وطريقتة الخاصة فى العمل لكن يا اخى بعد ان تقوم بدعوة 100 عضوا فى موقعى الربح من موقعك و التجارة الالكترونية والربح من الانترنت ساقوم باضة المبلغ الى حسابك فورا وساقوم بدفع الحد الادنى للدفع وهو 7 دولارات امريكية داخل مصر او 50 دولار امريكى لخارج مصر فى بداية موقعى كنت اقول لك لابد من ان تشترى صفخة وتقوم بدعوة اصدقائك للاشتراك من خلالها والان تم الغاء كل شئ انت الان تربح فقط

لنقوم بعمل عملية حسابية

انت الان ستجلب اصدقائك للاشتراك من خلالك وستربح عن كل عضو 4 سنت تخيل انك من الممكن ان تجلب الكثير من الاعضاء بواستطة الكتابة فى المنتديات على الانترنت او من خلال توقيعك فى المنتديات

تخيل انك يمكنك الربح لاكثر من 40 دولار يوميا هذا ما فعلة الكثير من الاعضاء المشتركين بموقعى

اخى ابدا الان فى الكتابة عن موقعى واستعمل رابطك الربحى



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