Scientific Forex!

Hey,

Have you ever thought that you can approach forex trading using a Scientific way?

Yes, you read it right...

Scientific!!!

 We all know that science and finance don't have much to do with one another but applying a scientific method approach on trading could something that is different.

Too Much Screen Time Can Harm You In Forex Trading

What???

You read the title right.

Too Much screen time can harm you in Forex trading.


Isn't it better for forex traders to be able to monitor the charts 24/7?

Nope.

Why?

Here is why: STRESS

5 Tips For Selecting A Forex Broker

Forex is a lucrative industry for all sorts of business.

From traders, to forex service providers, banks, fund managers, hosting services as well as Forex Brokers.

Due to more and more people dabbling into the forex market, the competition amongst forex brokers is ever increasing.

In the old days, only a handful of people could tradee forex but due to advancement in technology, anyone withb a laptop and is 21 years of age can trade forex from almost anywhere in the world as long as they can register with a forex broker no matter local or overseas.

That is why selecting a forex broker is very important because the broker that you select might not be in the same country as you are.

14 Forex Strategies Revealed by Millionaire Forex Trader

Ever wanted to learn from a Millionaire Forex Trader?

Well now you can because there is an ebook available now that you can get.

Come to think of it, it is not everyday that you can get an opportunity to learn successful forex strategy from a millionaire.

Trading forex is not an easy feat at all because many of us have been there and loss aome amount of money trying to learn the traits of a successful trader.

Taking Too Much Risk In Forex

We all know how powerful leverage provided in the forex market can be a great benefit for us to trade with but it could also bite us back if we do not handle the risk involved.

No doubt that trading forex cana be a stressful thing especially when you are dealing with your hard earned savings in your trading account.

One of the reason that many forex traders fell stressed our about it caused by taking too much risk with their forex trading.

How Leverage Is Used In Forex?

A good question that I was asked about was 'How Leverage I Used In Forex?'

 I was teaching one my friend who was new to Forex trading last weekend and it was kind of difficult to explain to him because English wasn't his first language.

Even if I was to use English, it would still be difficult to explain it in detail.

Luckily, I found this article from Investopedia which does the job excellently.

“Leverage” in general terms simply means borrowed funds. Leverage is widely used not just to acquire physical assets like real estate or automobiles, but also to trade financial assets such as equities and foreign exchange (“forex”).

Learn Your Forex Trading System, Forex Holy Grail Doesn't Exist!

How many times have you come across a Forex trading product that promises to the 'Forex Holy Grail' causing your imaginations to run wild thinking of all the ways that you are going to spend your money when you earn it using this new forex system?

Yes, this happens to most forex traders out there.

It happen to me too....    :)

But I am here to tell you to stop DREAMING!!!!

Every new forex trader might hop from one forex system to another  in a short time.

This is known as 'System Hopping' and this is normal for new traders.

The question is how long are you going to keep changing your forex system?

Along the way, there will be a realization that the Holy Grail doesn’t exist. The best you will be able to find or create will be a system that has great consistency.

Your system will have a decent win-loss ratio.

This win-loss ratio can refer to the number of trades or the number of pips.

 Some good systems (most good systems) will have a higher number of wins than losses.

A few systems will have many small losses and a few large wins that make up for the losses and then some.

Either way, your good system, will enable you to come out ahead over a certain period of time. A 65% win and 35% loss ratio is great!

Once you have gone on your Forex trading system search, you will finally settle on a system that you like and feel comfortable with.

This might be a system you created or bought, or a mixture of the two. Whatever the case, you have your system, now it’s time to get to know this system inside and out.

You want to learn how your system performs in every market condition. You want to learn what kind of win-loss ratio your system has.

You want to know what kind of losing streaks your system has and what kind of winning streaks it has.

These kind of discoveries will be uncovered initially in back-testing your system.

You will do this by scrolling the charts backwards and then seeing all the trades  you could have taken, paying close attention to the losers as well as the winners.

You can do this by simply seeing the trades as they have happened.

This will give you some confidence in your trading system.

Next, you will want to not only scroll backwards in time, but move forward one candle at a time, not seeing what the next candles are.

This kind of back-testing gives you confidence in your trading system, you will need this confidence when you are trading live.

You want to be able to trust your trading system. This is critically important because your system will be giving you signals to take trades when the future is uncertain.

Stop the system hopping and devote some good time to learning one system.

One decent system when traded consistently will make you money, system hopping will never ever make you money in any kind of long term way.


Yours sincerely,




 Check Out my other posts here- My Justinnation

How To Be A Successful Forex Trader

How to be A Successful Trader? or How to Be Successful In Forex Trading?

These 2 questions are probably to most ask questions when it comes to forex trading.

To trade Live with real money is the goal of every trader because who doesn't want to be able o work at home and make money just by looking at their computer.

Yes, the forex market can allow us to do this but it is not that easy.

Luckily, there are 'demo accounts' that newbie traders can trade with before their commit their hard earned money.

But the question comes again.

How and when will we be ready to jump into a live forex acount?

Here is a step by step guide that can help you determine if you are ready.

The basic steps are:

1. Get some charts (demo account).

2. Learn your trading system.

3. Double your demo account.

4. Open the smallest possible live account. 

5. Add additional funds.

6. Only use 1/3 of your fund able money


You look at the list and may think... well it is pretty straightforward and simple.

But trust me, things are not easy.

I have been there...

But this is a formula that can make you a successful trader. (if you follow it)

So take your time to build your trading method and habit and things will follow..

It takes time to get better but eventually, thing will get better..

All the best



Yours sincerely,




 Check Out my other posts here- My Justinnation

Good Forex Traders Are Traders That Manages Their Loss

In forex trading, it is impossible to win 100% of the time.

A good forex trader is not a trader that wins the most of the time but the ones that are good in managing their losses.

When you are actively trading in forex, you will eventually hit a losing trade but if you do not manage your risk well, you will end up blowing up your account.

Take the recent 2000+ pips drop in the Swiss Franc for example, many forex traders out there took a massive hit and many have their account went into 'negative'.

Of course, some may be a problem with the forex broker but again, it comes to the knowledge and importance of managing your risk.

So here is something for you thought:

 Memorize it!

“A good trader isn’t the trader who doesn’t lose, a good trader is the trader who can successfully manage those losses”.

I was talking to a fellow trader this evening, and we talked a lot about the emotional, trade, and risk management aspects of trading.

What it all boils down to is how 90% of traders don’t get these aspects under their belt.

They fight it to some degree.

If it doesn’t have anything to do with the actual system, it’s not worth talking about. This is a costly point of view, it will make you unsuccessful as a trader.

This is why 90% of traders fail and not easy to find a successful forex trader.

The 10% that do manage to embrace it are the few that do succeed. YOU are going to be among the successful few!

It’s important to know that losing a trade is no reflection on you as a trader, it happens to ALL traders. It doesn’t mean you can’t trade and it doesn’t mean you failed , just do it again and don't forget Money Management and learn more about Price Action Trading.

It’s how you manage these losing trades that makes you a good or bad trader.

If you lose a trade due to not trading the system, you might be a poor trader.

If you lose a trade because you jumped the gun, you might be a poor trader.

If you move your stop loss and end up with a large loss, you might be a poor trader.

If you trade based on emotions, you might be a poor forex trader.

You are none of these. You manage your trades.

You take your losses in stride.

The system dictates your trade management and you follow it.

Your losses are never large, never more than the allotted risk.

You understand that losses happen and you don’t let it get you down, you keep trading.


Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Beginners: Fundamental Analysis

If you a new to Forex trading, you can be sure to find some comfort because your are definitely not alone.

Everyday, there are countless numbers of individual jumping into forex trading.

Not matter what the reason, I think we can be sure to say that we all want to make money from this market am I not right?

There are many things to learn when it comes to Forex and you will probably hear traders discuss about technical and fundamental analysis.

So what is forex fundamental analysis?

My Trading Vs AutoTrade ( My trading +405pips, Autotrade -1474.3 )

hi guys,

I just want to post my trading results againts the Autotrade from MyFBook.

I started a demo account of an initial deposit of 1000USD.

It has been running 2 weeks now.

I have chosen the top 4 providers to trade in my demo account.


To conclude for now,

My pip gained : +405 pips
Autotrade: -1474.3 pips

How To Use AutoTrade With MyFxBook

Hi Guys,

Today, I am going to share about a trading feature about MyFxbook which is called 'AutoTrade'

AutoTrade is a social trading platform provided by the  folks at MyFxBook.

What is does is it allows you to copy trades that other traders are making.

When they place a trade, your account will automatically enter a the same trade.

Automatically.


With AutoTrade, you can select several traders that you want to follw as well as setting up the amount of equity that you want to risk for each trader's portfolio.

Take my  demo account for example,

I chose the top 4 provider in Autotrade and put a 5% risk on each of them.

Top 5 Forex Forums

Online forex traders often lead a lonely life because all we do is face the computer and look at charts.

Luckily, there are online forex forums that can allow us forex traders to communicate with each other.

There a many forex forums out there on the web and here are 5 that you may want to check out.

Forex Factory

What Is MyFxbook?

If you are into forex trading, you might or might not have heard about MyFxBook before.

MyFxbook is an online  automated tool  when you can analyze your forex trading system or strategy.
It is also an online social  platform for the forex community online.

In other words, you can use MyFxbook to see how well you are performing in your forex trading and also link up and socialize with other forex traders all around the world.

Forex Morning Trade System

Here is another Forex trading system that I came across and i would like to share it.

It is called " Forex Morning Trade"

The name of the system is self- explanatory.

It is  Forex system that traders can use in the morning... meaning at the beginning of an average trading say..

Here is what the creator of the system has to say:

'My Forex Morning Trade System has proven to be a very successful system for me, and I am confident that after you finish reading this manual and practice trading it for few days, you too will be ready to start making real money successfully in the Forex market.  

 
Before taking you through the system step by step, I will give you a short overview of the Forex Morning Trade System. 
The system is relatively simple to learn and to use; it is throughoutly tested and gives very good and stabile results. In fact, I had almost no loosing month for the last 20 months. 
It is ideal for busy people, because trading the system won't take you more than 5 or 10 minutes a day. Really, this time is enough to check for the trading signals and set up the trade. 
Your trading day will look as follows: 

 At 5:30am (GMT time) you look at the charting platform and decide if you'll open the trade (more on the rules later) 

 If the conditions are met, you'll simply place a trade and walk away. That's all. You don't need to sit in front of the screen, monitoring your positions. The trade will either hit profit target or stop loss automatically.  

The only “drawback” of the system is that you have to get up at 5:30 GMT time, but we always have to sacrifice something to be successful in life, right? '

Here is a video of the system in action

You can download the system here:

DOWNLOAD HERE

DISCLAIMER : This website only indexing / compiling existing links from the internet.

Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Live Trades - 9th Jan 2015

Here are my trades for 9th Jan

USDCAD- Long @ 1.1850

Result: -26 Pips

New Science Of Forex Trading by Toshko Raychev

Every once in a while a huge buzz will occur because of a release of a New Forex Trading product.

This time round, it is called 'New Science  Of Forex Trading Forex' by Tosho Raychev.

Based on the sales pitch, Tosho is a forex competition champion and the systems that he had shared before has been making people a lot of money.

This new product is an upgrade of the methods and is catered to suit any type of trader.

You can even trade without any prior Forex experience before.

Arithmetic Trading Signals- 9 Jan and Conclusion of Trial period

Hi guys,

Its Jan 9th and the Non-Farm Payroll report is due today.

Nevertheless, today is the last day of my 7 day trial with Arithmetic Trading Signals...

(after the trial, there will be options, you can subscribe with them)

So here are the trades

EURUSD 2015.01.09 – Forex Trend Navigator

2015-01-09 13:01:04 Mike N.

Signal Time(GMT): 2015.01.09 12:59 Pair: EURUSD TimeFrame: H1 Trade: Buy(Long) OpenPrice: 1.1817 TakeProfit: 1.1836 StopLoss: 1.1806

LOSS

From the chart, you can see that the price went in our direction but it did not hit the Take Profit (green line).

EURUSD 2015.01.09 – Forex Neural Profit

2015-01-09 11:01:08 Mike N.

Signal Time(GMT): 2015.01.09 10:59 Pair: EURUSD TimeFrame: H1 Trade: Buy(Long) OpenPrice: 1.1813 TakeProfit: 1.1831 StopLoss: 1.1802

Won

GBPUSD 2015.01.09 – Forex Trend Navigator

2015-01-09 09:01:03 Mike N.

Signal Time(GMT): 2015.01.09 08:59 Pair: GBPUSD TimeFrame: H1 Trade: Buy(Long) OpenPrice: 1.5116 TakeProfit: 1.5133 StopLoss: 1.5108

For this trade, the price had a sudden drop and hit the Stop Loss...

LOSS

USDJPY 2015.01.09 – Forex Neural Profit

2015-01-09 06:01:09 Mike N.

Signal Time(GMT): 2015.01.09 05:59 Pair: USDJPY TimeFrame: H4 Trade: Sell(Short) OpenPrice: 119.335 TakeProfit: 118.7062 StopLoss: 119.7392

Same thing happen with this trade, price went and hit the Stop Loss before moving into our direction.

LOSS

Today's signal are not profitable and this may be due to the fact that the Non-Farm payroll is to be released. 

Traditionally, forex traders is not advised to trade during this time but this definitely shows you hoe this forex signal can perform under these circumstances.

To conclude,

I received entered 9 trades from the signals that they provided and won 5

So that is around 55.5%

The thing is, they provide more than 9 signals for me throughout the 7 day trial period but I only managed to take 9..

I their website, they mentioned that they system  has a winning % of 60% +++

So, it is really hard to judge them...

I guess you just have to try them out to find out the answer.

Yours sincerely,




 Check Out my other posts here- My Justinnation

FREE Forex Trading Signals - Join Now!!!

Hi guys, today I would like to share a new forex trading signal service that you can get for FREE..

Yes... FREE....

It is brought to your by the guys from Forexwinners...

It is a Forex forum and whenever there are trading opportunities, the admin of the forum will post the trades in the forum.

PipSpring Forex Trading System Download

If I was to start trading forex all over again..This is the only software
I would plugin on my meta trader


Download PipSpring Software Suite 

Forex Live Trades: 7th Jan 2015

Hi guys, I have a couple of good trades today...

Here they are:

GBPAUD - Short @ 1.8744

Arithmetic Trading Signals- Jan 8th 2015

Hi Guys, I received another 2 signals today from the people at Arithmetic Trading.

Here are the signals,

AUDUSD 2015.01.08 – Forex Trend Navigator

2015-01-08 03:01:20 Mike N.

Signal Time(GMT): 2015.01.08 02:59 Pair: AUDUSD TimeFrame: H1 Trade: Buy(Long) OpenPrice: 0.8091 TakeProfit: 0.8117 StopLoss: 0.8075

ArithmeticTrading Signals- 7 Jan 2015

It's the 7th of January and there were 2 signals sent to my mailbox today..

Here are the 2 trades

AUDUSD 2015.01.07 – Forex Trend Navigator

2015-01-06 22:01:04 Mike N.

Signal Time(GMT): 2015.01.06 21:59 Pair: AUDUSD TimeFrame: H1 Trade: Sell(Short) OpenPrice: 0.8085 TakeProfit: 0.8059 StopLoss: 0.8098

Review Of Arithmetic Trading Signals

Recently, I stumbled upon this website called ArithmeticTrading.com.

It is a forex trading signal service provider.

What you can do is register with them and get free forex trading signals into your mailbox daily.

The free account will produced limited signals..

If you opt ot join them or but their product, you will get full access  i guess..

It's FREE..

So no harm trying it out..

So its the 6 Jan today and I got 2 signals...

 

Signal 1

USDJPY 2015.01.06 – Forex Trend Navigator

2015-01-05 22:01:04 Mike N.

Signal Time(GMT): 2015.01.05 21:59 Pair: USDJPY TimeFrame: H4 Trade: Sell(Short) OpenPrice: 119.638 TakeProfit: 119.0164 StopLoss: 120.0291

Signal 2

AUDUSD 2015.01.06 – Forex Trend Navigator

2015-01-06 01:01:04 Mike N.

Signal Time(GMT): 2015.01.06 00:59 Pair: AUDUSD TimeFrame: H1 Trade: Buy(Long) OpenPrice: 0.8123 TakeProfit: 0.8146 StopLoss: 0.8109

Both were WINNERS...

What I will do is I will post the signals here daily and check them out for a month...

Perhaps we can even grow our account without purchasing their product.

The downside is that I have to check my email constantly...

The 3rd trade some in around 4PM (GMT +8)

EURUSD 2015.01.06 – Forex Neural Profit

2015-01-06 08:01:15 Mike N.

Signal Time(GMT): 2015.01.06 08:00 Pair: EURUSD TimeFrame: H1 Trade: Buy(Long) OpenPrice: 1.1942 TakeProfit: 1.1958 StopLoss: 1.1932

This one was a LOSS

Will keep on updating....

Yours sincerely,




 Check Out my other posts here- My Justinnation