A Personal Watershed - Is Forex For You?

By Thomas H. Rivera

One of the biggest markets for investors to open up in recent years is forex trading. A lot of people use it as an alternative to the stock market, and after the bloodletting on Wall Street last fall, who can blame them? Doing forex trading requires a lot of soul searching, and a lot of time to do well. Asking if it's right for you means knowing the following things.

The forex market is an opportunity for you to exchange foreign currencies. Unlike the stock market, you're not investing in a certain company. You're actually investing in a currency. Unlike the stock market, there are not hundreds of thousands of stocks to pick from and research. You get a short list of currencies depending on which broker you have, and you can trade them. This makes research a lot easier, and you can get good with a few currencies.

The opportunity with forex is endless. There are always people trading the markets 24 hours a day, 5 days a week. This means that you can trade as often or as little as you like. You can develop a trading plan that works for you and stick with it. This means that you can completely customize your plan, your money management, and your results.

There is endless opportunity for profit in this business. You can set up huge manual trades when you notice a trend starting that can net you 1000's of pips in profit. This can amount to you making 1000's of dollars in a matter of minutes or hours. Anytime there is that much potential in one place, people start to take notice.

A lot of traders try to automate the grind it out aspects of forex trading; these are automated trades that are programmed with ranges of acceptable values and buy and sell orders queued up if a condition is met. This is no experience for doing accurate research on your own, but can let you have the freedom of mind to, say, get out of your chair and use the bathroom without panicking that a market shift will wipe you out. There are some who take the (decidedly unwise) view of not even learning much about forex markets and letting the computer software do this for them.

Forex is a great way to make a lot of money from home; doing it on a day trading strategy requires constant attention. Don't think that this is something that will rake in the bucks while you practice your golf swing. This is a job, and if you don't treat it as such, it's going to bite you in the ass, and hard. That said, it lets you work from home without anyone lurking over your shoulder. You are at the mercy of the trading desks schedules, so keep that in mind. Day trading forex is sometimes called a lifestyle choice.

Day trading on forex trades your time for watching numbers on a screen and plotting graphs. It pays handsomely if you're patient and follow the basics. And yes, it's possible to make more than doctors and lawyers who went to college for eight years. It's also possible to have an overleveraged put call wipe out two months of earnings in 15 seconds. We recommend focusing on conservative, safe strategies until you get a solid understanding of what's going on.

If you're the sort of person who lives for being wired on coffee, staying inside for a-- hour trading day, and staring at a computer screen, forex trading may be for you - even if only temporarily. The real secret of forex day traders is that the successful ones get out of it and retire, and retire early. - 23212

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Good Traders, Bad Traders (Part II)

By Ahmad Hassam

Can you be a scalper? Yes, forex scalping is something that many of us do. Forex scalping is best suited to the time when the market is ranging. Scalper is a workable profile for a small retail trader. However, you should be able to view the overall trend of the market to gauge whether you are trading with or against the prevailing trend.

A scalper might use a 10 minute chart to follow the market, a 1 hour chart to determine the long term trend and the 5 minute chart to time the entries and exits for each trade.

Day trading is something that many people are successfully doing from the comfort of their homes. There are many people who now make a living from day trading. In day trading, you open a trade and close it before the end of the day. That means you do not keep it open overnight usually. Day trader is a good profile for a new trader.

A position trader is always for the lookout for big market moves that can get him/her 100-500 pips per trade. He/she might use a 1 hour chart to track the market, the 15 minute chart to time entries and exits and 1 day charts for trend determination.

Position trading is long term like a few months to a year. A lot can happen in few months to a year. The whole world can go topsy turvy. The important question is can you make an investment for that long and survive looking at it for that long.

If you aim for a 1/3 risk/reward ratio, a Guerilla will risk 5-10 pips per trade, a scalper will risk 15-20 pips per trade, a day trader will risk 25-30 pips per trade and a position trader will risk 40-50 pips per trade. Each profile requires different scales of charts and time frames but also indicators and money management parameters.

Always keep in mind that in forex trading a 10 pips move up or down can easily occur within seconds or minutes very quickly without any reason or rhyme. No two traders can be exactly alike. Even if two traders use the same charts and technical indicators they might interpret them differently.

The differences in money management techniques and attitudes are much less. Good traders tend to share money management and attitude traits. So do bad traders. Do you want to become a good trader or a bad trader? - 23212

About the Author:

Mr. Ahmad Hassam has done Masters from Harvard University. Try these cash printing Forex Signals from heaven. First trade on your Forex Demo Account!

Forex Software Robots Take On Humans

By Terry Forex

The Forex marketplace has exploded in popularity last years and it came with a question "Who wins between a Forex Software Robot and a human day trader?" and the answer to this age old mystery is it is not even close. Throughout this article I will go through the main reasons why the Forex Software Robots will come out on top every time versus their poor human combatant.

1. The human condition - The problem with competing against a Forex Software Robot is that from the start it is just not fair. From the beginning the human need to eat, to sleep and to seek out other humans for companionship just can not compete against a Forex Software Robot that can run twenty four hours a day seven days a week without having to do any of the above. Someone told me that with meth you can stay up for days at a time without eating but making sound financial decisions is not part of the package.

2. Emotion - To compete on the Forex marketplace you need to use that side of your brain that just focuses on logic and stays the heck away from the emotional feelings that are great in a relationship but suck on the Forex marketplace. The Forex Software Robots are programmed to focus just on the numbers and trends in order to make you money where as us humans can be swayed way to quickly with a sudden surge of adrenaline or out of fear knowing that if our next few trades are not successful we will be eating Spam for the week. Emotion is a seven letter bad word in the Forex marketplace.

3. Consistency - In order to pull off profits in the Forex marketplace the day trader needs to be completely focused and consistent when it comes to making good trades unfortunately this is a rarity in the human world. Silly little thoughts like what am I going to do Friday night, why the heck is the wife mad at me this time and is there is a reason why the Toronto Maple Leafs love to torture me will screw up your consistency in a heartbeat. Again those darn Forex Software Robots are able to run for twenty four hours a day seven days a week focused completely on the numbers and making the right trades to make you money

All of the people on the edge of society have been telling us for years that one day robots are going to run the planet and when it comes to the Forex marketplace they are probably right. Us poor humans are great at a lot of things but when you throw in a five second attention span, emotions that screw everything up and the desire to eat and sleep in the end the Forex Software Robots are going to keep on winning and keep pulling in consistent profits. It is time to throw in the towel. - 23212

About the Author:

Want to find out more about Forex Software Robots, then visit Terry Forex's site on how to choose the best Forex Software Robots for your needs.

Grants for Minority Women to Start a Business

By John Holden

In order to start a business, women will usually go get a loan from the bank or perhaps ask friends and family for a loan. Not many realize that they can get free money in the form of grants.

Business grants for minority women are better than getting loans and borrowing money in many ways. One is that they do not require repayment of the money and also your credit will not be checked since you are not required to repay it.

Many organizations give out minority business grants for women including the federal government. The organizations may include Non-profits and businesses.

If you want to be taken seriously for minority business grants for women, then you must have a business plan. The grantors want to see that the money they give you will be put to good use. A business plan can also help you to organize your business and set goals.You can look for sample business plans online if you do not know how to write one. Otherwise, there are business consultants you can hire to help you.

If you do not know how to write a business plan, there are many sample business plans you can look at online. You may also want to hire a consultant who can help you write up a plan.Go to the government website to find grants. The website lists many grants so you will need to sift through them and find the ones that pertain to your cause.

Next, do some networking and make contact with the non-profits and local businesses and find out if they give minority business grants for women. You can at least get some good business advice from the established businesses.

Contact your local or state government. These governments usually have their own grants separate from federal grants.Since there are many minority business grants for women out there, it is in your best interest to apply for as many as possible. You may not get all the grants but you will certainly get some by the sheer volume that you apply to. - 23212

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To read more about US grants, check out Success Grants. Also, check out the Success Grants review now!

Trading Forex?

By Kris Deaney

The Forex marketplace is filled with opportunity. It's additionally a risky place to trade, unless you've got 2 things sorted out initially.

The first is a sturdy trading plan, that can be implemented with discipline. The second is a reliable Forex broker. The aim of this article is to discuss the factors needed in a high quality Forex broker, thus individuals will be ready to make sure they join up to one.

Initially, a Forex broker should be able to provide instant completion of trades. It seems obvious maybe, but many brokers out there do not do that, and this results in what is known as slippage. It means that profit is lost.

One of the issues is that the Forex industry is not regulated by a governing organization, mainly since it is not traded on an exchange, as it is far too big a market. It means that brokerages can hypothetically operate as they like and sadly for a number of them it means they trade in opposition to the trader. These companies should be kept away from completely.

After that, traders ought to just be trading with firms that operate on a low spread. The spread is basically the difference between the bid and the ask price or in other words, what it will be purchased or sold for at a specific time. It can be looked at as the price to put on a trade. The higher the normal pip spread, the bigger the prices to make trades.

Sometimes traders do not think about the prices of the spread when they trade, but , they do this at their own peril, because it will have a huge impact on gains and losses, particularly when a trader is putting on regular trades.

Additionally, a broker should have a full set of research tools offered for use by each trader. This means that they'll trade as other traders with a brokerage organization, or bank will. Additionally, they must provide up to the minute economic news, so that traders are aware of and can trade, depending on global events and economic data.

They ought to also give the opportunity for a education program, especially if traders are inexperienced, so that they'll build up a good understanding and progress their trading methods and their expertise.

This can often come with them having virtual accounts, thus traders can trade with virtual money, without the full pressure of an actual money environment, at least to begin with. Bear in mind however that trading with practice money is totally different emotionally from trading with proper cash and at some point every trader has to to learn to cope with the added stress of a real cash environment. - 23212

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For further information, or to read an independent report of the Forex Brokers Reviews, just Follow This Link.