We recommend that you use a hardware wallet, to be the full owner of your coins. While Bitcoin may be the best known, Ethereum has about half the market cap of Bitcoin and is seeing broad adoption. By providing some of the global hash power needed, you receive rewards and get paid in crypto-currency. If you were to build a pure Ethereum mining rig you would essentially look to maximize raw performance per watt and performance per dollar invested. Cryptocurrency exchange platform? Then you can choose to keep coins or exchange it for other coins or currency.
You get to choose! Don't waste your time and money on the fancy advisors or unreliable signals from the brokers, as they may not give you a chance to earn money. We suggest you to trade manually and with the use of hardcore! In the Forex market, as well as everywhere else, the strongest survives, and they know how to use the benefits of the market to make the big bucks.
All our systems have been tested on the real trading accounts and quotes. All sort of strategies — with the use of graphical analysis, indicators or with no indicators, scalping, and martingale and patterns, as well as strategies for the binary options.
We offer over different strategies and you can test them all! You don't know the name of an indicator or a chart? Our application has a Glossary, which contains clear definitions of all terms used in the FX market. You can test them for free and make your own opinion on them. FX is not a game, but a distinct opportunity to earn money. We also add new strategies to it.
Gold was around long before the Similar to any other product, such as currency we currently use. When particularly interesting to traders currency was irst developed, the value because of its trajectory, over an of money was actually tied to a speciic extended period.
Essentially, there was a time when you could have walked into a national bank and exchanged To really simplify matters, think about a currency note for a set value of the fact that gold has been valuable gold. Today, lat currency is no longer for millennia. The chances are that backed by gold in any country.
So something which has been so valuable what makes this commodity such a for so long will continue to be valuable in golden trading opportunity? When you trade gold on the commodities market, you are not buying and selling actual pieces of gold. Rather, you are trading on the price of gold as it is set by market participants. This is why the high leverage offered You can proit from market volatility by Markets.
That gives you the potential to make significantly Using leverage enables you to control higher returns on your investment if a much larger share of gold than your trade is successful. This means that everyone, novice traders Gold simultaneously offers opportunities included, have access to the action for short-term and long-term trading without having to be a pro trader alike.
While its steady growth is with hundreds of thousands in an attractive to long-term traders, in the investment portfolio.
With that here are the 5 ways to control your emotions in different situations. Select Situation — This is simple. You just have to avoid circumstances that trigger unwanted emotions. If you know that you are most likely to revenge trade after having a losing trade, then just stay away and focus on an entirely different activity for a few minutes and then come back.
In a scenario like these, just simply adjust to the situation. As an example, modify the situation by thinking about all the profitable trades you executed so far and forget about this single trade. It hurt, right? But in this kind of scenarios, stop worrying and compare your result with others. Not only for drawdowns, but this can also be applied to any problematic aspect you face in trading.
Change Your Thoughts — This is simple, You just have changed your thought. You may not be able to change the situation but you can at least change the way you believe the situation is affecting you. In the end, if it is a loser, instead of worrying about it, change your thought on how well you manage risk on that trade. That way at least you change the situation, right?
Take a deep breath, maybe close your eyes or move out from your trading station to calm yourself down. There you have it, this 5 step approach is one that any trader can apply to the most trading situation that causes trouble. Knowing the emotional trigger will help you stop the problem first. Being able to change your thoughts and emotions can create your confidence in your ability to cope.
Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached… always keeping your eyes on the long-term picture. Yvan Byeajee 4. News Bring Noice For me, trading news is like rolling the dice and its pure gambling. In the early stage of my trading career, I did try news trading in many different ways, in many different timeframes.
Eventually, I ended up failing and but I learned two valuable lessons. First one is news bring noice to chart. News can turn readable chart into an unreadable chart. Have a look at the chart below, Have look at the highlighted period and news releases. So be careful when trading with news announcements. The second lesson I learned is that Market news mess up with your decision-making process.
Since news events create higher volatility price action behaviour, we as traders need to make a trading decision within a snap of a finger. Not only that, but we also need to actively manage the trade as well.
Sometimes news event never leaves a time to manage a trade. The best thing you can do as a trader is to stay away from the news. Trading effectively is about assessing probabilities, not certainties. Yvan Byeajee 5. A Well Organized Trading Journal is Your Best Friend After getting a series of trade losses or a drawdown, Trading Journal lets you view your trading in an analytical manner that eventually helps you make sound and rational trading decisions by clearing your cloudy thinking.
The main goal of keeping a well-organized and clear trading journal is to prevent you from taking impulsive trading action, which will ultimately result in saving you in unnecessary losses and drawdowns. Now, what is the best way to keep a trade log? Using a spreadsheet. This is the best way to do it. One of the key benefits of using a spreadsheet is that it helps you to make different reports that offer a lot of useful details about your trading performance.
We separated each section in our trade journal for easy readability. With that here is the Trade Details section where we enter all the data just after placing a trade. And next, here is where we stored trade entry and exit details. Finally, this is where all the outcome of the trades are stored, Through storing trade data in this way, you can easily review your past trades without putting a lot of Hussle into it.
Another advantage is that you can visually display your trading results using various chart metrics. Like using a Line chart to display your equity curve. So, do you have a trading journal? Let me know in the comment section. Maybe I can help you to create a one. Next… 6. But, if we dig deeper, you should understand and, should be happy to get out of the market when the trade is no longer represent to be a profitable opportunity. Related — The Art of Cutting Your Losses Short — Forex Risk Management Sadly, most traders, especially newbie forex traders, disregard the fact that how important it is to treat losers just like we treat profitable ones.
However, on the other hand, successful traders, instead of ignoring losing trades like most traders do , they confront the possibility of being wrong, and therefore they know how to take a loss without hesitation on right time. This is why it is so important to learn to love taking a loss.
It sets you in an even better position to take on winning trades. When you genuinely accept the risks, you will be at peace with any outcome. Mark Douglas 7. There are some months with strong and precise price actions while there some months where the price actions move sideways leaving unreadable price actions. So as Forex traders, we cannot filter out which month is going to be profitable, all we can do is go through every month as normal and executing trading opportunities when it present according to the trade plan while prioritize on managing risk.
Therefore stop getting frustrated after having a negative month. As long as you profitably complete the trading year, you can always compound your trading result and can grow your trading account into a big one. With that here is the percentage of the month by month graph in our trading account Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses.
In whatever you do, strive for enjoyment, focus, contentment, humility, openness… Paradoxically and as an unintended consequence your trading performance will improve significantly. Yvan Byeajee 8. Money management refers to the method of monitoring and planning the use of capital by an individual or a group.
In personal and corporate finance, money management typically entails budgeting, spending, saving, and investing. Next, What is money management in forex trading? In trading, Money management is a strategy for increasing or decreasing the position size to limit risk while achieving the greatest growth possible from a trading account.
Note how both definitions focus on the growth of the capital not the downside of the capital. To protect your trading capital you can use the risk management, and money management is for geometrically growing your trading account. There totally different as the earth and the moon. The main object of good money management is to focus on one thing alone, and that is account performances. Growth is slow and risk is low. Fixed Fractional — Trade 1 contract for every X amount of dollar.
If X amount is large, the growth is slow and risk is low. If X amount is small, Growth is geometric, and risk is high. Fixed Ratio — Use a metric called Delta, and use to determine when to increase and decrease the position size. Growth is geometric, and the risk is low. The best all-rounder among these 5 techniques. Optimal F — Use the optimum version of the fixed fraction from a set of trades.
Growth is geometric, and the risk is high. Secure F — A more secure version of optimal F. Grow is slow, and the risk is low. Now among these 5 money management techniques, what is the best one? We recommend the fixed ratio money management method. One of the core benefits of this method is that it gives you more control in drawdowns. Even a poor trading system could make money with good money management.
JACK D. As traders all we can do is, participating in the movements while controlling what we can control. If you do that, You can easily control and overcome the problem of your psychology side your trading. For me, it is someone who talented at placing and managing their trades. Also keep in mind that, as traders, our first job is capital preservation. So make a habit to think like a Risk Manager. So instead of following trading signals from others, Be engage with the market and get experience, and through that be an expert in manage your trade precisely.
The largest group of consistence losers is composed primarily of doctors, lawyers, engineers, scientists, CEOs, wealthy retirees, and entrepreneurs. According to the above phrase, he clearly defined trading in not a game of intelligence. This is the truth, No matter how smart you are, You cannot outsmart the market. Now you are probably thinking if smart guys even fail, How do I become a successful trader, Is it even possible?
It is all about having a mindset, a unique set of attitudes, that allow you to remain disciplined, focus, and, above all, confident in spit of the adverse condition. A great start point is to start with general trading knowledge. Read everything thing you can read for free. Then instead of open a trading account and trade it right away like most beginner traders do , start reading trading books related to trading psychology, these books put you in a better position to face any adverse condition you will face in the market.
The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money Victor Sperandeo Okay, let me start from a story of Lord Buddha… The Buddha started his first teaching by asking his listeners to choose the Middle Way, the middle way between intense asceticism on the one side and sensual indulgence on the other.
This exhortation to moderation underlies a great deal of Buddhist philosophy over the ages. The time of the Buddha was a time of great religious upheaval and experimentation. Roaming renunciates of diverse religions, finding divine fulfilment and liberation from the misery of life, became a familiar sight of the Gangetic Plain Before he was known as the Buddha or Awakened One, he was Siddhartha Gautama, a prosperous nobleman living a life of luxury.
Later, however, he fled his family, disavowed the lifestyle, and adopted the other extreme, becoming an ascetic practising mortifying austerity. Forex — How to Trade In this section of our forex trading PDF, we are going to talk about the different ways in which you can sell and buy a forex position as well as things to look out for. Ask price: This is the price you are able to buy currency at When it comes to forex trading you can trade both short and long, but always make sure you have a good understanding of forex trading before embarking on trades.
After all, forex trading can be a bit complex to begin with, especially when mixing long and short trades. Long Trade Buy In a nutshell, going long is usually a term used for buying. So, when traders expect the price of an asset to rise, they will go long. Short Trade Sell When forex traders expect the price of an asset to fall, they will go short. This means benefiting from buying at a lesser value.
To achieve this, you simply need to place a sell order. Current Prices and Demand The current exchange rate of a forex pair is always based on market forces. This will change on a second-by-second basis. As we noted earlier, you also need to take the spread into account, so there will always be a slight variation in pricing.
For instance, if you exchange 1 USD for 17 ZAR, the sale and purchase price offered by your forex broker will be either side of that figure. The currency pairs with the most notable supply and demand attached to them will be considered the most liquid in the forex market. The supply and demand aspect is thanks to the investment of importers, exporters, banks and traders — to name a few. The most liquid currency pairs are therefore the ones in high demand.
Forex Trading System to Consider When you feel you are ready to take the plunge and begin live trading, you need to select a forex trading system. There is a vast amount of trading strategies for you to pick from. This is because investors, speculators, corporations and banks have been trading for decades. In this part of the forex trading PDF, we are going to explain a few of the strategies available to you.
Intraday Trade: Concentrating on 1-hour or 4-hour price trends, forex intraday trading is considered more of a conservative way of trading. Focusing on the leading sessions for each individual market, these trades remain open for anywhere between 1 and 4 hours.
As such, this could make it a suitable option for beginners. Currency Scalping : This particular strategy is often viewed as a low-risk form of trading. It is focused on selling and buying currency pairs within an extremely short time frame. This is usually anywhere between a matter of seconds, and 2 to 3 hours at the most.
This strategy makes it very practical to potentially gain a number of smaller profits, with the hope of creating a stockpile of profits. Swing Trading : Often referred to as a medium-term approach, unlike scalping and intraday, swing trading concentrates on bigger price movements. With this strategy, traders are able to leave their trade open for days or even weeks. Some traders like to use this option in order to embellish existing daily trades. Trading Platforms — Explained If you want to buy and sell currency pairs from the comfort of your home or even via your mobile device , you will need to use a trading platform.
Otherwise referred to as a forex broker, there are literally hundreds of trading platforms active in the online space. This makes it extremely difficult to know which broker to sign up with. In the below sections of our forex trading PDF, we explain some of the considerations that you need to make.
Analysis Tools and Features You should also look out for analysis tools available to you. In some cases, this might be embedded, while some offer tools such as technical analysis and fundamental analysis. This is because it will save you a lot of leg work having to move between different sites and sources of information.
Crucially, both MT4 and MT5 are fast and receptive trading platforms, both providing live market data and access to sophisticated charts. Confidence in Your Forex Broker It is essential before you begin trading seriously that you fully trust the trading platform you intend on using. This is especially the case if you intend on using a scalping strategy, for example. However, if you like to trade, it is vital for your peace of mind and your finances that you are fully confident with the fast execution of data transfer.
This is also the case with the precision of quoted prices, and the speed of order processing. All of these things are going to help you to have a successful forex trading experience. To enable you to make the most of new opportunities, the ideal forex broker will be available to you 24 hours a day and 7 days a week, in line with the forex market opening hours.
Independent Account Manager To save you from having to request that your broker takes action for you, your forex broker should enable you to manage your account and your trades separately. By doing this, you will be in a much better position to quickly react to any shifts in the market, and hopefully, make the most of potential opportunities. This will enable you to gain better control over any open positions as and when they arise.
Safety and Security It is important to ensure that your forex broker of choice is a reputable company, who will ensure that your personal information and trading funds are fully protected and backed up.
Segregation is frequently used amongst forex brokers as a way to separate your funds from the funds of the company i. So, no matter what happens to the forex broker, your money is safe and segregated. If you find that a forex broker is unable to do this, we would suggest you find a better broker as it is standard practice these days. All of the brokers listed towards the end of this forex trading PDF are regulated by at least one reputable licensing body.
Forex Trading — Getting Started In terms of getting set up as an online forex trader, the steps remain constant regardless of which broker you decide to join. Below we list some of the steps that you will need to take. Step 1: Open an Account In order to open an account, you will need to enter some personal information. Standard details requested by the broker will be things like your name, residential address, and contact details.
Some brokers will also require your tax status and will ask you to provide more financial details such as employment status, net worth and any regular income. In this instance, you will usually need to answer some multiple-choice questions based on your experience. This is usually a fairly simple process. Some brokers will verify this using scanned copies of documentation. Step 4: Depositing Funds Now you need to select your payment method of choice usually from a drop-down list.
Bear in mind that how long this takes to go into your trading account will largely depend on the payment method — so always check this before parting with your cash. Some brokers even support e-wallets like PayPal and Skrill.
Step 5: Begin Trading After reading our forex trading PDF you should now be feeling confident enough to begin trading. However, we do recommend that you always try out a free forex trading demo first. This will allow you to test out your newly formed trading strategies before risking your own capital.
Forex Trading Strategies In the next section of our forex trading PDF, we explore some of the more important technical indicators and market insights used by seasoned traders. Donchian Channels First invented by Richard Donchian, the donchian channels can be adapted as you like, in terms of parameters.
Should you choose to view a day breakdown, for example, the indicator will be created by taking the lowest low, and the highest high of that period so in this example 30 periods. When observing the moving average on a donchian channel you can look at averages stretching from 25 days to the last days. The direction which is permitted is determined by the direction of the short-term moving average.
With this in mind, you should think about opening one of the following two positions: Long — If the last day moving average is lower than the day moving average. Short — If the last day moving average is greater than the day moving average. You will need to sell your pair in order to exit your trade if you open a long position and visa-versa. Simple Moving Average This is another commonly used forex indicator. The simple moving average aka SMA operates at a slower rate than the present market price known as a lagging indicator.
Furthermore, it uses a lot of historical price data. In fact, more so than most other strategies. A good indication that the latest price is higher than the older price is when the long-term moving average is below the short-term moving average. This could be considered a buy signal due to an upward trend in the market. In the opposite scenario when the long-term moving average is higher than the short-term moving average, this of course points towards a sell signal due to a downward trend.
Moving averages are usually used as evidence of an overall trend, rather than purely forex trading signals. Of course, this is a great way to make your breakout signals much more productive. If you are alerted to a sell signal, this indicates that the short-term moving average is below that of the long-term moving average, so you might want to place a sell order. However, if you are given a signal to buy, this usually means that the short-term moving average is higher than that of the long-term moving average.
Breakout Using breaks as trading signals, the breakout is considered a long-term strategy. The breakout itself occurs when the market goes further than these consolidation limits — whether that be lower or higher. As such, a breakout must take place whenever a new trend occurs. By looking at breaks, you will have a good indication of whether or not a new trend has begun. In this case, you might want to use a stop-loss order to give you a better chance of avoiding a substantial loss.
Forex Trading: Possible Risks As glamorous as a career in forex trading might sound, there are a number of risks that you need to take into account. In the below sections of our forex trading PDF, we explore these possible risks in more detail. Transactions The transaction risk is in relation to the exchange rate and any time zone differences.
This means there is a chance that at some point between the beginning and end of a contract that the exchange rates could be subject to change. The risk of this happening elevates with the more time that passes between entering a contract and settling the same contract.
This generally leads to investors withdrawing investments, and as a result, your return will be lower. The good news is that when a currency rate is on the rise, chances are that the respective currency will be stronger. When this does happen, your returns could be higher. This is because seasoned investors like to gain exposure to stronger currencies. Leverage Risk The higher your leverage is, the higher your losses or benefits will be.
Of course, this means leverage can affect your trading in a positive or negative way — depending on which way it goes. Best Forex Trading Brokers of The final part of our forex trading PDF is to explore which brokers are popular with both newbie and seasoned traders.
Each of the forex trading platforms listed below has been pre-vetted, meaning that you can be confident they tick most boxed.
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