Having the right mindset for trading the Forex market – trading psychology if you like, is essential to success. This sometimes over-looked area of Forex trading is detailed below in a video interview from the recent Virtual Money Show event. In case you missed it here it is again – some great advice.

I was at the London Money Show and was very impressed! Lots of great educational seminars for those who want to learn Forex trading plus other forms of trading and investment.

What did you guys think? Oh and I loved the RBS Playstation F1 game…very cool!! A great ay to practise racing the Silverston circuit!!

So here’s the link to the Virtual Money Show…oh and its happening on 16th Novemeber – The Virtual Money Show

What a great idea….see you guys there?!

Happy trading – To Your Success

Best wishes

Annabel

Where do you find a profitable Forex trading system?

I recently came across this great Forex trading system from the Babypips forum. I would highly recommend joing this forum – lots of great traders discussing strategies, analysis, fundamentals and there’s a cool play area too for those after hours games! Having recommended this web site to many I thought I would add a post about it.

Most people want to get their teeth into a Forex trading as soon as they can! This gives you a good starting point.

The system is called Cowabunga from the guys at www.babypips.com and trades mostly with Cable – The Cowabunga System. Thanks to babypips for sharing!

It’s clear to follow and gives some good entry points which works well on Cable – one of the best currency pair to trade especially for beginners. Use this to gain confidence and consistency with your trading – remembering to keep detached from your trades.

Happy trading – let me know how you do!

Annabel

Having an effective exit strategy is equally important as entering the trade so you can take full advantage of Forex trading and become a successful Forex trader.

The presenter uses a Moving Average cross-over and MACD indicator to confirm the trade, entry and this also should be used for an exit strategy for effective Forex trading.

Thanks for reading – To Your Success!

Best wishes

Annabel

‘Can Forex Trading really be Easy?’

So I thought I would collate some trading strategies so you can see my charts and a strategy you can use. Its up to you to find the right strategy for you to maximise your profits and minimise your losses. Most people find the hardest thing to do is to press the buttons to enter and exit a trade. This is why most people find Forex trading isn’t easy – emotions get in the way!

The following chart explains a strategy I trade with entry and exit points – the idea being that you really do enter when your strategy tells you! This chart might make Forex trading appear easy – as with most things…its easy when you know how!!

Bollinger Bands and RSI Easy Forex Trading Strategy

OK – so this strategy uses Bollinger Bands and RSI oscillator with support and resistance levels.  I like Bollinger Bands as they provide a good visual indication of general sentiment with confirmation coming from the RSI.

As you can see when RSI hits the 30 level this indicates an oversold reaction – in other words the GBP/Cable has been sold off and is now under-valued. You can see the same price movement on the chart with the shadows of the candlesticks hitting the support level 1.

The trend changed and GBP strengthened against the USD…by approximately 100 pips – not bad!!

An easy Forex trading exit strategy would be when the RSI crosses the 70 level and shows a downward line indicated by the  price reversal on the candlestick chart.

This chart in particular is interesting as if you notice there is also a divergence of the RSI and candlestick chart. This indicates a potentially big move. Normally, if the chart shows an uptrend whilst the RSI oscillator shows a downtrend a bearish move can be expected. A few hours after this screen shot was taken the GBPUSD declined further to the 1.5700 level!

Add these two features to your charts and see how you can profit from this relatively easy Forex trading strategy.

To Your Success!

Best Wishes

Annabel

• To pay for a Forex Training course
• To surf the net – but how do you know what to look for…when…well when you don’t know what to look for!
• Look to a reputable Forex broker and find one which suits you, your location and offers some good Forex Training (take a look at this Forex Broker Review page to see which have training)
• Buy a Forex Training guide and find some free Forex Training to develop your Forex Trading plan and experience. For FREE Forex Training add your details in the boxes on the right so I know where to send the information to.
• Hire a Forex pro to teach you. Again expensive and probably not necessary at the beginning.
• Join a Forex Training forum

Forex training courses are again really expensive. I spent alot of money on a weekend course (mostly about trading the Stock market) a few years ago – promised much but never delivered. It seemed to be more like a hyped marketing-led tactic than a serious training event for thoise who wanted to learn how to trade successfully.

So what do you do? Surf the net – good idea…ahh but what do you look for when you don’t have the knowledge or Forex Training to know what to look for?

So I think we can cross that off the list then – for the moment at least, when you are starting out anyway. OK – so next is a good Forex broker. There are many about and many have much to offer. Check out this list of Forex Broker Review to help you decide who offers what and whats right for you. Some brokers will have good Forex Training either online, at their offices and with live chat – and some even offer competitions and forums. Take a look!

So moving on to a good Forex Training guide. To start this one ‘Trade Forex From Home’ (available from www.tradeforexfromhome.com) is well worth a read without being complicated or full of jargon. Well I would say that – I wrote it. OK but thats because there was so much out there online and after having paid lots of money for the weekend course I decided to write it to help you make a start with your Forex Training.

Tell you what if you add your details to the boxes on the to right I can send you part of the guide for FREE  so you can take a look and see what you think.

You could hire a Forex Training pro to help and advise you too but they are expensive and to be honest its good to figure this stuff out for yourself sometimes after having some kind of initial introduction from either a Forex broker or a Forex Training guide like the one I mentioned.

The last option I can think of is a Forex Training forum. Again a really good place to learn but you will need some Forex Training first or else you won’t know what everyone is talking about!

Well hope that helps and at least gives you some ideas and options. Trading the Forex market can be very profitable if you do it right so its important to learn the right way. There’s loads of free stuff out there but you will need to buy some stuff – possible a couple of books or a Forex Training guide.

Oh – I nearly forgot.

Head over to your right and check out the most popular Forex Training books on Amazon – that will help too!

And…before I go you can ask any questions about Forex Training over at www.tradeforexfromhome.com in the questions and Answers page.

Go ahead…ask away!

Well thats it for now – hope you enjoyed the read. To Your Success as always.

Annabel

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To be the Best Forex Trader – here’s a money-making lesson that you can borrow from investors. These guys use technical analysis to help them make investment decisions in the stock market and you can use them too to max your Forex trading and be the Best Forex Trader.

The principles of technical analysis in the equity markets are the same as those in the Forex currency trading markets. In fact, the only real difference between the two is that the Forex market is open 24 hours a day while the equity markets are not.

Honestly – you can set your own times to trade…you have a whole 24 hours! Be the Best Forex Trader and trade at times to suit you.

You can use techniques from other traded markets to maximise your profits and be the Best Forex Trader. The goal of technical analysis is to predict profitable currency pair movements by analyzing price trends – pretty much the same as trading any other market. To be the Best Forex Trader take a look at these studies below:

• Elliott Waves — Developed by Ralph Nelson Elliott, this methodology is based upon the theory that market performance can be predicted by studying wave patterns that develop over a period of time.

• Fibonacci Studies — Developed by 12th century mathematician Leonardo Fibonacci, this methodology is based upon the theory that changes in trends can be predicted based upon prices interacting with lines based upon certain sequences of numbers. This is an important study as many professional traders use this information. Its available to all so you can be the Best Forex Trader and impress your friends!

• Parabolic SAR — Developed by J. Wells Wilder, this methodology is based upon the examination of prices in comparison to “stop and reversal” (SAR) numbers that indicate entry and exit points for a trade.

• Pivot Points — A mathematical formula used to determine when to exit a trade based upon the numerical average of the high, low and closing prices. One of the best resources I have found for Pivot Point calculations is over at www.actionforex.com
  

Because the Forex market never closes, and currency pairs are traded around the clock, definable patterns develop more quickly and the technical analyst has a plethora of Forex currency trading data available to work with.

If you use the above methods then you will be giving yourself the potential of becoming the Best Forex Trader – a trading legend even!

Let me know how you get on and what you think of www.actionforex.com – I love it!

Good trading.

Best wishes

Annabel

www.tradeforexfromhome.com

You can maximise your Forex Education so you only have to spend a couple of hours a day sitting at your PC.

More and more people are beginning to hear about Forex trading. Forex Education enabled 50% more US retail traders to start their own Forex trading career last year. FOREX stands for FOreign Currency EXchange Market. It was once available only to the large banks, multinational corporations, governments,and other financial markets and institutions; however it was de-regulated in 1997, and now anyone may participate.

This is a very exciting and lucrative market to trade IF you have the right Forex Education.

Many who have never invested before are also now  successfully trading the Forex market.

The Forex market is open 24 hours a day, except weekends, so you can participate whenever you have time. Trading is now done online and transactions are almost instantaneous – thats why its important to have a reliable and fast internet connection! No Joke!

The Forex market offers 100:1 leverage, so you can control large amounts of money on the market while using much less of your own money and while you grow your Forex Education. You can start with a mini-account for as little as $300, and with a strategy, steadily build your account and confidence, until you can open a regular account.

This is most important to your Forex Education – grow slowly and steadily to build your confidence and understand how this market works.

You can grow that $300 seed to substantially more money in 6 months with the right application of sound strategy. And, you can set the level of  risk you’re willing to accept; and you can do this with very minimal risk.

Forex is the world’s largest, most liquid trading market. It is the best trending market, moving in the same direction (up or down) over 78% of the time, and you can learn to profit on either trend. Technical analysis works very well in this market, and there are many tools which aid your Forex Education so you can maximise this market.

Thats why growing your Forex Education is important – there are tools and techniques which will work for some and not for others.

It takes time to realise what works for you and which part of your Forex Education you need more information on.

Because most Forex trading is focused on 7 major currencies, your Forex Education can be more effective in a shorter period so you can make quick profits. There are many Forex Training courses and Forex Education for free information, including : Trade Forex From Home

There is great leverage available for the Forex retail trader you can concentrate on making say a minimum 30 pip gain per day. You should be able to do this the majority of times using your acquired Forex Education every day which should take say maximum 2 hours. Take a look at the chart below:

Forex Education provides the knowledge to max each trade

The best times to trade are just before the UK stock market open – approx. 6am UK time and the US stock market market open at approx. 2pm UK time.

Ofcourse you can trade for more pips and then increase your pound per pip margin. A 30 pip gain at £1 per pip is £30 but at £10 per pip this increases to £300 right up top a possibility of trading £100 per pip.

So you see it is worth getting your Forex Education in place to make the most of trading the Forex market!

Have you found this useful? Please leave a comment or ask a question on the Q&A section of my web site:

www.tradeforexfromhome.com

Happy trading

Annabel

More information here:

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