Forex Trading Commandments for Success

1. Emotional control is at the heart of good trading.
2. Cut losses with the most strict discipline
3. Make good decisions and winning will take care of itself.
4. When you lose, don't lose the lesson!
5. When in doubt, get out.
6. Keep your risk/reward profile in check.
7. Avoid scheduled news.
8. Consider your account size for appropriate trading.
9. Get a charting program that allows you to build watch lists, sort stocks, and draw trendlines.
10. Scale out of winning positions as they work for you.
11. Don't dig yourself into a hole early in the day or in your career.
12. Trade with a blend of anticipation and confirmation.
13. Evaluate your results at least monthly.
14. Finally (perhaps most important), always be patient.
15. Invest on the side that is winning
16. The objective of what we are after is not to buy low and to sell high, but to buy high and to sell higher, or to sell short low and to buy lower.
17. Capital is in two varieties: Mental and Real, and, of the two, the mental capital is the most important.
18. Markets can remain illogical far longer than you or I can remain solvent.
19. To trade/invest successfully, think like a fundamentalist; trade like a technician.
20. Grow Slowly But Strongly "Pip-Machine"

FOREX Tools - Free Forex Buy and Sell Indicator

FOREX or Foreign Exchange Market is a highly lucrative business venture. Its the single biggest market in the world that's open for 24 hours dealing in currencies of different countries that are traded.

The exchange rate of a currency of one country with those of other countries are determined by the demand and supply of the particular currencies concerned in the market. More the demand for a particular currency say the dollar or the Euro more would be its value with respect to the currencies of the other countries. 

Hence its important to have sophisticated financial tools to determine the exact value of a currency and the rate at which it should be exchanged at a particular moment during the transaction period. Depending upon the volume of transaction that's carried out in relation to the supply, the value of the currency would be determined for either buying or selling at that point of time. The currency prices keep fluctuating, sometimes high and sometimes low as the transaction continues throughout the day. 

To ensure success in investment it would be prudent to have access to a free forex buy and sell indicator. Instead of following the common trend or appraoch for speculation as those normally followed by most speculators that at times may be falwed and risky for determining ones strategy to invest, its important to rely on hard facts and figures. 

So the Free Forex Buy and Sell Indicator must follow the exact trend in fluctuation of prices in the forex market live at any moment of the transaction duration. This will help one to keep track of the buying and selling patterns to determine the value of the currency at a particular point of time.

Moreover such Free Forex Buy and Sell Indicator must provide historical data on the various currency trends that one wishes to trade in to offer some understanding in the buyers behaviour pattern that reaches different values at different times of the day, month or year. 

One might make a deliberate search in the whole of the internet market in search for a suitable free forex buy and sell indicator. Many of the Forex websites would be able to provide the customer with a proper software capable of advising the client at what value a currency shoulde be traded or if one needs to hold back till its ripe to invest or otherwise. 

Moreover a free forex buy and sell indicator takes the guesswork out of forex trading and you eliminate a large amount of risk since you are investing based on solid facts backed by historical datas instead of relying on huntch feelings or some whims and fancies recommended by others. 

However its best left to the client to make the judgement whether or not the particular free forex buy and sell indicator being offered by any particular website is at serves his or her requirements. 

In my own opinion I think I may suggest trying the free forex buy and sell indicator bein offered by either swing currency or the business4profitsystems. 

FOREX AUTO PILOT

Other than the free ones there are certain free forex buy and sell indicators offered by certain websites on Forex trading that might demand a minimum fee. As is always the case most often, the paid ones are better than the free ones in terms of the wide options being offered, the accuracy, the quality as well as the packaging and one which is user friendly in spite of the sophistication of the software concerned. 

I would recommend to you the Forex Auto Pilot. 

As the name suggests the whole process is handled automatically. 

The Forex Auto Pilot would help you to net thousands of dollars each and every month

without: Any knowledge or any skills at all.
without: Promotion of ANY kind.
without: the need for long working hours.

All you do is trigger the action and the money keeps coming in on autopilot without the need for your intervention. 

In addition a free forex buy and sell indicator could be of great help.  The most important job of the buy and sell indicator is to determine the right time to buy or to sell during forex trading.

There are plenty of options available for free forex buy nd sell indicator and each one of them are helpful in some way or the other to the novice who has little idea about the trading aspect in the Forex market. 

No wonder the options for free forex buy and sell indicator is unlimited. However it is equally worth to remember that the features, package and services of a freebie items will never be the same with paid forex indicators.

Discipline and Training in Forex Trading - The Turtle Trading System That Helps to Make Millions from Forex Trading in Currencies

The Importance of Discipline and Technical Analysis for Forex Trading

Discipline in addition to calculated risk is the most important factor that determines the outcome of any battle. 

Strategies and tactics are of little use unless one has complete control over ones own mind to handle the stress to remain disciplined under any circumstances including an adverse one. 

Even in the face of utter defeat if one continues to remain disciplined and not forget the lessons that one learnt during training period, he or she is likely to taste success as per the strategy predetermined before going full fledged for the battle. 

The same is true in finance too, particularly high risk trading such as Forex. 

The Turtle Training

It has been observed that when a group of members belonging to diverse socio-economic and educational background with very little or no knowledge in finance let alone forex, are trained under the able guidance and leadership of an expert or Guru in the field of Forex trading, its factually possible to motivate each of these members of the diverse group and help them steer on their own to make their first millions after receiving just two weeks of intense training alone. 

Such an experiment was first attempted by Richard Dennis popularly known as the Turtle Trader and is a well known Forex trader, took up a challenge from his friend to prove that anyone can be successful in Forex Trading as one sticks to the fundamentals that determines the outcome of any Forex trade. 

This experiment was first started by him way back in the year 1980, when he invited people of different background to undertake an intense two week Forex Trading training program under his guidance. Many people responded to his advertisement that appeared on newspapers and volunteered to learn the nitty gritty of Forex trading under his able guidance. 

It might perhaps be news to you that amongst the group was a boy who dropped out from school, a security guard, an actor and some card players who took this 14 day program and went on to make millions of dollars from Forex Trading. 

These guys together helped Dennis to make $100 Million in just Four Years. All of them without exception became legends in their life time. 

What Dennis taught them was to discipline their mind set and attitude. He gave them the best of training to understand and the technicalities for analysis, to plan out their next strategy.

He taught them to be logical and stick to the plan instead of becoming suddenly very greedy when everything appeared bright and honky-dory or fearful when things turned really bad. 

During training, he gave them live trading accounts so that he could observe them how they reacted and guide them better. 

According to Dennis as long as any person have adequate knowledge and training that clears the fundamentals needed to understand the mechanism of a trading system and likewise applies the mind logically with total discipline, its possible for that person to minimize the losses.

Any Forex trader no matter what the circumstances are must believe in the trading  system and stick to it till one stumbles over a big game that would let him carry home with the winning thousands that he had waited for so patiently and with single minded determination and discipline.  

Dennis proved that most Forex traders fail to make the money in the Forex market because of lack of discipline and not believing in the system or perhaps have failed to understand the fundamentals including the technical modalities for trading due to lack of proper training. 

More often than not, Dennis believes that people are duped into the system because of misguidance and improper training by self proclaimed experts who are no better than con men. 

So it must be kept in mind that although Forex trading might look easy to understand but its actually proper money management and mind set with discipline that helps traders to rake their millions. 

Do not be naive to believe that the market cannot suddenly take a downswing when everything was looking good on paper. Anything can happen for its unpredictable and no one can forecast for sure about the outcome. 

One must be ready to brace the losses, since even the best traders and experts with years of experience in the field too can lose heavily at times. Its because of their discipline that they manage to recover the losses and go ahead to make those millions that everyone wants to make but few succeed.