Euro’s Weakness Continues as Ireland Denies Crisis

Source: ForexYard

The euro is currently trading near a 6-week low vs. the dollar amid the Irish debt crisis. Ireland has denied speculation it was seeking an aid package before tomorrow’s meeting of European finance ministers. It was also reported that Germany is pressing Ireland to seek aid in an attempt to calm market volatility. The high uncertainty in this matter continues to weaken the euro on all fronts.

Economic News

USD – Dollar Closes Bullish Week Following Positive U.S. Economic Signals

The U.S. dollar rallied against most of the major currencies during last week’s trading session. The dollar’s most notable appreciation took place vs. the euro, as the EUR/USD pair fell to the 1.3573 level, marking a 6-week low. The dollar saw rising trend against the Japanese yen and the British pound as well.

The dollar’s bullish trend came as a result of positive U.S. economic data, which signal that the economy is recovering. The most significant data were the employment reports, which showed that payrolls rose more than forecasted in October, signaling that businesses may be recovering faster than Federal Reserve’s estimations. Payrolls climbed by 151,000, well above expectations for a 63,000 rise and following a revised 41,000 drop the prior month. In addition, the Trade Balance indicator showed that the trade deficit in the U.S. narrowed more than forecast in September as a drop in the dollar pushed exports to the highest level in two years. The gap shrank by 5.3% to $44 billion. Exports increased by 0.3% on foreign demand for aircraft, generators and foods, while imports fell. It currently seems that further positive data from the U.S. economy will strengthen investors’ confidence that the economy is recovering, and might lead to another bullish week for the dollar.

Looking ahead to the following week, several significant economic releases are expected from the U.S. Traders are advised to focus on the Retails Sales, Producer Price Index, Long-Term Purchases, Building Permits, Consumer Price Index and the weekly Unemployment Claims reports, as these are likely to have the largest impact on the greenback during this week’s session.

EUR – Euro Tumbles amid Ireland Debt Crisis

The euro fell sharply against all its major rivals during last week’s trading. The euro dropped about 400 pips vs. the U.S. dollar, marking a 6-week low for the European currency. The euro also fell about 200 pips vs. the British pound and the Japanese yen.

The euro’s bearishness came as a result of the European sovereign-debt concerns. The main concerns dealt with the Irish economy, and its possible difficulties to pay debts. Several reports have recently stated that Germany is pressing Ireland to seek aid before tomorrow’s meeting of European finance ministers, in order to calm market volatility. Germany’s Chancellor Angela Merkel has even publicly clashed with European Central Bank Jean-Claude Trichet on the matter. However, Ireland official have been cited saying that aid talks will not take place as the economy is not in need for external assistance. Nevertheless, current estimations are that Ireland will eventually request an aid of about 80 bullion euros ($110 billion) between years 2011 and 2013.
As for this week, traders’ main focus should remain on Ireland’s bailout concerns, as this is likely to be the main economic topic for the near future. Reports regarding an aid package are likely to support the euro, just as continuous speculations that Irish bond-holders will have to anticipate in the burden could weaken the currency further. Traders are also advised to follow the German ZEW Economic Sentiment release on Tuesday. The German economic condition becomes even more imperative now that another nation of the region might require an external aid, and economic data from Germany is likely to have a large impact on the market.

JPY – USD/JPY Trading Near a 1-Month High

The Japanese yen fell against most of its major counterparts during last week’s trading session. The yen dropped about 150 pips vs. the U.S. dollar, and the USD/JPY pair is now trading near a 1-month high. The yen also fell about 200 pips against the British pound.

The yen fell last week as U.S. Treasury 1-year yields rose near a seven-week high which made assets dominated in greenback more attractive to international investors. Treasury yields surged on lower than average demand at a $16 billion sale of U.S. 30-year bonds. This has boosted the dollar to nearly a 1-month high against the Japanese currency.

Looking ahead to this week, traders are advised to follow the leading releases from the Japanese economy. Main focus should be given to the Tertiary Industry Activity report and the All Industries Activity report as these are likely to impact the currency. Traders are also advised to follow developments regarding the European sovereign-debt crisis, as this is likely to affect yen trading as well.

Crude Oil – Crude Oil Erases Gains and Closes near $84.60 A Barrel

Crude oil began last week’s trading session with a rising trend, and reached as high as $88.60 a barrel. However by Thursday the trend has sharply reversed and crude fell about 400 pips, to reach as low as $84.60 a barrel.

Crude oil sharply fell close to the weekend on concerns that China may go for further monetary policy tightening after its inflation hit a two year high. Economists expect that China will hike rates, which is likely to dent demand for crude oil from the world’s second largest energy consumer. In addition, recent reports regarding the European sovereign-debt crisis have raised concerns that demand for energy in Europe will decline, adding to the bearish pressure on crude oil.

As for the following week, traders are advised to follow the leading economic updates from the U.S. and the euro-zone, as these are likely to have a large impact on crude oil prices. In addition, traders are advised to follow the U.S. Crude Oil Inventories report, which is scheduled for Wednesday, as this release usually has an instant impact on the market.

Technical News

EUR/USD

After correcting some of its losses, the pair looks on its way to see further bearishness. The pair’s next significant support level is placed at 1.3600. If the pair will fall below the support level, it could mark the beginning of yet another significant bearish move.

GBP/USD

The cable continues with the volatile activity, and remains trading between the 1.5950 and the 1.6180 range. Nevertheless, a bearish cross on the 4-hour chart’s Slow Stochastic suggests that a bearish move is impending, with a key-target level of 1.5950.

USD/JPY

The pair is in the midst of a bullish correction, and is currently testing the 83.00 level. If the pair will manage to breach though the resistant level it might reach as high as the 84.00 level. Otherwise, it might drop back towards the 81.75 level.

USD/CHF

There is a very distinct bullish channel formed on the 1-hour chart, as the pair is now floating in its upper section. In addition, as both the Slow Stochastic and the MACD on the daily chart provide bullish signals, it appears that the rising trend is likely to proceed today. Going long seems to be preferable.

The Wild Card

Gold

After peaking at $1,424 an ounce, gold has erased gains, and is now trading near the $1,370 level. Currently all the oscillators on the daily chart continues to point down, suggesting that the bearish move has more steam in it. This might be a good opportunity for forex trader to join the correction.

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

Forex Training and Analysis for the Week Ahead – 14-11-2010

Analysis of Weekly Charts

Due to the weekend rumour machine working over time re: the Irish Government’s money worries with the Euro, it is quite possible that there could be big gaps at the market open for all Euro related pairs. If it gaps below 1.3510 I will leave it alone and wait for the dust to settle during the London session.

Gbp/$

I am looking for a pullback to 1.6010 with a view to a long. Stop @ 1.5945 target 1.6195

I will do my usual method of taking 50% profit at 1.6100, stop to entry and balance to run, overall target 1.6200.

Half stake short 1.6225 stop at 1.6315 Target 1.6010, stop to entry after 100 pips and profit taking along the way.

Euro/$Whichever order (this or chf/$) fires first, cancel the other order. I said last week that: Last year the Euro tanked around this time. The Euro woes have not gone away & Irish problems could resurface this week. Even though price has closed above 1-4000 I have a “gut feeling” that this may fall down . It fell 500 pips!

Weekly the areas to consider for me are: Looking to short at 1.3990, stop at 1.4120 target 1.3655

Half stake Long at 1.3510 stop at 1.3435  Target 1.3810 This is riskier than I like BUT there are fibs, lots of emas support & resistance in there, so could hold. If it breaks this area then I will look for shorts during the week, a break and close below & then a pullback.

Chf/$I am only interested to short. 0.9990 is the area for me with my stop at 1.0075 & my initial target at 0.9855. I will scale out there & leave some balance to run, hoping to catch a bigger move to 0.9600 and below. There is a counter trend opportunity to long at 0.9610 area (but not for me).
$/YenOnly interested in shorting but it looks bullish at the moment! So I will halve my stake to 0.5%: Main area is 82.90 Stop at 84.20, stop to entry at 82.10 balance to run. Target 81.10
Aud/$Keep watching gold for clues, it pulled back last week. Price broke back down through 1.000 last week.I will be looking to short (half stake) at 0.9990 with my stop at 1.0175 target 0.9710

long at 0.9660 stop at 0.9585 Target 0.9990

Aud/jpyLong 80.10 Stop 79.40 Target 81.9584.20 short 78.6 fib and weekly 200 where I will put my stop above 85.00
Euro/GbpOnly interested to shorts. Order to Short at 0.8590 stop 0.8655 and target 0.8310.
Euro/YenLeaving this week due to correlation issues
CadOnly looking to short. Weekly 1.0200 Stop at 1.0275 target 1.0035

Counter trenders will look to long (not for me) at 1.000 area.

To View The Video Full Screen, click on the “box” bottom right hand corner of the screen.

Good luck with your trading this week.

http://forex-fxtrader.com

Trading Covered Calls For Compounding Monthly Income

By Owen Trimball

Covered Calls is a name for an option strategy that is flexible enough so that it can be adapted to different market conditions. It is important that you first decide what type of covered call strategy best fits your personal risk profile. Is your focus simply earning extra income on stocks you already own, or protecting the value of your shares? What you are about to read will show you how.

A Stock Owner Who Wants More Than Just Dividend Income

If this is you, then you’re a long term stock holder. You’ve probably purchased a stock some time ago and hopefully, it’s worth more today than when you bought it. Perhaps you have an IRA or superannuation fund and would like to see a greater return on investment? Or maybe you just believe this stock is a good long term investment and want more?

In that case, you need to be aware of a few things. When you sell call options, in return for the premium you receive, you’re exposing yourself to the risk of the stock being called away from you – i.e. you may have to sell it at the agreed ‘strike price’ for the options you have sold. If you’ve held the stock for a while, there may be capital gains tax implications to consider. You would want to ensure your strike price is greater than the price you originally bought the stock for, otherwise you could make a capital loss. So your decision to implement this covered call strategy will depend on where your stock is today, in relation to when you purchased it.

If today’s price is above your purchase price, then this covered call strategy could be a nice way to bring extra income over dividends. The best strategy here, would be to sell call options for the next month out. The reason for this, is that during the last 30 days of an option contract’s life, the “time value” in out-of-the-money options declines at an exponential rate. So if you sell call options at a strike price of say, $2.50 above the current market price and within the next month, the underlying stock either goes nowhere, or declines, you get to keep the option premium, or buy it back (to protect yourself from an unexpected price rise) within a few days of expiry, for next to nothing. You have a made a profit from selling high and buying back low, or letting it expire worthless, as the case may be.

You may not be able to do this every month if you want to keep your stock. It will depend on where the current market price is in relation to your original purchase price. You may be prepared to let the stock go, if called away, providing it is above your purchase price. That’s your decision. Either way, your one simple fundamental rule if you’re an investor and not a trader, is to wait until you can sell call options at a strike price above your original purchase price. That way, you can’t lose.

Another use of covered calls for the stock owner, is to provide a form of insurance over your shares. Let’s say you own 500 XYZ shares which you purchased for $15 a year ago and the current market price is now $20. You want to hedge your investment in the event of XYZ falling back to $15 or less. So you sell 5 “deep-in-the-money” near month call option contracts on XYZ at a strike price of $15 and receive $5.50 x 500 in premium = $2,750 credited to your account. At the same time, you purchase 5 near month “out-of-the-money” $15 put option contracts on the share and pay $0.25 x 500 = $125. Your net income is now $2,625 less brokerage.

Should the share price fall below $15 before expiry, your put options allow you to sell them for that price, thus protecting you from a catastrophic collapse due to some bad news. You have covered the cost of these put options with the extra $0.50 above the intrinsic value in the $5 ITM call options. If the share price is close to $15 near expiry date and you are nervous about further falls, you may wish to consider selling the next month out deep-in-the-money call options and purchasing OTM put options at the same strike price of say $12.50. Again, you should receive enough premium from the ‘deep ITM’ call options to cover the cost of the put options plus any potential further capital loss on falling share prices.

The downside of this covered call strategy, is that since you have written deep ITM call contracts, if the stock price is above $15 at expiry date, you are likely going to be called to sell your shares at $15. But you have already received the extra $5 in premium earlier so there is no loss. But if the current market value of the shares has risen to say $24 by now, you have foregone the potential gain on the shares you would have otherwise made. But it’s a great choice in a bear market or at what you believe to be the top of an uptrend.

About the Author

Owen has traded options for many years. Visit his popular site to discover the advantages of Option Trading and how a well chosen Covered Call Writing Strategy can provide a trading edge over the markets.

3 Consequences Of Choosing The Wrong Forex Broker

By James Woolley

Most traders are eager to open an account with a forex broker as soon as they have learnt all about forex trading. However this is not a decision to be taken lightly. Even if you only intend trading with small stakes, you should still spend a significant amount of time choosing the right forex broker.

The wrong choice of forex broker could end up costing you money. The reason for this is because for a start there are lots of brokers out there that are not fully regulated. Therefore what this means is that if you deposit money into your account, you may not necessarily see this money again, regardless of whether you generate any profits or not. This is pretty rare but can happen if you go with an unregulated company, particularly one that’s based overseas in an offshore location.

Regarding actually trading forex, another problem you may face concerns spreads. Ideally you want to choose a broker that offers spreads of no more than 2 or 3 points on the major currency pairs and certainly no more than 4. If you are a long-term trader then these larger spreads won’t affect your profits too much, but if you are a short-term trader you will find that these large spreads can really eat into your profits.

For instance let me demonstrate this point by comparing 2 different brokers. Company A has spreads of 2 points and Company B has spreads of 4 points for a particular pair. Now if you were to have 5 winning trades of 10 points each (before accounting for the spreads) in a given day, you would have made 40 points profit trading with Company A and just 30 points with Company B.

So it’s fairly obvious that this is a significant difference, and in the long run these larger spreads can have a huge impact on your overall profits.

Finally another consequence of choosing the wrong broker is that you may quickly come to the conclusion that they do not offer some of the features that you need to be a successful trader. For instance you may open an account with a broker only to find that they offer only the most basic of charting software or that they are very unstable during the busiest times of the day, for example.

So the message I want to get across is that you should spend a great deal of time researching the various different forex brokers before you commit yourself to one in particular. If you don’t you may find yourself becoming upset with your current broker and having to switch to another one soon afterwards.

About the Author

Click here for a full list of forex brokers and to read a complete review of Zecco Forex.

Why You Should Develop Your Own Currency Trading Style

By James Woolley

Currency trading is now becoming fairly mainstream thanks to modern technology. These days anyone who has an internet connection and at least a small amount of capital can start trading the markets. However it’s not as easy as it sounds, which is why you need to think about how you are going to make money.

Your main focus should initially be on finding out what kind of trading style suits you the best. Once you’ve established that, you can then start developing your own trading method which incorporates this trading style.

To expand on this point a little further, it’s important to note that every trader is different. Each person has their own way of trading, and every individual will also have their own unique mindsets, philosophies and attributes, which will all affect their trading in some way.

For instance a person with a very analytical mind will probably approach forex trading with the goal of generating profits from longer term positions. They may try and come up with a strategy that enables them to successfully trade the daily, weekly or monthly charts based either on technical analysis or fundamental analysis, because both are valid on these long term charts.

Conversely a trader with a low attention span and an eagerness to make money on a regular basis may turn to short-term trading. In which case they will probably be focused on trading the 1 minute, 5 minute or 15 minute charts. This style of trading is a lot harder to master, but it is still possible to generate profits trading this way.

I myself like to trade the 4 hour and daily charts and do pretty well on the whole. I have a system that generates a handful of trades each week, and this suits me fine because I can take my time finding decent set-ups, and because I work from home I have plenty of time to watch them slowly unwind until my profit targets are reached.

Anyway the point I want to make is that if you have ambitions to become a profitable forex trader, you should think about developing a trading strategy or two which suits your own trading style. Sometimes you only find out about yourself once you start trading, but even if this is the case at least then you have the knowledge and the experience to develop more suitable strategies in the future. Once you know which time frames you are most suited to, it’s then a lot easier to come up with a winning strategy.

About the Author

Click here for more information about a forex trading course that will teach you all the basics of forex trading, and to read a full Forex Nitty Gritty review.

Forex daily signals: 15-11-2010

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Pair

Position

“Limit” Order

“Stop Loss”

“Take Profit”

EUR/USD

Short

1.3657

1.3755

1.3569

GBP/USD

Short

0.8460

0.8519

0.8410

 

Provided by real-forex.

Forex daily analysis: 15-11-2010

GBP/USD

Daily graph: http://www.real-forex.com/charts-daily/November2010/GBP_DAILY_151110.JPG

The pair is still keeping its current uptrend. Although the resistance of 1.6107 was crossed during last week, corrected and closed above it the following session. There is no doubt the resistance changed into a support.

Currently, the pair is standing and waiting for the strengthening of the USD expressed in several other pairs. According to our analyses, no matter how stronger the USD is, the uptrend is not expected to stop. In order to catch the opportunity created for a “Long” transaction, we suggest waiting for the confirmation of today’s trend trough the identification of an increasing configuration on One –Hour graph.

Potential trade

One – Hour graph: http://www.real-forex.com/charts-daily/November2010/GBP_1H_151110.JPG

The required configuration should appear when the pair will cross the 1H resistance of 1.6183 upward. Following is an option of entry order between several different possibilities:

  • “Limit” order on “Long” position 10 pips above the mentioned resistance, meaning: 1.6193
  • “Stop Loss” order on the last dip occurred:  1.6123
  • 1St degree for a “Take Profit” on the following resistance at 1.6212

2nd degree of “Take Profit” on the resistance after: 1.6260

AUD/USD

Daily graph: http://www.real-forex.com/charts-daily/November2010/AUD_DAILY_151110.JPG

After an uptrend of two months, the pair started a decreasing process a few sessions ago. During the last two sessions, a relevant support at 1.0002 was crossed very clearly. Currently the pair is making its way to the following support at 0.9661.

Once that level will be reached, the way it will behave will determine the trend of several following sessions, and of course, the potential trades and market orders to enter:

1)      Test of the support èindication of close reversal, potential for “Long” trades.

2)      Stop on the level. It could be better waiting for a “Parking” of about a session and a half, and then entering a “Long” order.

3)      Clear and sharp breach of the support è It could be safer waiting for a small correction and after the identification of a decreasing configuration on 1H graph, go “Long” along with the new trend.

Have a profitable day!

Real – Forex team

 

Sponsored by: Real-Forex

Successful Traders Trade by the ‘3 to 4’ Rule

By Bob Moore

Whether trading the eMini’s, ForEx, Commodities, Metals and Oil, ETF’s, or Stocks, successful traders set up their trades by adhering to the ‘3 to 4’ Rule. The Rule gives traders the confidence they need to recognize and respond quickly to the best trading opportunities offered during any given day.

The power of the ‘3 to 4’ Rule is certainly its simplicity in helping traders gather and organize their thoughts and intelligence on an instrument they desire to trade. Upon implementing the ‘3 to 4’ Rule, they can quickly decide if the trading opportunity is supported from time-frames that may affect the outcome of their trade.

Simply stated, the ‘3 to 4’ Rule is an incremental assessment of the trading instrument’s ability to move in the desired direction within the following designated forward looking time-frames: 3-4 weeks, 3-4 days, 3-4 hours, 3-4 minutes. The trader then has the ability to review the information for completion of a trade within a 3-4 second time-interval.

Of importance to note is that assessments of the time-frames are forward looking. Since traders do not have a ‘crystal ball’ to foretell the future, the forward looking assessments must be derived from technical analysis of current indicators and patterns.

Traders can assess the first two forward looking time-frames (3-4 weeks and 3-4 days) before the trading day begins. Once the time-frames are assessed, the trader opens the day with the focus that matters most during the trading day. That is, a focus on the dynamics that will move the trading instrument during the time-interval of the trade.

Traders assess the next two time-frames (3-4 hours and 3-4 minutes) as the day unfolds. The assessments of the time-frames hold the final key to placing a successful intra-day trade.

When all of the forward-looking time-frames (3-4 weeks, 3-4 days, 3-4 hours, and 3-4 minutes) show support for the trade, the trader responds astutely to the ‘golden moment’-the 3-4 second window of opportunity-when the trader surmises that all the time-frames (longest to the shortest) align to support the trade.

To understand the ‘3 to 4’ Rule further, let’s take a look at the kind of methods a trader can use to assess each of the time-frames within the Rule.

3-4 Week Time-Frame. Considering information that pertains only to the next 3-4 weeks, the trader can weed out all the extraneous ‘noise’ he/she is bombarded with that may confuse the decision to trade. A trader’s perspective can become quite clear when considering only information that affects the instrument within the upcoming 3-4 week time-frame.

Effective methods to assess the 3-4 week time-frame are Elliott wave analysis on a 6-month chart pattern and monitoring the intermediate-term trend of the instrument.

3-4 Day Time-Frame. Being ‘in-tune’ to the natural swing of the market/trading instrument that may transpire within the next 3-4 days is essential for the trader to align his/her trade with prevailing direction and momentum.

Effective methods to assess the 3-4 day time-frame are the Taylor Trading Method 3-day cycle, Elliot Wave analysis on a 1-month chart pattern, and monitoring the short-term trend of the instrument.

3-4 Hour Time-Frame. Being ‘in-tune’ to the intra-day swing of the trading instrument with respect to direction, momentum, and duration is very beneficial for grasping the upcoming 3-4 hour time-interval. The trader can monitor the intra-day direction using a variety of tools.

Effective tools to monitor an instrument’s intra-day direction are the use of potential daily extreme values generated by the Taylor Trading Method and Average True Range (ATR) values for derivation of an instrument’s potential daily range.

In addition, monitoring the instrument’s price action to its Value Area can generate reliable signals with regard to changes in intra-day price direction. Considering where to place a trade with respect to the instrument’s Support/Resistance Levels and Pivot Points is also beneficial in successfully timing the trade.

3-4 Minute Time-Frame. Being ‘in-tune’ to the immediate direction and momentum of the instrument’s price gives the trader the advantage of ‘heading in the right direction’ within moments of placing the trade.

There are many useful tools to assess immediate direction of the instrument. Some tools to consider are monitoring the instrument’s price to its 20-day Moving Average and evaluating its 14-day Average Directional Index (ADX), 10-day Relative Strength Index (RSI) and 5/4-day Stochastics.

3-4 Second Time-Frame. The ‘3 to 4’ Rule guides the trader to systematically evaluate each trade so when the ‘golden moment’ presents itself, he/she can confidently respond within a 3-4 second time-interval. At that moment, the trader systematically confirms the appropriateness of the trade by reviewing and verifying its 3-4 week time-interval (1- second lapse), 3-4 day time-interval (2-second lapse) 3-4 hour time-interval (3-second lapse) and 3-4 minute time-interval (4 second lapse) and seizes the moment.

In summation, following the regimen of the ‘3 to 4’ Rule conditions the trader to be prepared for each and every trade. In today’s information-rich trading environment, thoughtful preparation is the successful trader’s advantage over those who blindly place a trade according to a few, predetermined signals that embrace a limited trading perspective.

About the Author

Bob Moore is with Taylor Trading Plus, an international data-exchange trading service using George Taylor’s Book Method, Value Area trading, Elliott Wave analysis, and Short-Term Trend analysis to identify trading entries/exits in select instruments of Futures, ForEx, Commodities, Metals and Oil, ETF’s, and Stocks. For more information pertaining to trading the ‘3 to 4’ Rule way, please go to: http://www.taylortradingplus.com.

Stories Of Successful Forex Traders – One You Must Read

By Cedric Welsch

Stories of successful Forex traders that are written by actual traders showcase a variety of different opinions. Since it doesn’t take that much to make up a story just to grab your attention, you’ll want to look deeper at the stories that you’re reading. You want inspiration, of course. Education is also part of the process.

You can’t pick up a book on Forex trading and then start trading the very next day. You need to follow the systems that educate you and give you the skill set to build your confidence. The one thing you can’t learn from a system is your own emotional responses to wins and losses.

Most systems start off using fake money. This helps you develop the skills. However, since you are using fake money, there’s little to no element of risk. Thus, you are only developing skills. Your transition to real money will add pressure.

Stories of successful Forex traders can give you a wide and full picture of how they responded to dealing with their own real cash. Since it changes so much emotionally for some people, this can help paint a more accurate picture while you’re still learning the trade. The stories that will provide the most benefit are those that delve deep into all aspects of trading, including the stress and the sweating that is typical of almost all traders.

This is a whole new world. The more you start to understand the world you’re participating in, and the more you develop unique skills, the more you’ll be able to flesh out the real stories and gain insight and knowledge from them.

The self discovery, and wins and the losses, and the ups and downs are all part of learning how to effectively earn a really good living from Forex trading. It all counts, even if it seems innocuous at the time. You’re going to have to lose more than once in order to grasp the full scope of the trading game.

Any time you move from one area of expertise to another, you will run into snags. Forex trading is so different than most of the careers that people leave to learn trading. This can be a huge transition and one that takes a lot of adjustment. When you consider just how many hours are placed into learning to be an expert in any given field, you can put the learning process into perspective. This is how you’ll start to recognize the real stories of successful Forex traders.

About the Author

Do you want to really make profits with forex? Make sure you get fresh updates ahead of everybody else here: Forex News

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