Keys for Forex Success

If you have not read my 5 powerful tips for forex trading article yet, be sure to do so. Today, I'll like to share with you 5 intermediate keys for forex success. These are information that people would easily pay hundreds of dollars to get so count yourself lucky for getting them free.#1 - Great exits are more important than good entriesJust remember, most traders are always focused on getting their entries right and I'm not denying that that is important but it's the exits that matter a lot more than the entries. Don't argue with me on that please. I've traded long enough to know my entries and exits. Where you exit will determine the fate of your trades. Period.#2 - Moving my stop to BE+1 as soon as feasibleThis is a bit of an idiosyncrasy for me. I never like seeing my positive trades turn into negative ones. When I say that, I mean trades that are really in the black already and not just up by 10 or 20 pips. Forex is much too volatile for that. Typically whenever trades are up by 30 pips or more, I'll move my stop loss to 1 pip more than break even. Essentially that means I've locked in at least 1 pip of profit. Let's move on ...#3 - Not reading too much into pivots on MondaysIf you rely on pivots for trading, be sure not to read too much into them on Mondays. They are the least reliable on the 1st trading day of the week. Needless to say, these pivots are based on information from last Friday's trading but because there's a gap over the weekends, things tend to be screwed. I'd say to use pivots only from Tuesday and onwards.#4 - Early European trends start around 0645GMTNeed I say more? Eastern Europeans will start the ball rolling around this time. Take note!#5 - Reversals of the above (if any) then tend to happen around 0730GMT~0815GMTListen ... you've just gotten some real gold ok? If there are any reversals from the european trend that starts around 0645GMT, it will tend to happen in a 45 minute period that starts from 0730GMT-0815GMT. Is that cool or what?

Revolutionary Forex Robot

Well, it is today! You have a unique chance to change the forex robot trading. They are launching the Pips Miner today! The PIPS MINER is available to the public! Finally! And you are one of those who have an opportunity to buy it and try it. And believe me, it works like a mining machine.

I have been beta testing it for a month now and even posted a few movie files to show the profitability of the robot. Since August 1st my pips miner opened 26 transactions, ALL OF THEM PROFITABLE. This month it made me $1909. It is not bad and it is real. I do not believe in robots that are 100% safe and bring a monthly profits of 200% or 300%. For me 20% - 30% is enough. You know why it is better? Because it’s realistic.

It is fairly easy to calculate that if you have $1000 on your forex account and you make a profit of 30% a month, after one month you will have $1300 and in just 3 months time you will more than double your account. And that’s not all - in six months you should quadruple your account. In one year your account should grow to over $23000. Is there any bank or investment fund that can compare to this? I don’t think so. 

How I did test the robot? Well, I have all three versions of Pips Miner, and I tried all of them. I did not use the Light Edition very often, only once in fact, but it made me a beautiful $350 in a single trade. Ok, it was a bit risky, because I went for a full lot, but it was worth trying. Generally when your account is not big, you are more keen on risking (provided you can afford it). That’s what I did and I don’t regret it. Also if you are able to, than try both LE and SE version at the same time. If you have only got one account, than run LE for the first three hours after London opening, and than swith to SE. If you, on the other hand want a more aggressive version, than launch EE. It is easy. I am sure Pips Miner can help you become wealthy. It is worth trying.

But that is not all! The vendors are promising that when you buy the Pips Miner SE, you will get a lot of freebies: first of all you will get the EE version for free. They will also send you a special Business Plan and you will be invited to a Trade Compatition with the following prizes: $1000, $500 and $250. And to participate in the competition you do not have to have a live account. A demo with any broker will do.

Never risk more than 2%" on any forex trade

It's an advice you will hear from many professional traders. Trust me, they know what they are talking about. Why is it so important to follow this rule? Successful forex traders have high winning ratios(70% or more), so why don't they risk more? Maybe 5%!Let's examine the roulette game. There's a 50/50 chance for either black or red. So you may think that out of 10 events you could expect 5 red and 5 black. You couldn't be wronger. I've personally seen 24 red numbers in a row. I couldn't believe my eyes but the casino employees weren't surprised at all and when i talked to one of them he told me he saw streaks like this many times and that he remembers a streak that went over 35. So my point is that even with a high winning ratio system you can still experience a large drawdown on your account if you don't respect the "2% rule".Loosing streaks happen to successful forex traders too, you can't avoid that, the difference between you and them is that they don't get emotional when this happens because they never risk more than 2%. Not getting emotional helps them steak to their trading rules and survive the loosing streak.I guarantee you that if you follow this rule you will improove your trading results. Not risking your shirt on a trade keeps you cool and concentrated on the market making the right decisions.PS1: Don't lie to yourself by bending the rule thinking you could trade multiple pairs at the same time. If you are in a long EUR/USD trade risking 2% that's it. You can't buy GBP/USD and pretend it's another trade. EUR/USD and GBP/USD have a 95% correlation ratio so it's like risking 4% on EUR/USD.PS2: Never ever violate this rule even if you are 100% certain that you have a great trade that you couldn't possible loose in a million years. As John Maynard Keynes used to say: "the market can stay irrational far longer that you can remain solvent” Forex traders are not gamblers so don't put all your eggs in one basket!

Trading in the Forex Market is Easy

I'm going to show you how trading in the forex market is easy. I've been part of the massive growth in this market, all due to the growth of the internet. This market is easy to learn and actually quite simple to trade, but you have to watch yourself. It's easy as in driving a car easy, but if you're new, a car can be quite intimidating and hard to understand. Trading is a process and it takes time to get good at it. A lot of people rush in and throw all their money into the market, only to find they lose it all. Protecting money is just as important as learning to earn it. I'm going to share with you some of things I've picked up on from my years of trading.Trading in the forex market should be done with the utmost care for your money. The last thing you want to do is put your savings out there to find it gone in an hour. Bad trades are going to happen because they're just a part of life. You can't avoid them completely, so you need to learn how to limit the amount of damage they can do. This is why it is important to cut your losses. If you have a bad trade bleeding you of your money, let it go. It'll help you in the long run.It's also important to have a degree of confidence or pretend confidence if you're not there yet. You obviously can't immediately dump a trade 15 seconds after you make it because it went down slightly. You need to allow your trades to perform, which requires a reasonable amount of time. Have the confidence to do that and after such a time, than drop it.For years now we have been using our successful strategy to place trades day in and day out. We have mastered a system that scalps the market whenever there is any price movement, and its 100% programmed and ready to begin trading for you.