6 Skills Every Trader Should Have Going Into Trading

Whether day trading, scalping, or investing, there are fundamental skills that each trader should master. Skill-building activities will help you sharpen your ability to make money and cash in on critical market movements.

1. Don't Be a Perfectionist

Consistent profits are achieved from winning more than you lose - not winning every single trade. There are plenty of professional traders who generate profits by winning just 10% of their trades by maximizing gains and minimizing their losses.

2. Stick to a Trading Plan

Developing a trading plan is extremely important. Day trading around your own set plan for each position will produce consistent profits. A trading plan planner should be your best friend when developing your own trading style. The key is sticking to what you've written down on paper.

3. Know the Odds

You should know the payoff odds for each trade that you take. Scalping produces large gains from small movements with higher risk than swing trading. Your trading plan should include a way to regulate how much capital you're willing to risk on each position - but you should never risk more than 2% of your total account value.

4. Complete Trading Plan

The skill to plan is the most important. A complete trading plan should be more than just "trade everyday from 9-3." A plan should include how to act in upswings and downswings and how to protect your capital. In many cases, a thin plan is worse than no plan at all. Stick to your guidelines to get the most out of each trade.

5. Ability to Keep Emotions Under Control

It's hard not to be emotional with hundreds or thousands of dollars on the line each moment of the day. Think like you would in a survival scenario; you've got to be calm and keep your head above the water. Many traders slip from their plan and take positions to cover losses only to lose more money. Over time, a complete trading plan will produce consistent profits, but only if you believe in it.

6. Know How the Market Responds

After getting some experience, you should be able to know how the market responds to certain events before they happen. If there was a negative Non-farm payroll statistic last month, and the Dow lost 60 points, it would be smart to consider that the same would happen again. History does repeat itself in the financial markets.

About the Author:
Leroy Rushing is an active, professional day trader; trading coach; and author. He is the Founder and CEO of Trading EveryDay, a provider of educational trading products and services that are available worldwide. Trading EveryDay has complimentary/FREE products, a Tools of the Trade eBook and a Trading Room Report, that are downloadable for your convenience.

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Emini Trading Systems - Albert Einstein and Emini Trading Systems

Albert Einstein was born in 1879 in a small German town of Ulm. He died in 1955 in Princeton, a small town in New Jersey, USA. He was a theoretical physicist, first and foremost, although it is not so unusual these days to see questions "what would Einstein do?" related to things that have little to nothing to do not only with theoretical physics but with science in general.

Could thus Einstein offer any insight into trading emini futures markets? Such as the futures for the S&P 500 index?

The full size contract for this financial market was established in 1982, its emini version, and the first emini market at all, appeared on the financial scene in 1997, in both cases a few decades after the death of the fellow in question. It seems therefore rather obvious to assume that Einstein would have absolutely nothing to say about trading emini markets, or emini systems, for that matter.

But this would not be entirely true. In fact, we believe, that this would be pretty wrong. For while Einstein was a physicist first and foremost throughout most of his active professional life, he was also a wise man and his profound statements about scientific matters can be applied to things outside science as well. Or, at the very least, some clear parallels to Einstein's pronouncements on science can be found in the world of emini trading systems.

Let us use two rather famous Einstein quotes to prove our assertion.

The first of these quotes is: "I want to know God's thoughts... the rest are details." When designing emini trading systems, or systems for other markets, you want to know what makes these markets tick, what drives their dynamics, what determines their behavior. In other words, you want to know Mr. Market's thoughts for it is he that rules them. Knowing his thoughts is like knowing God's thoughts in the matters of science. He is the utmost authority of the markets. He, Mr. Market, a mythical figure that even the least religious of traders believe in. You want to know his thoughts to design systems that the market forces respect, and vice versa, that respect these forces, that properly reflect these markets' nature and their intraday or longer term behavior, depending on the system primary time frame. You want to know what's essential as opposed to what's spurious and accidental. If you approach designing your emini systems this way, you stand a very good chance to come up with robust and profitable ideas.

Another famous Einstein quote, that perfectly applies to designing emini trading systems, is: "Things should be made as simple as possible, but not any simpler." There are many simple systems out there. Such as, say, the one based on trading the breakout of the first hour range, that for reasons inexplicable to this author, retails in the vicinity of $1000. Good luck making money with it, though. It may turn out to be a painful experience. The reason this system is not particularly good is because it is too simple. Systems like that are fine for educational purposes, but using them for trading in their crudest form is not very advisable. A good, sound, robust emini system needs to employ filters that would limit circumstances that are less likely to lead to a profitable outcome. Not all breakouts of the first our range, to use our example again, are created equal. Systems that are too simple usually do not employ any filters. In fact, some of them may even not be amenable to imposing filters that could improve them.

As you can see from these two examples, Einstein would certainly have quite a bit to say about how to design a profitable, robust emini trading system or other trading systems, for that matter.

If you would like to experience trading an emini futures system designed using ideas Einstein would approve of, please visit this page: http://www.eminimethods.com/system_g4.html

Waldemar Puszkarz, Ph.D., is a web veteran with 15 years of web surfing under his belt. By training, he is a theoretical physicist, but his interests are much broader than science and include trading financial markets, sports betting, poker, and researching online business opportunities. He is also an avid book reader and sports afficionado. Currently he is making his living mostly as a day trader. He has been in the trading trenches for almost a decade during which he has traded a variety of financial instruments. He is the owner and webmaster of Eminimethods.com (http://www.eminimethods.com) which provides free common sense trading education and simple trading systems for e-mini and stock markets as well as reviews of honest online business opportunities in Meet HOBO section of his site.

AP - World stock markets railled again Friday as confidence remained buoyed by positive U.S. economic data, hopes of further stimulus measures from Japan and China and an upbeat comments from Bank of America's CEO.

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Spot Currency Trading - A Brief Guide to Forex

In today's world, Foreign Exchange Trading which is also known as Forex has evolved into a major online industry. When done correctly, trading can be very profitable for not just the big companies but the individual working from home.

This is one of the good things about the internet as it has levelled the playing field between big companies and small traders.

As the biggest financial market, the FX (Forex) is the best market to make trades. Everyday, trades to the value of over 2 trillion dollars take place. If you compare that to another big market known as the New York Stock Exchange, the value of trades on that market is 25 billion dollars every day. This is all big bucks stuff which attract many large multi national companies, banks and governments.

Money is traded on the Forex and usually involves a simultaneous flow of buying and selling of different currencies. These currencies are handled by brokers.

If you are active in purchasing currency, what happens is that you actually invest in the economy of a certain country. For instance, if you by UK pounds, this will mean that you are really buying a piece of the UK economy. The current state of that countries economy is what sets the value for the currency and any fluctuations.

In the beginning, the idea of being able to trade in the Forex was meant to be for the large banks and companies. It was not intended for the likes of the little people like me. You needed many millions to get involved and that was beyond the scope of many normal people.

But times have now changed and in today's world, just about anyone with a little money can trade through a broker. All the trading can be done through the internet. All that is required is that you sign up with a reputable trading firm and moniter the market online.

Trade continues 24 hours a day through the three main trading centers in the United Kingdom, Japan and USA.

There are a number of benefits when it comes to trading online and for most cases, it is usually a very good way to trade. As long as you have a computer with good internet access, you can trade with the best of them.

With a little research and due diligence, there is no reason why you can not take part in the Forex and trade online.

There is a lot of trading software, trading courses and trading systems, all claiming to be the best. On our website, we have independent reports of the better ones. See if we can help you over at Stock Market Software.

Reuters - Freddie Mac, one of the two main U.S. mortgage companies that the U.S. government is depending on to help stabilize the housing market, said on Wednesday it needs $30.8 billion from the Treasury to survive after a massive fourth-quarter loss.

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Day Trading Charts, Are They Any Good?

The mechanics of the market are constantly changing and this has resulted in people relying much more heavily on various algorithms to execute trades. The investor can still use intraday stock charts to great advantage but you will also need some foresight when it comes to your trading and there are several ways to acquire the foresight you need.

It is important to try to use a rather longer time frame on your chart if you are to understand the big picture, let me explain:

It is important to try to use a longer term time frame on your day trading chart if you intend to understand the big picture. Therefore if you trade using the ten minute charts then it pays to look at the hourly and even daily charts so you can get more of an idea on what the market is doing. For those of you who are scalpers, that is people who take trades with the idea of only making 1% or less profit the larger time frame charts will enable you to remove those of no interest.

The day trading chart can be used to show the market internals such as the TIKI, TRIN, TICK, fair value and many other market internals are often very useful to your trading. Personally I try to add at least two market internals to my parameters list when I am back testing one of my intraday strategies.

Most good day trading software or day trading charts will allow the insertion of technical indicators (such as RSI and morning averages) on the market internals charts you are using. You may wish to test out this feature of your day trading software to determine if this function will be of use to you or
not depending on your day trading styles.

Above all make sure you do your homework at the end of every day so you can determine which symbols are likely to go up the next day and which are likely to go down, of course there are no guarantees in this market just like any other but the use of a good day trading chart will enable you to determine which direction the market is most likely to go in the next day so you can focus on that for your next trading session.

Hopefully this knowledge will help you become a better day trader and help you avoid the many pitfalls out there.

Get your Momentum Stock Trading System and sign up for my free weekly online trading system newsletter here at: http://www.stressfreetrading.com

Reuters - Where, oh where, did AIG's bailout billions go? That question may reverberate even louder through the halls of government in the week ahead now that a partial list of beneficiaries has been published.

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Currency Trading Made Easy And Effective

I'm going to share with you currency trading made easy and effective. This is a great business to get into. With a few trillion dollars in trades a day, that makes it the largest market in the world. There has been an opportunity for the small traders to now compete along side the large traders and make a profit.

You're going to need a daily plan to get this right. The worst thing you can do is get up in the morning, head to the computer and figure out what you're going to do to make a buck. That's just a waste of time. You need to have a step by step plan. You need to follow that step by step plan. After you try it for a little bit, you can evaluate its effectiveness. When you force yourself to think of a new plan and strategy each day, you're just wasting your energy on that. You miss the fact that you need energy to do the work required of you. Be a good and effective trader; have a plan.

Everyday on the news there is economic and political news. It's an important task for you to look at this before you start trading to make sure there isn't something being released that could be detrimental to the price of currency. Economic news like GDP or unemployment rates will have an affect on currency prices. The more alarming the news, the more volatile the currency market will be. Also watch out for political policies that have changes to economic policy; like taxes, regulations, etc.

Lastly, you'll want to get yourself a good software package for trading forex. I recommend Forex Killer. It has a great automated feature that can allow the software to handle the trades. It also can find and identify trends that you could make a profit on.

The automated software of Forex Killer will give you an immediate edge in the market. Make trades that work for your profit line. For more information on the Forex Killer software, check out Forex Charting Software.

AP - A Republican lawmaker is accusing the former chief executive of mortgage finance company Fannie Mae of being dishonest in testimony before Congress about discounts he received on his home loan.

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Emini Trading - Margin in Emini Futures

If you are familiar with the margin for stock trading, you know that this is the amount the broker allows you to borrow using your funds as a collateral. Usually, this is 100%, meaning if you hold $10,000 in your account, you can control $20,000 of stock. In some situations, that only pros or semi-pros are allowed to take advantage of, your margin can be greater.

While the margin for trading in stocks is simply your borrowing power for stocks, the margin on futures can be defined as a minimum cash requirement for your futures position. Similar to a performance bond or a good faith deposit, the margin on futures is set by the exchanges based on the corresponding market volatility and can be changed at anytime if this volatility changes. Generally, the margin rates range between 2-15 percent of the value of the futures contract, with most contracts having their margin set around the 5 percent.

Individual brokers can reduce the value of this margin for intraday positions, that is for positions open and close on the same day. Because of this, the margin varies, even widely, from one broker to another, being never higher than the value established by the exchanges that takes into account all kinds of positions, including those held overnight, for which the margin is bound to be higher to compensate for the higher volatility during the times when the trading is not very active.

There are two types of margins in futures: the initial margin and the maintenance margin. The former is the required amount of funds that must be deposited by you before your positions are initiated. The latter is the minimum amount of cash/buying power required in order to keep your position open.

While the initial margin requirements must be met at the time of the trade, the maintenance margin will only become a factor if the account value is decreasing. In the event that the account value falls below the maintenance margin requirement, you will receive a margin call for funds. In this case, you will need to add enough cash to satisfy the initial margin requirement of the position.

In order to illustrate the difference between the initial and the maintenance margin, let us consider the following example.

Suppose you had $5,000 in your futures trading account. You wish to open an intraday position in the E-mini S&P. In order to place this trade, you would need at least $2,250.00 in the account (if you were a customer with the Interactive Brokers, to keep this example realistic), which is the initial margin of one E-mini S&P futures contract set by this broker. Because your account balance exceeds the amount of the initial margin, you would be able to open your position and you would be able to purchase not just one, but even two futures contracts. Suppose though that you purchased only one, to keep this example simple.

Suppose now that after this purchase, the market moved against you causing the account value to fall to $1,700, however unlikely this may be. Since the account value is now less than the maintenance margin of $1,800, you would receive a margin call for $100, the difference between the initial margin and the account value.

You can find more articles of this nature in a section dedicated to the basics of emini futures at this author's site: http://www.eminimethods.com/emini_basics.html

Waldemar Puszkarz, Ph.D., is a web veteran with 15 years of web surfing under his belt. By training, he is a theoretical physicist, but his interests are much broader than science and include trading financial markets, sports betting, poker, and researching online business opportunities. He is also an avid book reader and sports afficionado. Currently he is making his living mostly as a day trader. He has been in the trading trenches for almost a decade during which he has traded a variety of financial instruments. He is the owner and webmaster of Eminimethods.com (http://www.eminimethods.com) which provides free common sense trading education and simple trading systems for e-mini and stock markets as well as reviews of honest online business opportunities in Meet HOBO section of his site.

AFP - Troubled US mortgage finance giant Fannie Mae said Thursday it lost almost 60 billion dollars last year and expected to suffer more losses in 2009, and asked for a further 15.2 billion dollars in government aid.

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Automated Currency Trading Ideas

I wanted to share with you some automated currency trading ideas. This is a great market to get into, with a lot of money to be made. There is over three trillion dollars a day moving around, making this the largest market in the world. A lot of people come to make a quick buck, but end up losing all their money. Knowing how to properly trade in this market is important. It is also important to know how to treat this like a business, that can be automated and that you can get away from.

Robert Kiyosaki really introduced me to the idea of "the exit". We don't start in this adventure into the forex market to add another 20hrs a week to our already busy schedule. The idea of making big money than cashing out is a fallacy. First, it might never come. The second reason, you'll probably tell yourself that it isn't enough and if you just stick around a little longer it will be the "perfect time". This isn't a solution because it's just not practical. What you need is to develop an automated currency trading system that allows you earn "cash flow". Think about it. You don't need a million dollars. You can automate an income of $5000/mth, that means you can comfortably travel the world for the rest of your life. You can start retirement right away.

The perfect automation tool is software. In this market, we trade an detailed analysis, which is just a fancy word for math. Computers exist to do tedious math work, so obviously having software to look at currency data is in our best interest.

I use the 10 Minute Forex Wealth Builder. I like it because it is automated and only takes around 10 minutes to actually setup. This tool works for both beginners and experts.

Learn more at the 10 Minute Forex Wealth Builder Review.

Reuters - There was a time when a tumble below $10 in the share price of a company in the Dow Jones industrial average (.DJI) meant ignominy.

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Currency Trading Expert Tips

I'm here to give you currency trading expert tips that should help become a better trader. This business isn't all that hard, you just need apply simple principles on a daily basis. When you start doing that, you'll start to have consistent profits.

• Your Profit Margin: It seems obvious, but most people really aren't concerned about profit margins. They more concerned about "winning" with a trade. I suppose winning shows that you are doing good, but unfortunately, you can be a profitable trader even if you make 2 trades that lose for every 1 trade that is profitable. It's all about the margins. You need to look at the risk, reward and how much your broker gets. If you have a really tiny margin, like 2% increase in the currency on a $500 trade. That's only $10 profit. You have to also take into consideration that your broker will probably take a 1% cute, meaning your real profit is only 1% or $5. You "won" this trade, but was it even worth the time and the risk? No! You need to have better margins. These margins are a waste of time, so you get more profit, less of that profit goes to your broker and you're actually getting paid for your time.

• The Morning News: This is about the easiest task a trader has. It requires no thinking, no analysis, just sit down in front of the television and watch the morning news. There is important news that comes out that you need to watch. Economic news, especially about the Federal Reserve, will greatly effect the direction of a currency. Pay attention to this.

• Automated Software: You're going to need an automated piece of software like Forex Killer for a few reasons. It allows you to automate trading. For me, I can't sit around the computer 24hrs a day, I have things that need to be done. But I can rest easy knowing that I have software that will automatically act on behalf making a profitable trade or preventing a huge loss. It also has the ability to look through currency data and determine if there are any profitable trends for me to exploit. It is an excellent tool to have.

For more information on the Forex Killer software, check out Forex Charting Software.

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Trading Forex and the Theory of Relativity!

Albert Einstein would have loved the forex market. It's the one market where you are trading on relativity!

When you "buy" a currency on the foreign exchange you aren't really "buying" anything. What you are doing is opening a contract in one currencies value relative to another.

The contracts on the forex are quoted in the value of one currency (the "quote") relative to another (the "base").
For example, the most actively traded currency pair is the Euro relative to the U.S. Dollar. The pair is listed as EUR/USD. In this case, the Euro is the quote currency. The U.S. Dollar is the base. So, you could look at EUR/USD quoted at 1.5929 as the Euro trading at 1.5929 US Dollars or it takes 1.5929 USD dollars to buy one Euro.

Most traders watch the economic fundamentals of the country underpinning each currency. They then look for the relative strengthening or weakening of one economy versus another. When they see one countries economy becoming stronger while another's becoming weaker, they see the trade develop in favor of the stronger countries currency.

Here's an example. The Australian economy has been very strong, recently because it's economy is very much linked to the price of commodities - it is the largest exporter of gold. The demand for gold has been, and continues to be, on the increase by Chinese industry. India, too, is demanding more of the precious metal as their rising middle class is better able to afford the gold jewelry that Indian women have always desired. This has been a boon well for the Australian dollar for many reasons but one is that the Royal Bank of Australia - the Aussie equivalent of our Federal Reserve - has had to raise interest rates to keep the Australian economy from overheating and kicking off inflation.

At the same time that Australia has been raising their overnight rate, our Federal Reserve has been lowering ours. Therefore, you would expect to see a relatively stronger Australian Dollar with respect to the U.S. Dollar.

So, this is the trade. If you open a contract on the AUD/USD, you would do so in favor of the AUD. The other advantage of taking this position and another reason to expect increasing strength in favor of it is that you are paid interest every day that you hold the position. Yes, the interest differential between the two currencies gets deposited into your account every day that the market is opened!

A glance at the 5-year chart of the AUD/USD shows the trend.

This is the theory of relativity at work!

Learn Forex Direct - Generating cash flow by trading or investing in the forex market can guarantee a wealthy retirement!

Kevin Mastaw is a business owner and entrepreneur living in Nashville. He left the corporate world, where he was a chemical engineer, in 2005 and now studies online marketing, full time and helps people develop INCOME SECURITY.

You can contact Kevin at 414-378-0950 or visit his site at http://www.kjmastaw.com .

AP - Keeping the economy front and center, President Barack Obama heads west this week to sign the $787 billion stimulus bill and tackle the home mortgage foreclosure crisis. The direct appeals for public support follow scant GOP backing in Congress for his agenda and increasing partisan bickering.

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A Good Forex Trading Course is a Must For All Beginners

It is no surprise to find that a growing number of people these days are keen to participate in the world's largest and most liquid financial market and a market which is essentially open for trading twenty-four hours a day. Many people have become very rich through trading in the forex market and it has allowed a lot of individuals to replace their day jobs and enjoy the comfort of working from home a few hours a week. It has also made quite a few millionaires!

Of course there are two sides to every coin and just as some people have found a very comfortable living with forex trading, there are also many people who have lost the shirt off their back. So, what separates the two? Well, there are many answers to this question but without doubt top of the list is good forex training.

If you enter the world of live forex trading without the necessary knowledge and skill then you are almost guaranteed to lose money. However, if you take the time to learn what you are doing before you start trading with your own hard earned money then you will go a very long way towards minimizing your risks and maximizing your earnings potential.

A good forex trading course will teach you everything you need to know about the various different tools available to you in trading, including the trading platforms available in the forex market and analysis and charting software. Most importantly, it will also tell you when to enter the market and when to exit it. In other words, when to buy and when to sell.

There are many different forex trading courses available today and you will need to pick the course which best suits you and your learning style. You could for example choose a crash course which will cover the basics in a very short space of time at one end of the scale or a full-time offline training course where you can learn first-hand from an experienced trader who will not only take you through all the basics, but will also cover many advanced aspects of trading and even sit down with you and take you by the hand through a series of paper trades.

For most people though a popular choice is an online training course which allows you to learn at your own pace using the medium which you will also be using for trading. Online trading courses vary widely from short introductory courses to extended in-depth training and again you can choose whichever suits you.

Yet another excellent, but under utilized, form of training is to apprentice yourself to a seasoned trader and mentor. For many people this represents the ultimate in training and, as with most things in life, there is no better way to learn than by looking over the shoulder of an expert and have that expert monitor and advise you as you practice the skills he is teaching. Of course it is not always easy to find the right mentor, but the time spent tracking down a suitable teacher will be well worth it.

Whatever form of training you choose the secret is take at least some training before you start trading and then to trade slowly and with relatively small sums of money until you have built up sufficient knowledge and developed your skills to a reasonably high level.

LearningForexTradingOnline.com is designed to assist beginners to learn forex and includes a growing base of information including a large number of current forex articles

Reuters - The Obama administration is hammering out a program to subsidize mortgages in a new front to fight the credit crisis, sources familiar with the plan told Reuters on Thursday, firing financial markets.

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5 Forex Trading Myths

1 - If I trade stocks successfully, I will make money in Forex

Despite the fact you are successful in the stock market, this does not imply that you'll be successful in the Forex market. There are a lot of differences between the stock market and the Forex market. First of all, the Forex market is open 24 hours a day. This requires a lot more complexity and work. As you know, you cannot be in front of your computer 24 hours a day. You'll have to figure out the best time periods to trade so that you can be successful.

Also, you need volatility. And here's another problem with the Forex market. There are periods of very high volatility and very low volatility. This difference is much higher in this market than on stocks.

You may think that as the Forex market is open 24 hours a day, you can day trade whenever you want. You just need to turn on your computer and there it is... a trade just for you. Well, that's not even close to the reality. This may happen from time to time but it's not frequent. You need to develop a good strategy.

The last point I need to focus is a real important one. If you want to trade Forex you need to find a good broker. Well, this isn't a simple task as in the stock market because this market is not regulated. This means that there are a lot of brokers that don't act in the best interest of their clients. Be ready to spend quite some time finding a solid broker that fits your needs.

2 - If the Forex market is open 24 hours a day, I can make a profit whenever I want

Well, not quite... As you know, to make a trade, a trader needs volatility. The volatility can appear anywhere within the 24 hours. As you cannot be in front of your computer all the time, this makes your work harder.

First of all, you need to figure out the best time to trade (where volatility usually appears) and you also need to adjust your strategy to this period.

3 - I don't have to pay commissions in the Forex market

You don't have to pay commissions but you have to pay the spread. The spread is the difference between the bid and the ask of the currency pair you want to trade.

Sometimes, these fees are not so cheap. If you plan to be day trading, you'll see a major part of your profits to be left for the broker.

4 - In order to be profitable in the Forex market, I need to predict what will happen

As Forex is a complex market, you need to constantly learn and evolve as a trader. This does not mean you have to predict; this means you have to react and react fast.

As a trader, you need to access charts but also need to access to all the information you can. The more information you have, the better your response will be when something, good or bad, happens in the market.

5 - I'll be more successful if I use a more complex strategy

This is clearly a myth. Simple things work better in life as well in Forex. If when you're defining your strategy you use 3 indicators, I bet most of the times there will be one that goes against the others.

Try do define a good but also a simple strategy.

John Baker is an editor at http://www.ForexTopTen.com By visiting the website http://www.forextopten.com you can read forex traders reviews about forex trading systems, trading courses, ebooks, softwares and brokers.

Reuters - General Motors Corp's product chief and Vice Chairman Bob Lutz will retire at the end of the year, bringing to a close a legendary automotive career that spanned 46 years and included top jobs at all three Detroit automakers.

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The Number One Forex Trading Strategy

The Number One Forex Trading Strategy is .. actually a combination of strategies. The truth is that there a number of ways to really do well on a consistent basis in the Forex market. instead of loading you up with some non-existent "holy grail," I would rather provide you with real, proven and reliable Forex trading strategy. Here is the plan:

First, get your trading head on straight. You would be shocked at how many traders come to the currency market with all sorts of distractions and issues in their heads. How on earth can you make a wise decision in this frame of mind. It is actually, a good idea to review some monetary current events and data along with some basic trading principles about a half-hour prior to actually trading. I know this sounds monotonous but trust me, it is what the winners do.

Second, use your technical analysis tools properly. Trade on the Forex market with proven technical indicators. I like to start off with the 200 day moving average. This is the standard by which the "big money" judges the worthiness or timeliness of currencies for trading against another. It is obviously not the end- all- be- all but it is a great place to start. I then move on to the indicators that show me if a currency is severely over bought or over sold. If this is the case and the currency lines up with the 200 day moving average then I start to become very interested. Here is an example: The dollar is trading above the 200 day moving average. It is severely over sold. Now I am very interested in confirming this. How?

Third, use a reliable Forex trading software program with proven results and a positive reputation. I need clear and reliable signals from my software program and if these line up with the aforementioned indicators than I am feeling confident and ready to gain some significant pips. By the way, I have provided a link below for an objective review of the three leading software programs, I think it will help.

This method I just laid out is not pie-in-the-sky but it is proven and will more than likely make a winner out of you on the Forex market.

Get an Objective Review of the Most Popular Forex Trading Software Programs. Number One Forex Trading Strategy is the place to visit.

See What Forex Trading Software REALLY Works! forex-trading-system-review.com is the place to visit.

Reuters - General Electric Co will evaluate its planned second-half dividend in light of the slumping global economy, the U.S. conglomerate said on Friday, leaving open the possibility of a cut in the payout.

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Pivot Point Trading- 7 Guidelines For Success

What do we mean by pivot point trading? It simply means that Forex traders take into account pivot points calculated from the previous day's trading range and use them as reference points to identify support and resistance levels.

Taking the high, low, close and open values of the previous day's price action, strategic levels can be identified which may or may not have an influence on price action. Pivot point trading puts emphasis on these levels, and uses them to guide entry and exit points for trades.

However, as with any technical indicator, there are limitations and pivot point trading, to be high probability, needs to stay within certain parameters. The following 7 guidelines can help pivot point trading be more profitable:

No. 1

Pivot points should not be used as a standalone indicator. Do not enter or exit trades purely on the basis of pivot points. Use them in conjunction with other indicators such as candle patterns, Fibonacci levels, MACD, and moving averages to identify and confirm key levels of support and resistance which may provide trading opportunities.

No. 2

While some traders living in various parts of the world may calculate their pivot points according to the time zone in which they live, a fairly safe standard for calculating the levels of pivot point trading is to use GMT (Greenwich Meantime).

Midnight GMT is a very quiet time in the market with very little volatility and provides a good opportunity to calculate more accurate pivot levels going from midnight GMT to midnight GMT the following day.

No. 3

It is good to understand what is going on behind the scenes when it comes to pivot point trading. Rather than just staring at candles on a chart, understand what they actually represent.

Thousands of traders around the world, some working for large institutions and handling millions or even billions of dollars worth of currency, are taking positions according to previously established highs and lows in the market.

Pivot points draw attention to these key levels which will often be strongly defended by traders who have a lot at stake. This is the reason pivot point trading can be so successful, once a trader understands underlying reasons for price action.

No. 4

It is good to calculate mid levels in addition to the S1, S2, R1, and R2 pivot levels. Sometimes there is a significant gap between these levels and calculating a mid point gives another point of reference. Price will often be seen respecting M1, M2, M3, or M4.

To calculate mid levels, simply subtract the level below from the level above and divide by 2. (see the resource box for a free pivot point calculator)

No. 5

Pivot point trading can be a useful strategy for entering and exiting trades at the right time. A pivot point can provide a key level of support or resistance where price is likely to bounce for a 10-20 pip profit.

Or in the case of a trend, price may retrace to a pivot level before continuing its run. The retracement point at the pivot level would be a good place to put an entry order to be taken in when price comes back to retest at the pivot level.

No. 6

The Euro - US dollar pair often puts in a daily average of between 75 and 100 pips. Watch for specific behavior around the time of the London market open. Price will often come back to test a level which is a pivot point and form a distinctive candle pattern such as tweezers, or a hanging man, and then reverse and go on its 75-100 pip run for the day.

If price comes back to the M1 level check your other indicators to see if they confirm this would be a good level to go long. Likewise, if price, just around London open, tests the M4 level, check your other indicators to see if this would be a good place to go short. You may be able to get a slice of the 75-100 pip run for the day.

No. 7

Pivot point trading helps mentally in establishing the buy zone and the sell zone. Traditionally, anything above the Central Pivot Point is a Sell area, and everything below the Central Pivot Point is a Buy area.

If you go contrary to that, make sure you double check your analysis and have very good reasons for doing otherwise.

Pivot point trading is just one of an arsenal of weapons available to Forex market participants. However, it must be stated that many successful traders use just a handful of tools that become their favorites. After all, too many indicators can lead to decision paralysis.

For many traders, pivot points are a key element in their overall trading strategy. Use the 7 guidelines above to use them safely and responsibly.

For a free pivot point calculator, Fibonacci calculator and the best free economic calendars click here:

http://www.vitalstop.com/Forex/tools.html

Click here to learn how to use another indicator, the 200 EMA, in a simple yet powerful way:

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Do you know the important lesson Mohammed Ali teaches us about Forex trading? Read it here:

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Reuters - It might be possible to modify mark-to-market accounting rules for U.S. banks facing steep writedowns of troubled assets without abandoning the underlying accounting standard, a senior Senate Democrat said.

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Where Can I Find Good Penny Stocks to Invest In?

I had always been impressed with the tales I had heard about amateur investors somehow being able to pick the right stocks to invest in and grow their portfolios. In fact I was sick of hearing about friends picking killer stocks that rose 20% or 30% overnight making them huge amounts of profit.

This was a real problem for me until I discovered that their success was not really about their due diligence, any special research techniques or even the newspapers they were reading. What I did to turn my investing around was to use an automated stock picking software service to do the hard work for me.

I want to reveal this invaluable service to you right now. If you are looking to make some healthy returns from stocks then this could be the most informative article you read because the information I am about to disclose has the power to dramatically improve you wealth.

I used to spend hours and hours each week pouring over the financial press and the Internet researching potential stocks to invest in. I was using a combination of fundamental analysis (looking at the companys profits and balance sheet) and technical analysis (looking at price movement trends) and felt I was fairly competent with both despite my lack of results. Occasionally I would pick a winning stock however I would also pick bad ones and I never managed to significantly grow my portfolio of stocks.

What I found really difficult was when I did buy in to a good stock I did not know when to sell. I often found myself sitting on a 10% gain only to see it eroded away over the next few weeks. In a similar vain I was unsure when to buy in to a stock I thought offered value. All too often I would 'miss the boat' and spend my time working out how much money I would have made had I bought the stock.

I was introduced to the service by a close friend that worked in one of the large investment banks. He told me that for some years now the big banks have been using computers to select their trades. The benefit being the huge computational power they offer. He showed me the service and more importantly the profit and loss on his trading account. My trading has gone from strength to strength since that moment.

Now I use a automated stock picking service all of the hard work is done for me. I receive a weekly newsletter with my picks in. I then do some high level research to get some more background on the companies then simply invest when the suggested buy price is reached and sell at the proposed sell price. By doing this and spending just 2 hours per week on my trading I make roughly $5,000 per month more than I did when I was spending 15 hours per week researching the market by myself.

You too can use this stock picking system to your advantage. The service that I use to direct my stock investments can be found at this website: http://www.frogfinance.com/investing/investing_tools.php

This service has helped earn me thousands of dollars and has helped to change my life by helping me plan for my retirement as well as indulging in some luxuries now!

AP - Homebuyers could see lower mortgage rates and get tax credits as part of a sweeping economic stimulus package being considered on Capitol Hill.

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The Cost of Being an Ignorant Trader

Statistics show that only 15% of forex traders make money, which seems to contradict the vast numbers of people actually trading in forex. What follows is five mistakes new traders and experienced make that often causes them to lose money.

1. No Forex Trading Plan - Trading in forex without a forex trading plan is akin to going to war without a battle plan. You have very little chance making money without a well-conceived plan and strategy and how to execute it. The forex trading plan needs to be extremely specific, understandable and easy enough to execute for even a small child. Without an entry strategy, exit strategy, trade continuation strategy and money management strategy the chances of success are at best very slim.

2. Switching Strategy - A well drawn up strategy takes time to develop and is an iterative process, which should reflect the traders' own personal style. Development of aggressive or passive strategies should be refined on a demo account and helps develop a single strategy that the trader is going to stick to. Upon learning the strategy the trader should stick to it in the main but learn to merely adapt it to changing market conditions - having this versatility within the traders existing plan is vital. New traders should not switch from one strategy to another, they need chance to develop and mature.

3. Trading Emotionally - The most successful traders can turn off their emotions, which is a critical characteristic to have when trading in forex successfully. This includes both positive and negative emotions. Getting in and out of trades as necessary and making sure the head rules the heart is crucial in forex trading but often a mistake made by traders. Many a trader has made the mistakes of trading when they feel they can ride the wave of current good luck and also kept trading when they are down but are motivated out of desperation.

4. Failure to utilize a Stop Loss - Partly a problem of emotions, a clear exit strategy should be employed when entering a trade so parameters are clear. Not getting out at the right time is a key trader mistake. A good trader will know out the outset how many pips they are looking for and what their loss limit will be. Not having an automatic trigger has been many a trader's downfall. Ill-disciplined and not setting stop loss targets is a bad mistake to make, a trader has to acknowledge there will always be new trades happening.

5. Unclear Rationale for Trading - A trader trading for the wrong reason will fail. It has to be taken seriously and trading should not be undertaken merely for the excitement of trading. The undeniably high of making a huge profit should be tempered with the seriousness of making a loss. Trading is a serious business and should be treated as such. Many a trader has made the mistake of not giving trades the time to develop as they have 'better things to be doing'.

Did you know that there is a easy way to alleviate all of the mistakes above? Can your trading afford to try and stay in business and continue to make these same monumental errors? I think not....a mechanized trading system can strengthen and amplify your trading results. Click here and find out how you can improve your trading results tenfold with the right strategy.

Reuters - Santander in Europe and Wells Fargo & Co in the United States offered a glimmer of hope to shareholders in the stricken financial sector after both banks held their dividends steady.

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Benefits of Day Trading

Day trading has survived the market because it has proven itself to be lucrative and appealing to people who want to engage in another type of business. Here are some of its benefits:

Income

There is money in trading, this is the very reason why many people quit their jobs and focus their resources on this business. However, not everyone can make money all the time. There are winning streaks and losing streaks in this business and sometimes losing is inevitable. However, we can't discount the fact that there are big time turnovers when all the necessary attributes of day trading are met.

On the average, daily income could go anywhere from $100 to $1000. But those who are more skillful and have a lot more experiences in this business are more likely to have higher income than novices.

It must be noted though that there are several expenses that a trader should attend to like commissions and additional payments for the brokers.

Freedom from office work

This trade gives a person the chance to be free from dull office work, work politics and demanding bosses since a trader works like a freelancer. Plus it also gives the flexibility of time. A day trader could choose the schedule of work. He could choose to start trading at the beginning of the day or during off hours. However, he must also understand that he will answer to all his decisions. If he did not trade today, it means that he has no income. But doing what you want to do in your own time is often a good price to pay.

No Overnight Risk

As compared with trades in the stock market, trading offers no overnight risks which means that there is no likelihood that the events and news which happened overnight will affect your portfolio. It is good to remember that this trade is basically squaring all transactions at the day's end. This means that no one holds any positions after all the trades are closed.

Immediate feedback

It is a fast-paced business- you automatically know whether you earn or lose with your current trade giving you enough time to make up some solutions whenever needed.

Control of decisions

The traders are their own brokers, they decide on when to enter a trade or exit it, they assess the trends, and they make their decisions on whether to buy a trade or sell it. In short, no one tells them what to do and no one comments on whether they have committed a wrong decision or not. This structure is very advantageous for people who prefer working alone and without people to tell them what to do and how to do it.

Miodrag Trajkovic is an expert on information related to Day Trading, Day Trading Mistakes, Day Trading Strategies, Online Day Trading and Day Trading Systems. For more information visit his website http://daytrading.explore-me.com

Reuters - Intel Corp Chairman Craig Barrett, the courtly former academic credited with building the company into the world's foremost chip maker, will retire in May after 35 years at the firm.

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Currency Trading With Great Tips

Currency trading with great tips can help you push your trading from mediocre to great. This is an exciting market to get into where you get to work from the comfort of your own home and generate an income solely by yourself. That may scare some, but it is liberating to others.

How important is the news?

I think it is very important, but you don't have to look at it that way. The way I view it is that it is free information. I get up in the morning, turn on the television and watch it while I drink my coffee. It's like my free personal consultant.

You need to pay particular attention to the news that is talking about the economy or will have an affect on the economy. The most important piece of news is an interest rate change by the central bank in your country. This basically signifies that the supply of money in the economy will change, which means the price of currency will change. You will also want to watch out for news on GDP, consumer spending and unemployment.

When should I trade?

I think the best time to trade is during the peak hours. This means there is a lot of people trading and a lot of money moving around. The reason to trade at this time is to ensure that market forces are in control and no one trader can manipulate the market. At this time a big bank could make a huge trade, and the affects would be minor because so many other people are trading. If you look at an off-peak time, this same bank could cause a currency to go in a completely opposite direction.

What software should I use?

The best software I've come across is Forex Killer. It is able to find profitable trends, so you can make more profitable trades. It also has automation features that allow the software to look after trades while you're away from the computer. It's like having a second employee that works 24hrs a day. It is an essential tool for your toolbox.

The automated software of Forex Killer will give you an immediate edge in the market. Make trades that work for your profit line. For more information on the Forex Killer software, check out Forex Charting Software.

Reuters - The U.S. Treasury on Friday agreed to lend Chrysler LLC's finance arm $1.5 billion for five years to fund new car loans and boost sales for the sputtering Detroit automaker.

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4 Must Know Questions and Answers Before Deciding If Forex Trading is For You

1) What is forex trading and is it for you?

Forex trading is trading between two currencies. For example, you buy a certain currency now. When the currency appreciates after a period of time, you then sell it off. An investor's goal ultimate goal in forex trading is to profit from these foreign currency movements.

2) Forex trading can be very profitable but...

Indeed, forex trading can bring large potential rewards. But one has to keep in mind the high risk high return rule. Forex trading is like any other investment - its high return is accompanied by high risk that the investor has to bear. This means that the investor has a high probability of yielding losses as well.

3) How is it done?

Traders use technical analysis to examine the history of market prices and the turnover of relevant financial instruments in order to identify the market trend and its possible changes. . Traders watch these surveys closely as purchasing managers, by virtue of their jobs, have early access to data about their company's performance, which can be a leading indicator of overall economic performance. From there, traders gain insight about currency movements in order to help them 'buy low sell high'.

4) Is forex trading for you?

The forex market is definitely not a game for the newbie and you need to brush up your skills before getting your hands wet. You are the best judge as to whether Forex trading is appropriate for you in light of your financial condition, investment experience, risk tolerance etc.

Ivan Ong is not an expert in Forex Trading. However, he does know some tricks that has earned him US$890.26 in his 8 first trades trading the Forex Market. He is going to show you the exact system that he follow to have such success in Forex Trading. If you want to find out the strategy that he used, click on the link here: http://www.OnlineReviewHub.com/forex/

Reuters - The unemployment rate surged to the highest in nearly 16 years last month as a deepening year-long recession forced companies to axe more than half a million jobs, government data showed on Friday.

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A Good Forex Trading Course is a Must For All Beginners

It is no surprise to find that a growing number of people these days are keen to participate in the world's largest and most liquid financial market and a market which is essentially open for trading twenty-four hours a day. Many people have become very rich through trading in the forex market and it has allowed a lot of individuals to replace their day jobs and enjoy the comfort of working from home a few hours a week. It has also made quite a few millionaires!

Of course there are two sides to every coin and just as some people have found a very comfortable living with forex trading, there are also many people who have lost the shirt off their back. So, what separates the two? Well, there are many answers to this question but without doubt top of the list is good forex training.

If you enter the world of live forex trading without the necessary knowledge and skill then you are almost guaranteed to lose money. However, if you take the time to learn what you are doing before you start trading with your own hard earned money then you will go a very long way towards minimizing your risks and maximizing your earnings potential.

A good forex trading course will teach you everything you need to know about the various different tools available to you in trading, including the trading platforms available in the forex market and analysis and charting software. Most importantly, it will also tell you when to enter the market and when to exit it. In other words, when to buy and when to sell.

There are many different forex trading courses available today and you will need to pick the course which best suits you and your learning style. You could for example choose a crash course which will cover the basics in a very short space of time at one end of the scale or a full-time offline training course where you can learn first-hand from an experienced trader who will not only take you through all the basics, but will also cover many advanced aspects of trading and even sit down with you and take you by the hand through a series of paper trades.

For most people though a popular choice is an online training course which allows you to learn at your own pace using the medium which you will also be using for trading. Online trading courses vary widely from short introductory courses to extended in-depth training and again you can choose whichever suits you.

Yet another excellent, but under utilized, form of training is to apprentice yourself to a seasoned trader and mentor. For many people this represents the ultimate in training and, as with most things in life, there is no better way to learn than by looking over the shoulder of an expert and have that expert monitor and advise you as you practice the skills he is teaching. Of course it is not always easy to find the right mentor, but the time spent tracking down a suitable teacher will be well worth it.

Whatever form of training you choose the secret is take at least some training before you start trading and then to trade slowly and with relatively small sums of money until you have built up sufficient knowledge and developed your skills to a reasonably high level.

LearningForexTradingOnline.com is designed to assist beginners to learn forex and includes a growing base of information including a large number of current forex articles

Reuters - A top bank industry group said on Friday that it opposes an agreement between Citigroup Inc and Democratic senators that would rewrite U.S. bankruptcy law to help troubled mortgage borrowers avoid foreclosure, saying it could make home loans more expensive.

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FOREX Trading Signal Subscription Services - To Use Or Not to Use

Novice and expert traders agree that trading signal subscription services are useful trading tools. Using trading signals to help with buy and sell decisions eliminates some of the guesswork. However, the foreign exchange market (FOREX) is always unpredictable. Even the most skilled analysts sometimes make errors in judgment. Or, the market takes a turn so unexpected that analysts and traders are taken by surprise. Generally speaking, however, trading signals tend to produce more profits than losses.

"Trading signals" are simply advice and recommendations on buying or selling on FOREX. They are delivered electronically to traders when they open an account with a trading signal company. These signals are based on algorithms developed by experts. The algorithms analyze an individual trader's profile and criteria. They compare these against the current market status and prices. They then make buy and sell recommendations based on this data. The subscriber receives e-mail notifications outlining these recommendations.

Each buy and sell signal consists of two price data. They are "take profit" and "stop loss." A "take profit" indicates that the price of a currency is trading higher than it was at the time an order was placed. Using the euro as an example, a trader may see an upward swing in the price. The higher it rises, the more it will be traded. The investor decides his target price and places the order. When the euro reaches the "take profit" level, the profit is automatically transferred to his account.

A "stop loss" is based on a trader's own criteria for minimizing the risk of loss. The trader pre-sets this target based on his own comfort level. It is an order given to a broker to buy or sell a stock when it reaches a particular price. The "stop loss" is the trader's hedge. The investor's euros will be sold when their value falls below the price at the time of order.

There are several advantages to using trading signal subscription services:

* It takes much of the guesswork out of trading on FOREX. It's like having a panel of experts working for you. Trading signal services relies on data and market analysis gathered by those who know FOREX. Financial professionals, mathematicians and computer programmers contribute to the development of the software. The algorithms make determinations based on this information plus the trader's criteria and the current market status. The result is a trading signal delivery system tailor-made for each individual trader.

* It's possible to make multiple trades simultaneously. A lone trader cannot be tied to a computer screen all day long watching the market. The market also changes quickly and frequently. What was true of a currency's value in the morning may be old news by noon. Instead, the investor can watch for his trading signals as they flow in. He can make multiple trades and be assured that his criteria are followed.

* You can "try before you buy." It can be daunting to place money on a system that you've never used before. That's why most trading signal subscription services recommend demo or practice accounts provided by FOREX brokers. Traders are given virtual credit. The investor can set his criteria and then play the market virtually. It usually takes only a few weeks to understand the signals. The trader can gauge his virtual success and decide whether a subscription would be worthwhile. People who use practice accounts typically find the experience educational, insightful and valuable.

There are numerous trading signal subscription services to choose from. Most range in price from $50 to $100 per month. Most offer the same basic services. Packages vary slightly from company to company. To name a few, Forex Trend System and Forex Winning Signals are well known subscription services with trial membership. Comparison shopping and trying demo accounts from several services can help you choose.

Kote Dylan is a beginner of FOREX trader. He has traded the market with a demo account. For those who are new to FOREX, it is recommended to visit Forex Trading System Product Reviews and find out which trading software, tutorial or trading signal subscription service fits your need and budget.

Reuters - Palm Inc overhauled its mobile operating system and introduced a new touch-screen phone, sending its shares soaring 35 percent as investors hoped the moves can help win back customers from rivals such as Apple Inc .

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Tips For Trading in the Foreign Exchange

I'm going to share with you some of my tips for trading in the foreign exchange. This is a great home business opportunity for people. Never before have ordinary people been allowed to trade in this huge market from the comfort of their own home.

What are demos and how do they help me?

When you get a broker or software, you will have access to what is called a demo platform. It's just a way to run a simulation of real trades without having to risk any of your money. It plays a few vital roles for new people to become better traders. First, it allows you to learn how to do the process of trading. You get to learn all the buttons and figuring things out. If you're not sure what a button does, you can push it without having to worry about losing money. The second thing is that it helps you develop those tasks you do before trades. You can develop a routine of analysis before you ever start risking your money. Finally, you can test out your own strategies to see how good you are at this game.

How many currencies should I learn at a time?

I recommend learning only one at a time. You'll notice, over time, that each currency has unique characteristics and behavior. Trying to learn too many currencies at once will confuse you and I think it will be detrimental to you over the long term. Learn one at a time and learn the little things that make the currency unique.

I'm currently giving a 7 day free forex course. Newbies and experienced are all welcome. If you're interested in participating, check out the Casual Forex Trader.

Reuters - Bernard L. Madoff Investment Securities LLC was examined at least eight times in 16 years by the U.S. Securities and Exchange Commission (SEC) and other regulators, who often came armed with suspicions, the Wall Street Journal said.

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