FOREX Trading Strategy

There is a FOREX mantra which has been mentioned to me many times:

PLAN YOUR TRADES AND THEN TRADE YOUR PLAN.

By writing yourself a FOREX trading plan you are setting your own parameters. The most successful traders are those who stick to their strategy to the letter! It is actually a very hard thing to do as many emotions kick in when you are trading your own money. This is why paper trading your strategy is so important when you are learning.

With FOREX trading its helpful to write all your trades down in a journal so you can go back over the week's trades to assess what works and what doesn't. The thing about FOREX trading is that unless you can afford to pay a reputable trader to sit with you every time you trade the only way you can learn is through your own experience. You then become your own mentor and you will find out which strategy works the best for you.

For more about trading plans and what to include go to www.tradeforexfromhome.com

Best wishes for your successful FOREX trading career.

Annabel
www.tradeforexfromhome.com

Trade FOREX From Home

A few years ago I was working out how I could earn enough money to quit my day career and commuter hell to follow my passion for car racing and be financially independent. Having found buying and selling UK stocks not profitable enough for short term returns I enrolled on an expensive financial trading seminar. After the course I traded many of the markets but found I was increasingly disillusioned by trading the UK stock market and binary trading. Following on from conversations with other traders there it was - the Foreign Exchange platform or FOREX.

This had to be where professional traders made their money and I wanted to know more!

The trouble was there was so much information on the internet about FOREX trading - where would I start? Since coming across this problem I decided I wanted to write a book (download the first chapter for free here) to explain the essentials of FOREX trading in layman's terms. For this reason, I wrote Trade Forex From Home keeping it really simple, easy to follow and to understand with some basic trading techniques which if followed has the opportunity to get your Forex trading account up and running in no time. I wanted to share my journey and communicate how anyone can trade the FOREX market.

It's taken nearly three years with juggling my day career, sponsorship hunting for racing and sometimes working part time to fit trading into my daily routine, in addition to researching and writing the book, to reach this stage. That's years of research, reading, learning, practicing trading set-ups and seeing what works.

Please take a look at my NEW web site - www.tradeforexfromhome.com and if you would like to know more about trading the FOREX market please visit here.

I hope you enjoy the read.......

With best wishes for a successful FOREX trading career.

Annabel

Candlestick Charting with FOREX Trading

FOREX trading isn't difficult. It is essentially a conversation between buyers and sellers which can be seen as a visual representation in candlestick charts. A candlestick shows how many transactions are being made - a red or black candle shows that more transactions for selling the currency pair are being placed whereas a green or white candle shows that more transactions for buying the base currency are being made.

With FOREX the size of the main 'body' of the candle shows the volume of those transactions and the 'shadow' of the candle the extent of the price rise or decline during that period. On a 1 min chart each candlestick will represent the level of buying and selling of the base currency every minute of the day. FOREX trading is very specific and the software available to the likes or you and me - retail traders immense!

FOREX trading once learnt has enormous opportunities to make a good living for a very long time. It is argueably the most tradable market available and will not be adversly affected by any credit crisis, financial crisis or economic crisis - its too vast!

For more FOREX benefits and learning take a look at the book Trade FOREX From Home.

Happy and successful trading

Annabel
www.tradeforexfromhome.com

Using Pivot Points In Your FOREX Trading Plan

With FOREX trading determining pivot levels begins with the calculation of the actual pivot point, which is simply the sum of the previous days high, low, and closing price. If the market opens or later trades at the extremes R2 or S2, pricing will exhibit a tendency to trade back toward the pivot point. Hence, FOREX traders tend to avoid buying high (at R2) or selling at the low (S2). The wisdom of this is even greater the further the price moves away from the day's pivot point.

High probability trading is the key to longevity as a FOREX trader. Trading reversal patterns given by price reaching the extremes of support and resistence levels means that you are giving yourself the highest possible probability of success.

There are many areas trading the FOREX benefits from as opposed to other financial markets available to retail traders. FOREX is such a vast global entity that it is very hard to manipulate the market and so it remains one of the most, if not the most tradable and profitable markets available to you and I.

Happy and successful trading

Annabel
www.tradeforexfromhome.com