Forex Brotherhood - Your Forex Club of Elite Traders

Are you tired of always being on the losing end of the currency trading market? Are you sick of buying different forex trading books that the so called gurus say that they will make you money at trading?

Well those days are over for you if you really want to succeed at forex trading. There is now a new forex club of elite traders that you can be a part of. Just imagine trading forex while looking over the shoulders of 20+ year veterans as they make winning trades day after day.

The forex club of elite traders that I am referring to is the forex brotherhood, this is a new membership only club that was launched a few days ago and the response was unbelievable. Why you ask? Well this forex club of elite traders are there to help you make that money.

Here is just a few of the perks you get within the club

1. 2 live daily Webinars - one in the AM & one in the PM - The host will give you daily secrets and the do's and don'ts
2. Custom made automated expert adviser - This is exclusive to members only
3. 2 Daily hot reports
4. Private VIP forums and chat rooms - This is where all the big boys come to talk.
5. Monthly prizes and perks. etc.

Why would you want to learn forex on your own, when you could have a club full of elite traders just waiting to help you out. But than again maybe you are one of these people that think that forex trading is through trial and error, just a fluke, and get lucky, and not have a clue what you just did in order to generate your profit.

With the Forex Brotherhood you won't have to rely on luck or trial and error because that's not what forex trading is about, it's about knowing what you are doing and that is why with the forex brotherhood club of elite traders are there to help see you succeed with forex trading, because that's what family is all about helping one another.

Forex Brotherhood is currently the only system that combines a live broadcast and a daily documented market action (twice a day!) with the rest of their deliverables. Join The Club.

Reuters - Wall Street is unlikely to get a reprieve next week as relentless worries about U.S. banks and the economy could embolden bears to drive the market below the 12-year lows hit on Friday.

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How Big a Trading Account Do You Need to Day Trade

This is a very popular question amongst people who are considering Day Trading online as a business.

To answer this question it really all depends on what sort of Day Trading you are looking to do. If you are considering Day Trading online then you may want to trade more leveraged instruments such as Options Futures contracts CFDs..(Contract For Difference) or Forex....(Foreign Exchange) rather than just stocks.

The main reason for this is that to Day Trade stocks you are probably going to need a trading bank of at least $20,000 minimum and if you are planing on being in and out of a trade within the one day then you may not get enough movement in the price of the stock to warrant Day Trading it.

With Futures you need about $10,000 in your account to cover the size of the actual futures contract and also you need to have enough left in the account to cover the position to avoid getting a margin call. A margin call is when you do not have sufficient funds in your account to cover your exposure to the market movements in the position you have opened.

With options you need a little bit less you can trade options with an account with as little as $1000 but to give you some breathing room you really need about $5000.

The same would apply with CFDs. Like a futures contract you need to have sufficient funds in your day trading account to cover your exposure to the market movements in the position you have opened.

With Forex you can open a Forex trading account with as little as $500 but once again you still need to have sufficient funds in the account to cover your exposure.

However if you are starting out in day trading and you have limited amount of funds you are prepared to risk on the market day Trading you would be well advised to start with Options, as your exposure is clearly limited but you can still benefit greatly form the amount of leverage offered through option contracts.

Regardless of which instrument you decide to Day Trade you must have a trading system that you can follow that will give you the confidence to Day Trade. And before you go live with that system you must first back test it to see if you are comfortable with is and that it will give you a profitable win loss ratio.

And yes you will have losses, but in Day Trading as with any trading the losses do not matter too much as long as they are cut short and that you have far more wins.

Having established your Day Trading system and settled on the particular instrument you want to Day Trade the next most important thing you need to be aware of is the amount of money your are prepared to risk, the most you should ever place on a trade is 10% of your trading bank. When day trading or any period of trading you should never place more than 10% on the one trade no matter how confident you are.

The other thing you also need to be aware of in Day Trading is to never dollar cost average. This means if you enter a position and it goes against you which is sometime common when you enter into a position because there can sometimes be a bit of retracement before the trade starts to go your way, you should never buy more of the stock currency or what ever it is you are trading in the hope to make up some of your losses in the event it starts to move back in your direction, because I can tell you it can become a recipe for disaster.

Having said all this one of the best things you can do for your Day Trading education is to view a live trading videos of a trade as it actually happened.

Hil Smith is the author of http://www.tradingslingshot.com which is a website with free educational material for online trading.

Reuters - Bank of America Corp shares sank below $3 and Citigroup Inc tumbled below $2 on Friday, hammered by growing fears that the U.S. government could nationalize the banks, wiping out shareholders.

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Forex Trading System Software - Your Shortcut to Forex Riches

Forex trading system software allows traders to trade in the currency pair. Each currency pair has its own unique characteristics. It's essential that forex traders choose a currency pair that they are most comfortable to trade in. since most of the trade is now conducted through the internet it's important that the software's are online. Traders receive streaming quotes, this means that the traders can see the real ask/bid prices that are been quoted for the currency pair at that point of time.

Tight spreads and rates are given in pips

Most of the global banks give extremely tight spreads. Spreads is the difference between the "ask" and the "bid" price. When the bid price is greater than the ask price, profits are made. The precision can be down to 1/1000th of the cent. 'Pip' is 1/100th of a cent. Many banks and financial institutions also quote in pips. Spreads are usually seen in pips. For example if the ask rate for the Euro changes from $1.4154 to $1.4153, then the Euro asking price has gone up or the dollar has appreciated against the Euro.

Forex trading system software will also show the "ask" and the "bid" price of the currency pair simultaneously. It will show the time in real time as well as the "ask" and "bid" prices of the currency pairs that you wish to see. Choose the lot size of the currency pair that you wish to trade in. Place your market orders on the Forex trading system software easily. You can choose to trade at the going rates or choose to limit your exposure by deciding on the number of pips. For example if your limit is 5 pips, then the trades won't be executed if the pips move by more than 5 places in any direction. The software's also show your minute to minute position and reports can be generated in .PDF, .xls, HTML formats.

Advanced features of the software's

The advanced versions of the Forex trading system software have the charting built into the trading station. There are a number of forex tools that are available for the investors such as pivot points and Fibonacci lines. The traders are also able to save their own chart, multiple layouts and templates. In fact the traders can easily place and stop market orders on the charts itself. Many of the features can differ from one Forex trading system software to another.

If you would like to find out more about some of the best Forex trading software available on the internet then check out the site below.

For more tips and tricks on how you can make large amounts of money by trading forex, visit our Forex Software Review site where we show you the newest and hottest Forex software on the market including our Forex Tracer Review.

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Steps to Trading Forex Successfully

Forex trading can sometimes be a bit tricky to understand if you are brand new to trading. That being said here are some steps to help you be successful trading forex:

1) Understand the Mental Aspect of Trading - So many traders quit trading because of fear. The faster you understand that you are going to have losses, the happier you are going to be. For whatever reason most new traders just can't accept that fact. They think every trade is going to be a winner and that's just not he case. They also get very anxious when a trade goes against them. If these are the kind of things that happen. Open up a micro account with a forex broker and trade 10 cent lots, that way you're not risking much money and you can get a hold of your anxiety. Even after that, if you still get knots in you stomach when trading then, forex may not be for you.

2) Follow strict money management techniques - Remember this is not a race, it's a marathon. You won't be a millionaire off of one trade (especially at the beginning) You don't have to swing for the fences. If you try to keep usable margin above 98%, you'll be ahead of most traders.

3) Get rid of all your indicators - You'll never be able to get a full understanding of how and why the markets move the way they do, with lagging indicators. If you're able to trade forex using price action you'll be able to trade more profitably as well as trade with more comfort.

If you're still struggling to learn how to trade forex, make sure to check out my squidoo lens.

AP - With thousands of fraud investigations under way, the FBI is considering shifting agents away from counterterrorism work to help sort through the wreckage of the financial meltdown.

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A Great Forex Trading Indicator - Check Out This Strategy

What Forex trader isn't looking for a way to improve trading on the currency market? I know, I can always use another trading strategy. I never have enough good trading indicators. As a result, I have decided to review one of the best known and helpful Forex trading indicators: The Elliot Wave.

In the 1920s a man named Ralph Nelson Elliott learned that the markets did not conduct themselves in an erratic manner but actually moved in consistent and dependable waves. He held that there were cycles in which the market moved and it largely because of the emotions of traders which kept these waves continuing.

It was the consistent patterns that he observed and led him to eventually label as "waves." This later developed into a theory which is commonly referred to as the Elliot Wave Theory.

A commonly accepted form of the theory:

1st Wave: The currency has its initial jump which is mainly due to the emotions of traders. The currency, in turn will move higher. A large group of investors "believe" the currency will continue to go higher so they get in on it.

2nd Wave: The first wave group has a good deal of investors that feel they got enough out of the run on the currency so they bail out to take their profits off of the table. This leads more investors to get in on the currency as the dip in price leads many to think that the currency is a great deal once again.

3rd Wave: This is where the currency gains great attention from a large group and shoots up to make its new highs.

4th Wave: Back to wave 2 as many take the profits off of the table and the currency dips lower. In the end there are those who jump back open as they see a reduction in price as a means to a "great buy."

5th Wave: This is where a massive swell of Forex traders come in on the currency. It will eventually become overpriced.

The Elliot Wave is a great Forex trading indicator. Any trading strategy has it good and bad points. I highly recommend using good Forex trading software with reliable trading signals to compliment any trading system.

I have included a review of the three most popular software programs on the market.

I wish you good trading ahead.

Get an Objective Review of the Most Popular Forex Trading Software Programs. http://www.Forex-Trading-System-Review.com is the place to visit.

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

Reuters - Stocks rose in a choppy session on Wednesday after lawmakers reached a compromise deal on a $789 billion stimulus package that is seen as crucial to reviving the recession-hit economy.

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Starters Guide To Forex Trading

Having a proper starters guide to forex trading can help you out since this can be a business where your money can disappear quickly if you don't watch it.

What are demo accounts?

These are just accounts on your trading platform that allow you to do trades that aren't real. It's basically a simulator of the forex trading experience. As a beginner, this is probably your best tool. The first thing it does is allow you to learn the trading platform. You get to learn what all the buttons do and make mistakes, without having to worry. You also get to test your skills on currencies graphs, to see if you can make any money. When you're confident from using the demo account, you can move onto doing trades with your own money.

What is margin trading?

If you've been looking at brokers, you've probably noticed margin trading and it probably confused you. The idea is that you put in a deposit and you get to leverage the brokers money in trades. Depending on the account, you can get 100 times the amount you put in as a deposit. For example, at 100 times, if you put in $1000, you could trade $100,000.

I know that sounds too good to be true, but the broker will protect them self. If you start losing anywhere near your original deposit, your broker will cut you off and exit the trades, so they don't end up losing money. The extra money that you trade with allow you to make more money per trade, so that's why it is useful. When starting out, go slow with these types of accounts. Only use 15-20% of what is available. This way you get leverage, but you don't have a huge risk of losing more than your deposit.

These are great ways to learn forex trading online. I'm currently giving a 7 day free forex training course. Newbies and experienced are all welcome. If you're interested in participating, check out the Casual Forex Trader.

AFP - Europe's main stock markets diverged in a narrow range on Wednesday after a slump on Wall Street overnight as traders gave a lukewarm response to a stepped-up US stimulus package.

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Forex Trading Tips - How to Go From Humble Beginner to Major Winner

If you're just starting out in forex and need some guidance and forex trading tips then you're in the right place. In this article, I'll give you some great but simple advice that could transform your trading.

Discipline

For each trade that you make, make sure you also specify a stop loss level. Trading without a stop loss is like playing football without a jockstrap! Simply, do not do it!

Ideally, you should also have a profit target (when to exit the trade) that you know before you place the trade. You can always revise this later.

Logic Over Emotions

The reason that you should have these is because it will force you into the habit of having a solid logical reason for each trade that you make.

The simply fact is that if you don't even know where you should place a stop loss, let alone your profit target then you are trading on "gut" or "instinct" and not logic.

If you keep trading this way, you might get a lucky streak but you will soon regret it when you lose it all and possibly more. I have seen this happen to way too many traders.

Know Your Markets

If you're using logic then you need to understand your markets. You really don't need much knowledge at all to trade profitably.

Just pick a few markets and observe them. It's easiest to start with the majors like EURUSD, GBPUSD and USDJPY. Check the forex news websites and monitor these markets closely. There are even many great market commentaries on Youtube.

You'll start to notice some trends in the way that the market reacts to news. You'll start to get a feel for the direction of the market.

And if in doubt, then you always have another option...

Outsource Your Research

If you don't want to spend time learning and understanding the markets then simply pay a small fee to outsource it.

What I mean by this is to buy some good quality forex signals or a good autotrading "robot" (a predictive model). The cost of these is far less than the money you will make, so much so that you will consider it negligible.

Are you determined to become a profitable forex trader? Then get more forex trading tips in my free forex lessons at http://www.ForexAttitude.com

AFP - President Barack Obama accused Wall Street of seeking an "easy" way out of the financial mire Tuesday after the announcement of his new industry rescue plan sent stocks dipping sharply.

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