http://www.articletrader.com/ Articles at ArticleTrader en-us http://www.articletrader.com/finance/real-estate/greek-real-estate-own-a-piece-of-history.html http://www.articletrader.com/finance/real-estate/greek-real-estate-own-a-piece-of-history.html Thu, 12 Jul 2007 00:00:00 -0500
Owning some Greek real estate can give one a sense of having bought a piece of history give the the opportunity to make steady and consistent capital gains and provide a great lifestyle at affordable prices.

There is really nowhere else like it on earth. As the Greeks like to point out, the Gods could have settled anywhere, but they picked Greece.

Distinct Markets
The real estate market in Greece falls into two basic categories, commercial and residential.

However in both cases, there is the well developed areas of Athens and Salonika, and then the touristic areas of the Greek islands and coasts.

In all cases the market has been performing steadily upwards since the end of WW2.

The Greek real estate market is also as popular with non-Greeks as it is with the Greeks themselves.

Florida of the EU

As in the Florida phenomenon in the United States, Greece is becoming an increasingly popular place for aging Europeans and others to retire.

Health care is as good as anywhere else in the EU, the local populations is typically multilingual and the weather provides a summer of 8 to 9 months a year.

For sheer beauty and cleanliness, the Greek seas are unbeatable in Europe. Property prices rise at a moderate but consistent rate.

The Commercial Market

By far the most developed real estate opportunities in Greece are the touristic sites in the commercial market.

Many hotels in Greece are now owned by non-Greeks, and in all areas; the cities and the islands/coasts. Typical sale and purchase margins are all double digit and can easily exceed 35% to 40%.

Greek and Foreign banks in Greece are now loaning substantial funds to finance commercial purchases. Tourism in Greece has been on the rise ever since the 2004 Olympics.

The Residential Market

The residential market in Greece is certainly dominated by the Greeks themselves; but only in the cities.

There are whole areas (Mani, for example, in the Peloponnese) that have become German and Swedish colonies. Areas near Salonika (Porto Carras) are also fully developed with villas of all sizes and sorts.

Typically the buyers do not sell once the purchase is made, as it appears to be retirement settlements.

There are any number of reputable real estate brokerages in Greece ready to assist the potential buyer.

However there is no substitute for actually traveling to Greece for an extended vacation, and learning directly about the climate, geographical situation, law and regulation, Greek foods and customs, and financial (banking) assistance.

Getting Around in Greece to Investigate Real Estate Opportunities

It is very easy to rent a car to drive around Greece. There are many ferry boats that can transport you to the islands, and the road system, even to remote mountain villages is well developed.

The Greeks are a hospitable people, and take great pride in entertaining visitors. While investigating the real estate opportunities, you can also get to know the Greeks themselves, and decide (like so many have) that this is a great place to live and later retire.


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Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/moscow-real-estate-investment-why-you-should-consider-it.html http://www.articletrader.com/finance/real-estate/moscow-real-estate-investment-why-you-should-consider-it.html Thu, 12 Jul 2007 00:00:00 -0500
Moscow 2007.

It is one of the most unique and exciting cities in the world - 17,000,000 souls live in a sprawling metropolis, seeped in history, seat of power of the Russian Federation, and home to 0ver 90,000 US Dollar millionaires, most of them under 50 years of age.

The Two Markets

The two Moscow real estate markets (residential and commercial) are indeed separated, but the profits possible in either market approximate each other.

For residential the greater part is composed of large apartment buildings, some of them with thousands of apartments within.

There is a smaller single home dwelling (often referred to as cottages, or dachas) which nevertheless can be built relatively cheaply compared to the sales price.

For the commercial market, there are new office buildings being built literally everywhere in Moscow, as well as shopping centers and industrial buildings.

The Opportunity

A simple visit to Moscow could convince the great skeptic that the construction boom is not even partially saturated.

The rents for either market do not yet approach London, but are closing very quickly.

The market is liquid, and there appears to be equally eager buyers and sellers. One can buy either independently, within a group, or fund. The returns have been more than impressive, and continues at a rapid rate

Why Moscow?

Moscow is a city of the future. Future is all about Moscow.

The population is young, growing, and highly educated.

The demand for both high quality commercial and residential property is unequaled in any European city, or any city for that matter.

Moscow resembles Hong Kong in the 1970s, London in the 1980s, and Los Angeles in the 1990s.

The political climate is more than stable, the laws and taxes have been adjusted to insure ownership continuity. The banks are learning the value of mortgage finance, and interest rates are becoming competitive.

How to Invest

Like any prudent investor one should see the lay of the land.

A week’s trip to Moscow can reveal much.

The major real estate companies (all of them) are resident in Moscow and provide a comprehensive viewing of their properties.

They can also reveal the local laws and regulations by which any investor and investment are regulated. It’s worth a visit. Moscow is alive and well and literally never sleeps.

How Much to Invest

This is a very subjection question. A 100 square meter apartment in Moscow can cost from $200,000 to $300,000 if purchased correctly as construction is about to start.

The sale of the same apartment in one year can at the moment find exceed $600,000 and even approach $1M.

It will not be difficult to make such an investment. One needs a real estate broker, a lawyer, and perhaps some personal assistant to translate and help you with local transportation.

Such a person is not difficult to find.

For larger and more impressive investment, consultation with the larger and well established real estate agencies can save you time, money, and later headaches.

Their specialists are on hand to guide you through the purchase process. For the larger investments, the multi-national real estate agencies (and they are all in Moscow) are your best bet.

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Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/investing/forex-day-trading-the-myth-and-reality-of-forex-day-trading.html http://www.articletrader.com/finance/investing/forex-day-trading-the-myth-and-reality-of-forex-day-trading.html Thu, 12 Jul 2007 00:00:00 -0500 Here we will look at how to separate out the myth and see the reality in relation to day trading and how to win in the markets.

Myth – Day Traders Have Profitable Real Time Track Records

Reality

FOREX day traders don’t make money and the proof is that of all the e-books and systems for sale, you never see a real track record of real profits made in the market over the longer term.
What you do get is a hypothetical track record, but these are not worth the paper their written on.

Why?

Quite simply because their devised in hindsight - knowing the closing prices.
Well, if we all knew tomorrow’s prices today we would all be millionaires!
Hypothetical track records are simply made up and have no bearing on how successful you will be trading the system.

Myth – Day traders trade their own systems

Reality

Most FOREX day trading systems are sold by failed brokers, or marketing people who have the sense not to trade the system themselves.
They don’t need to, as they make money anyway.
They can simply rely on writing some marketing copy to appeal to the greed of investors, then sell them the system.
They get their fee and the FOREX trader gets the loses – fair deal for them!

Myth – You can predict short term volatility

Reality

This is of course why day trading does not work.
Trillions of dollars are traded each day by millions of participants and to say you can predict where prices will go in a matter of hours is laughable.
The only people who take notice of support and resistance are losing day traders.
Volatility can and does, take prices anywhere in a day and levels of resistance and support are constantly broken handing day traders loses.

Myth – Day trading restricts losses and runs profits

Reality

As day traders work with meaningless data they can’t win of course but many think that day trading restricts risk, but it actually creates it.
Losses are small, as they are near daily support or resistance ( which get broken frequently as the data is meaningless) which simply ensures they get stopped out with a loss albeit a small one.
Running profits?

Forget this with day trading!

They are looking to scalp a few ticks or close positions out quickly.
The result is they can never run profits to cover the huge amount of small losses they get.
The biggest myth of currency trading is that day traders make money they don’t.
They lose and system sellers laugh all the way to the bank.

The proof of the above is:

If you ever ask a day trader for a long term track record of real profits – Try it and see if you get one.

If you want FOREX education avoid day trading and learn FOREX Trading methods that actually give you a chance of winning.
Day trading is simply one of the best ways to lose your money in online FOREX trading, so don’t fall for the myth understand the reality.

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Source: http://www.articletrader.com ]]> http://www.articletrader.com/self-improvement/happiness/develop-personal-learning-to-say-no-to-improve-your-life.html http://www.articletrader.com/self-improvement/happiness/develop-personal-learning-to-say-no-to-improve-your-life.html Thu, 12 Jul 2007 00:00:00 -0500
Not at all.

The three Rs are three rules of life you are taught from the first few seconds of school. 1. Be on time, 2. Follow orders, and 3. Love boring repetitional work.

The sad thing about this is the correlation it produces in society, and that is, “do not say ‘no’. To develop personally, having been taught otherwise, means learning how to say ‘no’

The Hippie Phenomenon

During the late 1960s in the United States, and parts of Europe, saw the rise of a certain segment of young people who just refused to follow the norms.

They changed their appearance, their way of living, and thinking.

Basically they were saying ‘no’ to the status quo, and to the ‘establishment’.

Their movement carries on today as New Age thinking and acting, with proactive involvement in all the aspects that effect everyone’s life.

The Green political movement is a statement of saying ‘no’, and even in the US, where the real 3 Rs are now firmly rooted in the public’s group consciousness; there is a tendency to keep saying ‘no’.

Why It’s Important to Say “no” in Your Life

Being ‘programmed’ to say yes can leave you doing things which are often against your personal development. You need to question all ‘yes’ answers in your life.

You need to ask, “is it me who is saying ‘yes’ here, or am I following the suggestions of the advertising
agency. Is it right to sit on the couch and eat potato chips, ice-cream and watch programs which 100% predictable plots and endings?”

It is important to examine yourself, your motives, and see who is saying yes or no.

If its not you, and it is the programmer of one sort or another, you must say ‘no’ before you have had time to see what are the consequences of agreeing.

Learning to Think Before You Speak

As is human nature, when we are acting habitually, we often speak before we think, and agree before we think. We react in a predictable way.

The various forecasting companies dealing with public opinion know this fact, and build it into their mathematical models and predictive conclusions.

To avoid being like a robot or zombie, start thinking before you speak.

When someone asks you a question of substance, you might think to yourself, “why did he ask me that? What does he want from me? Why was I asked?”

Even a few seconds of thought before responding will give you the edge, as you have left the area of predictability. You can consider the question, and respond after thinking…not automatically.

Learning How to Say ‘no’

The best way to learn to say ‘no’ is to not be so ready to say ‘yes’. You should always be polite in your response, but to say ‘yes’ you must think does the request carry any of the essential requirements:

• By saying yes am I furthering my personal development?

• By saying yes do I get some positive reinforcement? (reward)

• By saying yes am compromising my dignity in any way?

• By saying yes am I betraying important loyalties?

• By saying yes do I advance myself in a positive way?

There are other criteria, but the idea is to fight your programming, and ask yourself by agreement what the consequences are? Learn to say ‘no’, and you will see more coming to you than going from you

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Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/slovenia-property-investment-one-of-top-10-world-property-investment-countries.html http://www.articletrader.com/finance/real-estate/slovenia-property-investment-one-of-top-10-world-property-investment-countries.html Thu, 12 Jul 2007 00:00:00 -0500
With prices starting at just $50,000 and capital growth in excess of 30% per annum combined with the potential for significant rental income, it no wonder more investors than ever are looking at Slovenia property investment.

Capital growth potential

Investors in Slovenian property are currently enjoying capital gains of up to 30% per annum and this growth looks set to continue.

In the next decade capital growth was forecast at 278% by property specialist program “A place in the Sun” which has increased interest from property investors around the world.

Why Slovenia is hot

Since attaining independence from Yugoslavia and joining the EU, Slovenia has seen strong economic growth.

Tourism has been the fastest-growing sector of the economy and this has enabled it to produce the highest GDP of the new EU members.

Slovenia has become popular due to its variety of scenery; good infrastructure and a variety of airlines now offer cheap, frequent flights - making it easy and inexpensive to get to.

Natural Beauty

Slovenia is located between Austria, Italy, Hungary and Croatia and while a small country, it is beautiful and has something for everyone.

Slovenia features forests, vineyards, snow capped mountains, a beautiful stretch of Mediterranean coastline and some great baroque architecture.

Slovenia has a beautiful capital – Ljubljana.

The city has been described as a smaller and less crowed Prague and comes with stunning architecture.

A booming economy

Slovenia’s accession to the EU saw big changes in the economy, as Slovenia opened its doors to overseas property buyers.

Strong growth in GDP has been mirrored by growth in Slovenian property prices.

The capital Ljubljana offers the best returns on investment, with prices predicted to continue rising by around 30% per annum for many years to come.

The limited supply of housing and restrictions on land development are the main driving forces behind this growth.

The economic expansion in the capital which will see rentals soar – giving “buy to let” investors significant income, as well as capital growth potential.

Primorska on the Adriatic coast and the mountain district of Gorenjska are the next most expensive places to buy in Slovenia.

If you are interested in Slovenian property and cant afford these areas there are plenty more to choose from, as this is a market in its early stages of development and offers better risk to reward than the more mature markets that surround it.

Slovenia has a wide range of property investments to suit all tastes and budgets.

Property for sale in Slovenia with good capital growth potential can be bought from under $50,000 in many areas.

You can invest in ski apartments in areas such as the Julian Mountains, or in traditional country houses near the vineyards or finally, in the expanding urban areas.

In Conclusion, Slovenia Offers property investors:

A great opportunity to invest in a stable and growing EU member.

Slovenian property investment offers above average capital growth potential combined with significant rental income from “the buy to let” areas and finally, being an emerging market it’s highly affordable.

In part 2 of this article you will find some of the best new emerging destinations to buy in and also an in-depth look at the buying process.

Discover more about Slovenia and Slovenian property investment and see how it could change your financial future.

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Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/investing/make-money-fast-a-simple-method-anyone-can-master-part-1.html http://www.articletrader.com/finance/investing/make-money-fast-a-simple-method-anyone-can-master-part-1.html Thu, 12 Jul 2007 00:00:00 -0500
If you want to turn your dreams into reality, then you need to a specific way to do it.

The method does not involve much money and you don’t need above average intelligence.

Here we are going to give you a method anyone can master.

We are going to look at “the turtles” (don’t worry if you have never heard of them)

This was a group of people who were taught in 14 weeks to do a specific task and they went on to make millions.

What were they doing?

They were taught to be financial traders, before you say:

I couldn’t do that, or it would need a lot of capital consider this:

1. Trading is essentially simple

You can learn it just as the turtles did – all you need to do is learn the right knowledge

2. You only need some seed capital

You can get started with just a few thousand dollars and best of all you can make your money work harder by leveraging it.

3. Leverage

If you deposit money with a broker they will let you trade 100 – 400 times the amount.

If you have in your account so if you had $10,000 you could massively leverage your investment and trade over a million.

Now, leverage is of course a double edged sword.

While rewards can be fantastic, risk can be high to.

You therefore need to get the risk reward on your side and this involves trading with the right method.

4. Getting the RIGHT Method

You need to get the right method that will give you low risk and will let you run profits.

We will discuss breakout methodology ( used by the turtles ) and other tools of top traders in the next part of this article.

5. How Long will it take to learn to be a trader?

The turtles did it in 14 days of intense direction from legendary trader Richard Dennis.

While you may not do it so quickly, it should take no longer than a month to master the basics.

You will then have a method you can test to see if it will work.

Trading financial markets represents the final frontier of the free economy.

Trading is one of the few ways for small potato investors to start with small stakes and make money fast - compounding it quickly, to build real wealth quickly.


YOU CAN DO IT

Everything about financial trading can be learned.

You don’t need above average intelligence, just a burning desire to succeed, the ability to learn the right knowledge and some seed capital.

We will look at the methods of the great traders in part 2 and give you an insight into the knowledge you will have to learn, to make money fast trading global financial markets.

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Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/investing/currency-trading-make-money-fast-with-these-3-tips.html http://www.articletrader.com/finance/investing/currency-trading-make-money-fast-with-these-3-tips.html Thu, 12 Jul 2007 00:00:00 -0500
Here are your 3 tips for making money fast in currency trading:

1. Don’t Diversify

I read a lot about how diversification spreads your risk and it does, but it also cuts your profit potential.

If you are trading currencies and you are a small trader (under $50,000) diversification will simply ensure that you dilute your profit potentia,or worse help you lose.

When you see a trade that looks good (in line with your trading methodology) hit it hard and risk as much as you can.

You will hear a lot of advice saying you should risk 2 – 5% well you won’t make money that way! risking 5% on a $10,000 account is $500.00 and that wont get you much in the way of open positions.

Risk up to 10% and have the courage of your conviction.

Many currency traders try so hard to restrict risk, they never make any decent profits, as they place their stops to close.

This means they are bumped out of good trends even though they have the direction right, by normal volatility.

This is an error most novice traders make - they need to study standard deviation, but most don't even know what it means and they should - look it up and understand it fully if you want to trade successfully.

Don’t make this mistake.

If you think the above sounds risky it is – but currency trading involves taking calculated risks.

If you don’t like risk then don’t trade currencies.

2. Be Patient

If you are risking more per trade and not diversifying, then you need to be very selective in the trades you take.

Patience is the key.

Many FOREX traders think the more they trade the greater their chances of success, but the opposite is true.

You don’t get rewarded for how often you trade - you get rewarded for getting your trades right.

3. Trade In Relation To What’s In The Bank

Judge progress by what’s in the bank.

If you have had a good run you can afford to be a bit more aggressive (if conditions are right) and risk a bit more.

Generally, try not to have too many open positions, once you hit target bank and move on, this keeps you focused and is good for confidence.

Personally, I like to have only one or two trades open at any time

I will then shift position size and risk depending on how well I am doing.

It’s always easier to risk profits you have made than your own cash.

So there you have 3 tips to make money fast in currency trading.

Many currency traders will see the above is risky, but that’s the nature of currency trading:

Taking calculated risks when the conditions are right and waiting patiently for them.

Its logical and can and does make money fast.

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Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/investing/currency-trading-systems-5-tests-to-find-the-best-systems.html http://www.articletrader.com/finance/investing/currency-trading-systems-5-tests-to-find-the-best-systems.html Wed, 11 Jul 2007 00:00:00 -0500
So, how do you find one of the 5 percent of trading systems that make money – better yet, make big consistent profits.

Here are 5 tests you should apply, in order to find the best systems to incorporate in your Forex trading strategy - thus helping you and achieve big currency trading gains.

1. The Track Record

As the old saying goes, “the proof of the pudding is in the eating” - and the first place you need to start with any trading system is the track record.

Look for a system that’s been used by the vendor - and made real dollars, in real trading.

The problem is, you won’t find many systems that qualify.

You’ll normally be given a hypothetical track record. Although these systems haven’t actually been traded buy the vendor, you can see if they’ll work for you, by paying attention to the following points:

. Is it tracked in real time? Some ratings agencies do this and calculate profit and loss. This is almost as good as a real time track record - and well worth considering.

. If the system isn’t tracked in real time, then don’t buy it - move on!

Anyone can produce a track record knowing the closing prices - and most vendors do this - and hope you’re naive enough to buy it. The track records are simply made up, and not worth your consideration.

In conclusion, a currency-trading system either must make real profits, or be tracked in real time - to show that the logic that provides the trading signals is soundly based.

2. The logic

Make sure you understand the logic (even if the system is successful). The reason for this is, you must have confidence in the trading system’s ability to make money – even when it hits a losing streak.

If you don’t understand the system, then you won’t have confidence in it - and you’ll lack the discipline to follow the system. If you don’t have the discipline to follow a Forex trading system, then you don’t really have a system at all!

3. Personality

Some systems require you to make subjective judgements, whilst other systems are totally objective - you must decide which suits you the best. In addition, are you a patient trader? If so, a long-term system will suit you. If you’re impatient, then go for a swing trading system.

You also need to look at the worst peak to valley drawdown, using the systems track record. What is the worst loss you would have taken? - And how long did it take to recover?

Are you comfortable with it? Always assume the worst drawdown is to come - and be prepared for it.

Finally, how much work does the trading system need to operate - and do you have sufficient time to operate the system?

4. Find out about the vendor

How long have they been in business? Are they traders themselves?

Ask many questions - and carefully analyse the responses - to see if the vendor’s answers makes you feel comfortable.

Are they the type of people who you are comfortable working with? Do you think that you’ll get support when you need it? Start asking questions and you’ll soon find out!

5. Guarantee

Never buy a currency trading system without a guarantee of satisfaction.

Most vendors who have confidence in their system will give you a money back guarantee – and sufficient time to test the system. You should also carefully check the terms and conditions of the guarantee – and if you're not happy with them, pass the system by. Somebody will be offering another new trading system for sale before long!

Final Words

Successful currency trading systems are out there - you just have to find them. If you do find a good trading system, it can pay back the purchase price hundreds, maybe even thousands of times over.

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Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/investing/learn-forex-trading-4-key-points-for-success-part-1.html http://www.articletrader.com/finance/investing/learn-forex-trading-4-key-points-for-success-part-1.html Wed, 11 Jul 2007 00:00:00 -0500
Anyone can learn Forex trading - but most traders simply get the wrong Forex education and then lose their money.

Here are the 4 key points:

1. You’re On Your Own

There are many e-books and currency trading systems sold online, each of which promise you success – in return for spending a few hundred dollars. However, these books and systems wont help you win in Forex trading.

If you think about it, if these vendors were so good at currency trading, they wouldn’t need your money – they’d be too busy making money trading. They wouldn’t have the time, or inclination to sell you their winning strategies!

If you want to learn Forex trading, you’re on your own - and you need to devise your own Forex trading strategy, in order to achieve success. This is a lot easier than many traders think and is covered in part 2 of this article series.

There’s another advantage to building your own Forex trading strategy – which is:

You’ll understand the strategy, and it will suit your trading personality. This will lead to confidence in your method - which is essential, if you are to follow it through the inevitable losing periods.

It’s a fact that if you don’t understand and have confidence in your system, then you won’t have the discipline to follow it. Without the discipline to follow a trading system, then you don’t have a system in the first place.

2. Use Technical Analysis

When you start to learn Forex trading you need a methodology - and the best place to start is with Forex charts - and a system based on technical analysis.

Technical analysis works because human nature is constant - and chart patterns repeat themselves. This means we can trade the patterns for profit.

Many traders like to trade using news - but this is a critical error! Why? Quite simply, news is stories - and you can’t trade news for profit. The stories are interesting and convincing - and in most cases dead wrong.

The main thing to remember is that the Forex markets are a discounting mechanism - and news is instantly discounted in the price. This means that you are trading “old information”. The market moves on future perception - not what has just happened!

By simply looking at your Forex charts, and following price, you see the reality of prices now, and act on them - that’s what makes technical analysis so powerful.

3. Keep it Simple

Any currency trading system based on technical analysis should be kept simple. Simple systems work much better than complicated methods. Why? Because they’re more robust – they have fewer elements to break, in the brutal world of trading.

You should use trend lines, and just a few confirming indicators, to give you an indication of price momentum - and that’s it.

In currency trading, you get your reward for being right, and the success of your trading signals - not the effort you put in.

4. Patience and Discipline

You’ve probably heard that discipline is a key factor in successful currency trading - and it is, but don’t forget that you also need patience. You need patience to wait for the right opportunities to present themselves. You also need patience to trade through the losing periods. Finally, you need patience to make the huge gains.

Many Forex traders lack patience and discipline, and trade too often. They can’t follow a big trend – they get excited when they make a decent profit. In their excitement, they can’t resist taking their profit too soon - or move their stop to quickly. This leads to marginal profits - when they could have made a much bigger profit.

If you want to make money in Forex trading, then you need patience and discipline. Without patience and discipline, you’re certain to lose your money.

Finally

The 4 points above are critical to your currency trading success – especially when you’re starting to learn Forex trading.

So far, you’ve learned that you need to devise your own system - to gain confidence and discipline. Then, by basing your system on simple technical analysis, you have the basis of your Forex trading strategy.

Part 2 of this article continues your Forex education with the need for money management, the best trading methods, and how to trade the odds in order to achieve success in Forex trading.

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Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/investing/forex-charts-a-simple-3-step-method-for-huge-gains.html http://www.articletrader.com/finance/investing/forex-charts-a-simple-3-step-method-for-huge-gains.html Wed, 11 Jul 2007 00:00:00 -0500
Use Forex charts and follow these 3 simple tips for success:

Step 1. Understand Support and Resistance

If you want to make money in Forex trading, you need to understand support and resistance - and incorporate it into of your Forex trading strategy.

An important point to keep in mind is to only trade valid support and resistance - as market participants consider these important.

Firstly, forget about using support and resistance in short time frames – it doesn’t work. All volatility is random in short time frames - so if you’ve been thinking about day trading - forget it.

You need to look at your Forex chart, and see support and resistance that’s held for weeks or months - and already been tested several times. As a general rule look for five tests or more.

You then need to decide whether support or resistance will hold, or break - and this is the difficult bit for any currency trader.

Step 2. Trade with Momentum

Most currency traders simply see prices approach support and resistance - and buy or sell - hoping the levels hold. Try this, and you’re sure to lose money. You’re guessing, and hoping - and the Forex markets will wipe out the equity of any trader that does this!

To be successful with your currency trading system, you need to calculate the odds of levels holding or breaking. This means looking closely at the momentum, and strength of price.

For example, if price momentum weakens into resistance, then you can sell. If however, price momentum accelerates into resistance, then you should hold back - and wait for the break to execute your trading signal. This way you’re always trading with price momentum - and there are several indicators you can use.

Two of the best indicators are the stochastic and Relative Strength Index (RSI) – which we’ve already covered in previous articles.

If you use stochastic and Relative Strength Index in association with your Forex charts, you’ll gain a huge advantage - by getting the odds in your favour.

Step 3. Cutting Losses and Running Profits

Cutting loses is actually the easy bit - you place your stop when executing your trading signal behind the breakout point - nice and simple.

The hard bit is running profits - most traders simply cannot accept big profits. This may sound odd, as all traders want to run profits. However, few traders can manage to run profits - due to human nature. Why? Because Forex traders are so obsessed with not losing money, they can’t make big gains.

A trader will see a profit on his Forex charts and get excited and nervous at the same time – excited they’ve made a profit - and nervous they might lose it!

The Bigger the profit becomes the more tempted they are to take it - so they move their stop up to close - and gets taken out by normal market volatility. The trader may also snatch the profit, when the temptation becomes too much. Do either of these and of you’ll never make big gains.

You need the courage to hold your stop back - and accept dips in your open equity, as part of Forex trading. Sure, it’s not nice losing a thousand or more per day in open profit - but you need to keep your eyes on the bigger prize!

Look at any Forex chart, and you’ll see trends that can, and do, make Forex traders $10,000 to $50,000 – maybe even more. You just need the courage to hold on.

If you check your Forex charts for valid support and resistance, and trade with momentum on your side, and have the courage to run your profits – then you’ll make huge currency trading profits.

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NEW! 5 X Critical Trader PDF's & Much More

Claim your FREE PDF's and demo account and learn Forex Trading and also get: Breaking financial news, tight pip spreads, guaranteed stops $100.00 minimum investment and 400:1 leverage at http://www.freeforexguidesonline.com

Source: http://www.articletrader.com ]]>