How BETRAS swing trade last week. enjoy the video

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Safe Money Management – A Forex Traders Key To Success

No matter how successful a forex day trading strategy may be, you must practice sound money management to trade the forex successfully and more importantly to be around for the long haul! Anyone or any strategy can have a very profitable period . A time when you the trader feel unconquerable, you might even feel like all your forex woes have been solved ! But what usually comes next? Unavoidably you experience a series of losses as any system does. You see, even with a 75% win ratio you can still conceivably have ten losing trades or more in a row. When you flip a coin the prior outcome does not have a bearing on the next, neither do prior trade outcomes dictate the odds on the next trade, it is in fact completely separate from all previous trades. With this knowledge you have to prepare for the worst, you have to be around long enough to realize your dreams of making a living in the forex market and the key to that is safe money management.

So lets discuss safe money management as it applies to day trading forex . Without a doubt the first step is selecting an appropriate risk per trade the fits you and your trading style . Most full-time forex traders recommend risking no more than 2% of your account value on any one given trade setup . So if you have a 10K account you would risk no more than $200 on any one trade setup. If you are getting into a trade and need a 20 pip stop loss you can safely use 1 standard lot (20 pips X $10 per pip = $200). If you are using a 40 pip stop the lot size would be cut in half from the previous example to 5 mini lots and you would still have the same 2% risk (40 pips X $5 per pip = $200).

Let’s discuss now the mental effect of forex trading and how proper money management plays a role in your trading decisions. Using a proper risk per trade such as 2% enables a trader to be emotionally disconnected from any one given trade, thus allowing you to make wise decisions on your entries and exits which dramatically improves your chances of making a profitable trade as well as managing it properly . It also allows you to work through the draw downs with the confidence to stick to the rules of your strategy, knowing that the correct money management will pull you out , and allow the profitable system to get back to overall profit. Every forex trader goes through trades where they over leverage , only to see the trade go against them. Have you ever been there? Palms are sweating, your heart is beating 100 beats per minute, and heaven forbid you try to sleep! When you enter a trade with the knowledge that the worst thing that can happen is you lose 2% of your equity, you breathe a sigh of relief. Your head will be clear to examine the market for an entry , and just as important you will be able to manage a running trade without the emotions of excessive fear and greed clouding your judgement . You see money management not only protects your forex trading account, it allows you to make logical trading decisions based on your forex trading strategy not fear, and thus increases your potential for profit.

Above all the entire goal of most everyone who begins to trade in the forex market is to make this a full time career . Still there are some that simply want to supplement their income. No matter what category you fall into, you no doubt want long term success in the forex market, not simply a lucky month or two . You can however enter trades with high risk and think of this market as a get rich quick scheme but I can assure you, this way of trading forex will lead to the fast demise of your trading account. You will be able to day trade and scalp the forex market for years to come , so why try to hurry it with extreme leverage when you can profit slowly overtime and actually give yourself a chance of becomming successful? Patience will enable you to apply the proper money management and will catapult you toward consistant success in the long run! For more information on learning how to day trade the forex market,

BROKER2 FOREX ANTARABANGSA AKAN DIBENAR MEMBUKA CAWANGAN DIMALAYSIA

Urus niaga borong mata wang asing elektronik Julai

KUALA LUMPUR 25 Jun - Broker elektronik asing akan dibenarkan menawarkan platform pembrokeran secara elektronik untuk urus niaga borong antara bank dalam pasaran pertukaran mata wang asing Malaysia mulai 1 Julai 2010.

Menurut kenyataan Bank Negara Malaysia (BNM), inisiatif tersebut bertujuan menambah penyertaan peserta baharu dalam pasaran pertukaran mata wang asing bagi meningkatkan lagi kedinamikan dan daya saing pasaran tersebut Fleksibiliti ini akan menggalakkan aktiviti urus niaga yang lebih pesat kerana platform pembrokeran secara elektronik dapat meningkatkan ketelusan, menambah baik kecekapan pasaran dan mengurangkan kos urus niaga peserta pasaran.

''Broker elektronik asing yang berminat untuk menyediakan perkhidmatan tersebut di Malaysia boleh mengemukakan permohonan kepada BNM selaras dengan peruntukan dalam Akta Bank dan Institusi-Institusi Kewangan 1989,'' katanya.

Tambah kenyataan itu, dalam membuat penilaian terhadap kelayakan permohonan, kriteria berikut akan diambil kira pemohon mestilah syarikat yang diperbadankan di Malaysia.

''Selain itu, pemohon mestilah mempunyai rekod prestasi yang kukuh di peringkat antarabangsa; serta mestilah mempunyai cadangan perniagaan yang boleh laksana bagi menyumbang kepada pembangunan pasaran pertukaran asing di Malaysia.

''Pemohon juga perlu mempunyai keupayaan sistem serta infrastruktur bagi menyokong perniagaannya, termasuk menangani sebarang keadaan luar jangkaan dan mempunyai prosedur pemulihan bencana,'' jelasnya.

Untuk maklumat lanjut boleh diperoleh dengan menghubungi atau permohonan, Pengarah Jabatan Pembangunan Sektor Kewangan, Bank Negara Malaysia, Jalan Dato' Onn, 50480 Kuala Lumpur.

Selain itu, orang ramai boleh menghubungi talian 603 - 26919885 atau 603-26907593 dan faks 603-26913661 serta email feb@ bnm.gov.my

What *IS System Trading? ... And Most Importantly, Can It Make Me Money?

Courtesy of Investopedia, System Trading is simply a group of specific rules that determine entry and exit points for a given equity. So what are the benefits of system trading?

System trading takes the emotion out of trading - Emotion is one of the biggest flaws of individual investors. Investors who are unable to cope with losses second guess their decisions and end up losing money. By strictly following a pre-developed system, system traders can forgo the need to make emotional and sometimes-reckless decisions. By cutting down on human inefficiencies, system traders can increase profits.

System trading is a major time-saver - Once an effective system is developed and optimized, little to no effort is required by the trader. Computers are often used to automate the signal generation so the trader is freed from spending time on analysis.

System trading often does most of the 'heavy-lifting' - Development, analysis, and programming are all done for you and ready to use pretty much out of the box. With system trading, you can learn the rules and trade profitably WITHOUT the costly and time-consuming act of 'trial and error'.

Simply put, system trading has the potential to free you from your burdensome day-job by supplementing and sometimes REPLACING your full-time income. Now, I'm not saying that every system trader is gazillionaire - that would be nuts! What I am saying is that if done properly, and given the 'right' set of tools - there's just NO reason why you can't trade successfully.But you can't just follow any old set of blueprints, right? It's got to be custom tailored to your needs, flexible to suit a variety of situations, and most importantly easy to learn and really delivers on the performance.

HEI, TRADERS YOU MUST READ THIS, THE SINCERE TESTIMONY FROM USTAZ RIZAL ALI

I am not an expert in Forex trading. I can tell you that. I started practicing trading Forex using dummy account from two famous Forex brokers using just one indicator given to me by a very sincere friend who have shed me some light on how to trade in Forex online. Being an amateur, the indicator was quite a good one actually and it does help me a lot in predicting the market fluctuation. During my trading using the dummy account, I doubled my equity in just three days, amazingly remarkable indeed, but then, lost it in the week after, sigh.
Then I started again training myself as well as trying to understand the Forex market fluctuation attitude. I started changing pairs in attempt to find a few performing pairs to trade, of course I didn’t actually know what is backtesting back then. Then, I started to develop my own style and tried to establish my own so called “Trading Plan”. It was a very simple one really; no stop loss and no take profit. Whenever the market jump on high (bull) or low (bear), I get onboard and of course, the volume of lots put was based on what I believe will maximize my profit without calculating the risk. Risk management was absolutely next to nonexistent. You can see how nasty it was trading without knowledge. I never knew how to trade base on any whatsoever technical analysis. Fibonacci, RSI etc was so alien to me and it still is until now. I have no formal training in whatsoever way to actually trade in the Forex market as it does to any other traders. One indicator and that’s it.
Even so, I started my real live trading exactly in December 2009 with a very modest capital of USD500.00. To be very frank, I lost all of my money in less than 1 week. The emotional and psychological state at that time is unexplainable. Depression hit me and I finally know the reality of Forex trading. But the lost didn’t stop me from keep on finding a better way to trade. Bear in mind I have no knowledge in doing any of the technical analysis stuff. I put in more equity to my account, and this time I put in USD1,000.00. Using the same indicator and a few changes on the “Trading Plan” I started to trade again. Giving myself full commitment of 24 hours of my time to trade, I lost all of that equity in just two weeks. Whoa..!!!
At that time, I realize that I have no other choice but to learn and upgrade. I then went to see my friend, the one who gave me the indicator, trying to seek some advice on the issue. To my surprise, he actually has developed a complete package for Forex trader that covers all of the things any Forex trader ever needed. This is great..!!
He then explained to me on what actually any trader need to trade. Three things he said, Mental, Money Management and Method. Hmmm… Very interesting indeed..
I started to use his package in February 2010, and the result was amazing. That month my trade achieved a stunning 73% winning rate trading with two pairs. I maintained the same pairs on the subsequent month with a winning rate of 67%. Using the method he developed, I managed to do a real and reliable backtesting to track good performance pairs. By the end of May, my winning rate dropped to 33%, I believe it was due to the Greece debt crisis, but even so, the overall equity is still positive. In June, I started to trade 5 high performance pairs and to date the winning rate is still at 85% with 2000 accumulated pips.. Not bad for someone who doesn’t even know how to do basic technical analysis I would say…
Me, an expert Forex trader, nah… But now, I trade with accurately calculated risk, I have a trading log that tracks all of my trades, doing backtesting is ultimately more reliable than ever, trading is never so confident, and above all, I can now actually trade with a peace of mind…
The package is Betras Swing Method. It works for me, it should work for you…
Get the information, visit : http://betrastrade.blogspot.com/
And that friend is none other than Mr.Romzan Miskon… Thank you my friend…

ARE YOU THROWING TOWEL TRADERS ??????????????

Why almost 95% traders talk about tecnical analysis and indicator? why only 5% traders discuss more about the risk&money management and trading physcology? That is why 95% traders failed...........they only talk about tecnical and indicators, fib, MACD, bolinger band etc,.....etc that only covers 10% from overall trading systems!!!!!!!!!!!!!1. That the fact

THERE IS NO HOLY GRAIL TECNICAL ANALYSIS AND INDICATORS!!!!!!!!!!!!!!!!!!!!!!!

EXPANDING YOUR THINKING

No matter how long you trade, there will always be opportunities available to expand your thinking…your thought process. Sometimes, what someone says can cause an entire paradigm shift.
Without question, most of what you will hear and read will be fluff. Simply slick marketers looking for a fish to hook. You know the headlines “Ex- Bank Trader Reveals His Secrets”. You see titles like that, run. A load of garbage. There is no super secret. There is no grail.

Occasionally, there will be those who have something useful to offer. I sit in on a lot of webinars, well, not a lot, but some. At times, there is a jewel. Sometimes, it is just to refresh what I already believed. One such Free preview is coming up this Sunday June 6 @ 2.00pm to 5.00pm. To be honest, it may be a little “pitchy” as I do open my mentorship from time to time. However, topics such as the following are on the agenda:

1. Unique position sizing based on the combination of a percentage risk stop and technical stop.

2. Two simple tricks that instantly remove 95% of your emotions in trading and investing.

3. Why money managers only risk 1-2% per trade and still make great returns.

Pretty top notch topics wouldn’t you say?

I hope you take advantage of this freebie. I always say, I don’t mind spending an hour of my time for 1 nugget. 1 nugget is all it takes to take you from barely making it….to making it