Day Forex System Archives

Forex Mentor – Live Trading

Monday, April 26th, 2010 at 6:27 am  
Comments (1)

A Forex Mentor Will Put Your Trading On Steroids

If you want to learn forex trading or perhaps you are a seasoned forex trader but are struggling to succeed, do yourself a favour and use a forex mentor. You will be amazed at how they can turn your trading around.

The world of forex is very exciting; the thought of making lots of money, being able to give up the day job and become a professional trader, the dream of many when they start out, oh if is was that easy. There is lots of money to be made and it can be the end of the day job, but before success can be achieved there is one major hurdle to overcome.

Forex trading appears to be easy, and it is in a lot of respects, you can open an account in a matter of minutes with a couple of hundred, and you can start placing orders instantly. If only it was as simple to start making loads of money. To be successful does require a lot of time, patience and discipline, like anything you have to work at it to achieve the end result.

One of the major stumbling blocks and the reason there is only 5% of people who are actually successful at forex is fear and greed. The 5% have managed to conquer these human failings and that is the difference. Forex mentoring can give you the edge needed to overcome this aspect of trading, which is why they are worth their weight in gold.

Most people learn to trade via a course which may cost thousands of dollars that lasts for a few days or weeks, this can be fine for the basics, it is not necessarily going to make you a successful trader. By having a forex mentor you have access to a professional trader who is teaching you on a daily basis for months on end till you decide you can go it alone.

There is no greater way to learn than having access to the mentor all the time, you can ask questions whether in a live situation via webinar or via email. There are professional traders that hold live webinars, where you get to trade along side the trader, make the same trades he is doing on your own computer. Then there are traders that give you a daily video on what he see as the next days market moves, with suggested entries and why these are high probability trades.

Learning in this environment teaches you the discipline required to follow the trading system to the letter, when you can do this the fear and greed are no longer an issue, your trading becomes robotic, having 5 losing trades in a row doesn’t faze you, 5 winning trades in a row doesn’t get you excited and think you are bullet proof, achieve this and you will be able to give up your day job.

People enter the forex market to make money, very few succeed, if they took the time to learn forex trading through a professional forex mentor they would be better equipped to achieve their goal. There are professional forex mentors out there that charge from as little as $50 per month for their services, you can make this money back in 1 or 2 trades.

Which would you rather be, making 100’s of pips per month or losing your entire trading account and never becoming a successful trader?


day forex

Real Live Trading with a Forex Pro

Friday, February 26th, 2010 at 8:40 am  
Comments (6)

Trade live alongside a professional Forex System Trader and profit from the same market moves!

If you want the excitement of  trading on the 5 – 15 minute and 1 hour time frames then this is for you.

Very few forex currency traders are willing to actually trade live with you. There are a lot of so called forex gurus out there selling their products and showing you on video how they took this and that trade after the event, but how many of them will run a live webinar for several hours a week, taking live trades on there own accounts right before your eyes…. Not many.

This was what excited me most a chance to trade live with a professional trader, you will be amazed at the difference this will make to your trading.

Earn as You Learn in Live Trading Conditions

  • ¤ Learn forex currency trading in real time from a professional forex trader
  • ¤ Beginner or experienced traders watching live trading – real money – real results
  • ¤ Trade live on your own computer own account with a professional trader at your side
  • ¤ Watch an attempt to trade $1800 up to $50,000 in full view on your screen
  • ¤ Learn the methods, tips and tricks of a Forex “guru” in live conditions
  • ¤ Get your FX  trading questions answered real time
  • ¤ Trade 6 – 8 hours live twice a week from late Asian session to the early new York session
  • ¤ Learn 3 proven systems suited to all types of traders.  The t24 set and forget , G7 Intrad Day Forex  System, the e75 15 minute system and the adrenalin rush 5 min strategy.
  • ¤ All live session video recorded for later review

If you are just starting out or have been trading for a long time, there are always areas of our trading that could be tweaked. This is an incredible opportunity. It is the live webinars that offer the chance to question every move, ask the reasons for the entry and exit.  To watch real trades being placed on the traders deal station

It is amazing how beneficial that can be in trying to harness your emotions and discipline. Watching the live account rise and fall and knowing that even the experts don’t have all winning trades, all their before your eyes in real time, nothing can beat this method of learning forex trading With any forex system whether it be day forex system trading or intraday forex, there will be times when the market will not suit the system you are trading, this is why it is important to have several systems in your trading tool box, this way you will have strategies to cover the  various market conditions that are for ever changing.

With this forex trading offer you will be learning 3 different forex systems

Trade on a free forex demo account until you feel comfortable, a good way to test the strategies without the stress.

A good “Money Management” tool will help you to work out your trade sizes fast, this free  calculator can sit on your desk top for easy access.

Reserve your seat as the live forex trading sessions are limited.

Full 60 day money back guarantee, a good reason join, you won’t be disappointed.

It’s like having your very own personal mentor.


day forex

Money Management – Forex Day Trade

Friday, February 26th, 2010 at 8:31 am  
Comments (3)

Your survival in the Foreign Exchange Market is determined by your ability to follow strict money management rules, without them you are doomed to failure.

If however you follow good money management rules, it is virtually impossible to fail, assuming you have a sound trading system. Trader psychology is the greatest enemy of the forex trader. Everyone hopes to get rich Right now. If you pursue that mentality you may as well hand all your cash over to the broker today as you will surely lose in the long run.

Money Management is the major component that determines your success or failure when it comes to any forex trading system. When you don’t have a money management strategy then you are destined to failure. Bottom line When you have no money left you simply cannot be a forex trader!

Without distinct rules trading forex is the same as gambling. For most people that trade without rules, that is precisely what they’re doing. Sure they are going to have successful trades, but they will certainly hit a bad patch at some time that more often than not will wipe them out.

Money management rules I have adopted:

1. If you are starting out with a small account never ever risk more than 5% (maximum) on  any trade.
2. When you take a couple of trades or correlated trades simultaneously ie the eur/usd and the gbp/usd then 5% would be       the maximum exposure you should have for both trades.
3. If it is a counter trend trade never risk more than 2.5% maximum.
4. Always plan the trade and place a stop loss on entry.
5. Plan your take profit exit before you enter the trade.
6. Never take trades with less than a 1:2 risk reward ratio. For example if the stop is 30 pips, then the trade has to be able to make 60 pips.
7. If you have 2 losing trades in a row, cut your risk back to half.
8. Should you lose 3 in a row cease trading for the day and analyze your decision to take the trade. Next day either start with on 1.5% risk or go back to a demo platform, but remember stick to the rules.
9. If you have 3 wins in a row revert to 2.5%, that way you will not lose all the profit you have just made.
10.  when you get back to a 60% win/loss ratio, return to 5% maximum

As you account grows reduce your risk per trade till you are trading around 2-3% per trade.

Whether you are using a forex day trading  system or  an intra day forex system you are trying to identify repeatable patterns in the charts, these do not happen everyday, you need to have patience, if the market is not giving you a trade walk away and you live to trade another day, it will always be there tomorrow.

Have a trading plan and stick to it, no exceptions, and follow good money management rules. This forex currency calculator will keep you in check.


day forex

Learn to Trade FOREX

Tuesday, February 23rd, 2010 at 1:33 am  
Comments (3)

Keys to Forex Success

The Foreign Exchange (Forex) Industry is estimated to turnover $3 trillion dollars everyday. If you hope to be part of the action, you will need to get educated and really know what you are doing. The surest way for you to gain an edge, maximize profits and minimize losses is to know the market and how it works.

The Forex industry was and still is the domain of the big players. They consist of commercial banking institutions, central banking institutions and multinationals involved in foreign trade, along with big investment funds and corporations. On top of that, private people with large capital assets also common participate. However more and more small players are entering the industry.

To swim with the sharks you need to be well equipped. In other words, you must have a good solid trading system from the start.

There are two different kinds of analysis employed in the foreign exchange market…technical analysis and fundamental analysis. Technical analysis is generally used by the smaller players. Here, the analysis focuses on charts… price action. Fundamental analysis is employed by the big banks and corporations; this kind of analysis is more complicated and looks at many additional factors which may impact the value associated with a currency.

Common terms used in the currency market.

Pips refer to the increase of one hundredth of a percent of the price of the actual currency pair you’re trading.

Volume is the actual amount or sum of money being traded at anyone time in the market place.

Buy – Buying is the purchase of a particular currency. A trader buys with the hopes that the cost of the currency will increase.

Sell – Selling is placing your bundle of currency out for another individual to purchase because you expect a possible decrease in its value.

The Forex trading system you choose needs to be closely matched to your individual personality, what type of Forex trader are you? There are many day forex systems out there, no one system will work in all market conditions, therefore having a few systems that cover the various market conditionsis a must.

Be sure to perform paper trading until you are comfortable with the forex system you are working with. This is really a smart way to build your own trading expertise, learn how the market performs and get comfortable with the software as well as tools you will be using.

Select a reputable broker, do your own homework… check that there’re registered and in good standing. And check their reputation within the industry.

Forex trading may seem easy and manageable, but the psychological anxiety, the needs and challenges associated with being a Forex Trader can take its toll. Success is about having a game plan, money management and discipline, as well as a profitable day forex system trading strategy.


day forex

Do Follow Blog, Comment Luv, Keyword Luv & Top Commenters

Friday, February 5th, 2010 at 12:59 pm  
Comments (9)

• Looking for regular “follow” links to your site? This site is running commentluv, keywordluv and top commenter, thus rewarding those who leave quality comments with backlinks.

Please Note:

Don’t wast your time adding useless comments, all low quality comments will be deleted,  simply keep on topic  to the original post, and your comment will be approved.

I want to give you links but unless you add to the discussion I can’t give you links. It is a win win for both of us if you respect the request to add valuable comment.

day forex

Disclosure Statement

Thursday, February 4th, 2010 at 2:51 am  
Leave your comment

Disclosure:
I am an affiliate to one of the companies I link to on this site, however, I have not been given free products or been paid for any reviews.  While I do receive commissions from one of the companies on this site, I carefully select any company I link to and I believe them to be in full compliance with FTC laws. My commission in no way adds to the cost of the product or service to you.

Disclaimer: Any responsibilities and liabilities in/re the products and companies I link to are the sole responsibilities of those companies.


day forex

Privacy Policy

Thursday, January 28th, 2010 at 7:48 am  
Leave your comment

Our Commitment To Your Privacy

Your privacy is important to us. To better protect your privacy we provide this notice explaining our online information practices and the choices you can make about the way your information is collected and used. To make this notice easy to find, we make it available on our homepage and at every point where personally identifiable information may be requested.

Our Commitment To Data Security

To prevent unauthorized access, maintain data accuracy, and ensure the correct use of information, we have put in place appropriate physical, electronic, and managerial procedures to safeguard and secure the information we collect online.

Our Commitment To Children’s Privacy

Protecting the privacy of the very young is especially important. For that reason, we never collect or maintain information at our website from those we actually know are under 18, and no part of our website is structured to attract anyone under 18. Under our Terms of Service, children under 18 are no allowed to access our service.

Collection of Personal Information

On visiting this site, the IP address used to access the site will be logged along with the dates and times of access. This information is purely used to analyse trends, administer the site, track user’s movement, and gather broad demographic information for aggregate use. Importantly, IP addresses are not linked to personally identifiable information.

Links to third party websites

We have included links on this site for your reference. We are not responsible for the privacy policies on these websites.

lterations to this Privacy Statement

The content of this statement may be altered at any time.

Have a question? Just contact me at dayforex@dayforexsystemtrading.net

t24 day and e75 intra day forex systems


day forex

Contact Us

Thursday, January 28th, 2010 at 7:46 am  
Comments (1)

If you have any questions regarding the content in this website, about the products that are mentioned, or just any questions at all don’t hesitate to contact me at the following address. I’d also love to hear any feedback on the site if you’ve found it helpful or have some ideas about how I can improve the site in some way.

Please contact me at  dayforex@dayforexsystemtrading.net
I will reply to all messages as soon as possible.

e75 live trading t24 set and forget


day forex

About

Wednesday, January 27th, 2010 at 8:44 pm  
Leave your comment

dayforexsystemtrading.net is dedicated to providing quality information on the subject of forex trading and in particular, on the various currency trading products and services that are I have personally used.

Here you will find helpful reviews, informative information and tips and much more. This site is in the format of a ‘weblog’ so that each time I post new information, it will come to the top of the front page. This means that you can check back here frequently to see new updates to the information found here.

You can navigate through the site by using the menus on the sides of the page. Also don’t hesitate to follow the links you see in bold throughout each post to learn more about the product being spoken about.

I hope you find the information I provide valuable and helpful.

Much Success

Michael Johnson

T24 Set and Forget forex!


day forex