Whether you’re a newbie or an experienced Forex trader, there is always going to be new information and strategies that can make or break your trading experience. The difficult question is, where do you go to learn these new techniques and get the support you need to trade successfully?
There are plenty of books, online guides, websites and blogs that each have their own theories and advice on Forex. The main problem with these resources is that they are usually only a one-way conversation, meaning that if you have a question you may have to wait for a reply if you even receive one at all!
This is why it’s surprising that no other Forex brokerage has offered 1-on-1 live coaching FREE for 60 days when you open and fund a live account…until now!
FXPRIMUS have launched an industry first in FXPRIMUS Coach, which provides an unmatched level of personal coaching and more for its clients. Backed by the FXPRIMUS Training & Education team, FXPRIMUS have dedicated expert coaches standing by to answer any and all questions you have on Forex inside the FXPRIMUS Coach platform.
There is a whole range of other services offered through FXPRIMUS Coach that I will go into more detail in another post. But for now you can experience FXPRIMUS Coach for 60 days for FREE if you have a live, funded account with FXPRIMUS.
To preview everything you get inside FXPRIMUS Coach just visit http://www.FXPRIMUS.com/coach?r=1009761.
P.S. In another industry first, FXPRIMUS also offer the most secure fund protection of any other brokerage in the industry. Here are two reasons why: http://www.FXPRIMUS.com/fund-safety?r=1009761.
Start trading today and get double your start up capital this means what ever amount you wish to start with this would be automatically doubled in your trading account, so why wait, this offer would close in about a week to get started Click here
if you want to become an affiliate Click here
Thursday 25 July 2013
How To Profit In The Forex Market: Identify Your Trading Style
You can't afford to ignore forex anymore.
It really doesn't matter who we are or what stage in life we're at. You could be in school and you can't seem to figure out the rules of global finance. You could be holding down a job but you desire to make a decent second income in your spare time.
Currency is in every facet of our lives, so why aren't you cashing in on it?
One of the Key elements of successful trading is having a specific strategy that tells you what to do. When you follow a concise strategy, nothing is left to emotional triggers and everything boils down to following the rules of the strategy.
Even with a successful trading strategy, some traders still seem to suffer consistent losses rather than consistent profits like their peers. This goes to show that pairing a successful strategy with your personality is far more important than blindly following an established trading strategy.
There are five categories of forex traders:
1. Scalpers
Traders who like fast action. They enter and exit the forex market multiple times a day, taking a few pips each time. With the need to react to market movements quickly, scalping is most suitable for traders who can devote their undivided attention and focus on the charts for a couple of hours at a time.
Additionally, Scalpers need the ability to think on their feet and switch the direction of their trades fast if the situation calls for it.
2. Day Traders
Day Traders don't like to hold a trading position overnight. They typically put on a trade at the start of the trading day and tend to close it before the day is over.
Unlike Scalpers who avoid the news, Day Traders love trading the news. Keeping abreast of the daily news releases actually helps them to plan their trades more effectively.
3. Swing Traders
Swing Traders normally hold trades beyond a day but never beyond a week. This trading style is most suited to part-time traders who have full-time jobs.
Swing Traders tend to be a bit more conservative that Scalpers or Day Traders. They typically wait for several confirmation signales before triggering a trade.
4. Position Traders
Position Traders have the longest time horizon of the different categories. The total opposite of Scalpers, Position Traders can sit on a trade for several weeks to several months.
Position Traders have a very strong grasp of market fundamentals and are able to spot changes that could lead to highly profitable long-term gains once trades are locked in. Depending on the currency pair, the profit potential per trade can range from 500 pips to several thousand pips.
5. Mechanical Traders
Usually beginners in the forex market, their main focus in trading the markets is not time driven but system driven.
After going through a period of trial and error, Mechanical Traders deem a particular strategy sound and focus only on the execution of that strategy based on its rules.
We are how we trade and we trade how we are. Your unique personality will cause you to trade differently from someone else.
The key here is to discover which category you are in. The FXPRIMUS Training & Education team have an online test that helps you determine just that.
Answer 25 questions to find out what kind of trader you are:
http://www.askmariosingh.com/traderquiz/?r=1009761
It really doesn't matter who we are or what stage in life we're at. You could be in school and you can't seem to figure out the rules of global finance. You could be holding down a job but you desire to make a decent second income in your spare time.
Currency is in every facet of our lives, so why aren't you cashing in on it?
One of the Key elements of successful trading is having a specific strategy that tells you what to do. When you follow a concise strategy, nothing is left to emotional triggers and everything boils down to following the rules of the strategy.
Even with a successful trading strategy, some traders still seem to suffer consistent losses rather than consistent profits like their peers. This goes to show that pairing a successful strategy with your personality is far more important than blindly following an established trading strategy.
There are five categories of forex traders:
1. Scalpers
Traders who like fast action. They enter and exit the forex market multiple times a day, taking a few pips each time. With the need to react to market movements quickly, scalping is most suitable for traders who can devote their undivided attention and focus on the charts for a couple of hours at a time.
Additionally, Scalpers need the ability to think on their feet and switch the direction of their trades fast if the situation calls for it.
2. Day Traders
Day Traders don't like to hold a trading position overnight. They typically put on a trade at the start of the trading day and tend to close it before the day is over.
Unlike Scalpers who avoid the news, Day Traders love trading the news. Keeping abreast of the daily news releases actually helps them to plan their trades more effectively.
3. Swing Traders
Swing Traders normally hold trades beyond a day but never beyond a week. This trading style is most suited to part-time traders who have full-time jobs.
Swing Traders tend to be a bit more conservative that Scalpers or Day Traders. They typically wait for several confirmation signales before triggering a trade.
4. Position Traders
Position Traders have the longest time horizon of the different categories. The total opposite of Scalpers, Position Traders can sit on a trade for several weeks to several months.
Position Traders have a very strong grasp of market fundamentals and are able to spot changes that could lead to highly profitable long-term gains once trades are locked in. Depending on the currency pair, the profit potential per trade can range from 500 pips to several thousand pips.
5. Mechanical Traders
Usually beginners in the forex market, their main focus in trading the markets is not time driven but system driven.
After going through a period of trial and error, Mechanical Traders deem a particular strategy sound and focus only on the execution of that strategy based on its rules.
We are how we trade and we trade how we are. Your unique personality will cause you to trade differently from someone else.
The key here is to discover which category you are in. The FXPRIMUS Training & Education team have an online test that helps you determine just that.
Answer 25 questions to find out what kind of trader you are:
http://www.askmariosingh.com/traderquiz/?r=1009761
Profit From Free Access To Professional Education And Trader Tools With Your FXPRIMUS Live Account
FXPRIMUS is a fully audited forex brokerage that serves traders from 205 countries across 6 continents.
The ISO 9001:2008 for Quality Management and ISO 27001:2005 for Information Security certifications make FXPRIMUS the only non-Swiss based forex brokerage to earn both designations.
FXPRIMUS is also the recipient of multiple awards in the banking and finance industry. Recent ones include Best STP Broker Asia 2013 and Best Trade Execution Asia 2013 awarded by Global Banking & Finance Review.
Licensed and regulated by the Financial Services Commission (FSC), FXPRIMUS is an award-winning platform created by traders for traders, without the limitations of other brokerage platforms.
All FXPRIMUS traders enjoy priority customer support regardless of account size, and you only need USD100 to start an account!
With FXPRIMUS, you can trade with peace of mind because they are a Straight Through Processing (STP) broker, which means no dealing desk and the most profitable trading for you.
Additionally, all FXPRIMUS traders get a trust account option regardless of account size, an industry 1st in fund safety for the retail trader.
When you open and fund your Live Account with FXPRIMUS, you will also receive 60 days FREE 1-on-1 coaching from FXPRIMUS Coach, and access to powerful trader tools to assist you in maximising your profits.
To see all the reasons why FXPRIMUS is the preferred brokerage of traders worldwide, click here:
http://www.fxprimus.com/en/why-fxprimus/reasons-to-trade-with-us?r=1009761
The ISO 9001:2008 for Quality Management and ISO 27001:2005 for Information Security certifications make FXPRIMUS the only non-Swiss based forex brokerage to earn both designations.
FXPRIMUS is also the recipient of multiple awards in the banking and finance industry. Recent ones include Best STP Broker Asia 2013 and Best Trade Execution Asia 2013 awarded by Global Banking & Finance Review.
Licensed and regulated by the Financial Services Commission (FSC), FXPRIMUS is an award-winning platform created by traders for traders, without the limitations of other brokerage platforms.
All FXPRIMUS traders enjoy priority customer support regardless of account size, and you only need USD100 to start an account!
With FXPRIMUS, you can trade with peace of mind because they are a Straight Through Processing (STP) broker, which means no dealing desk and the most profitable trading for you.
Additionally, all FXPRIMUS traders get a trust account option regardless of account size, an industry 1st in fund safety for the retail trader.
When you open and fund your Live Account with FXPRIMUS, you will also receive 60 days FREE 1-on-1 coaching from FXPRIMUS Coach, and access to powerful trader tools to assist you in maximising your profits.
To see all the reasons why FXPRIMUS is the preferred brokerage of traders worldwide, click here:
http://www.fxprimus.com/en/why-fxprimus/reasons-to-trade-with-us?r=1009761
Free Autochartist Chart Pattern Recognition Tool With FXPRIMUS
Autochartist scans through massive quantities of market price data automatically detecting predefined patterns as they form, saving time and effort for traders of all levels.
Autochartist makes it easier to trade successfully:
1. Automatically identifies real time, profitable trading opportunities.
2. Receive alerts of Chart and/or Fibonacci patterns, and Key Levels together with a forecast zone on completed patterns with a 70% success rate.
3. Trade pattern formations with the highest probability of success ranging from 60% - 80% using Our Favourites.
4. Get a technical outlook of the markets in your language using Market Reports.
Benefits of Autochartist:
#1 Automated Technical Analysis
- Autochartist saves time by continuously scanning financial markets and automatically alerting traders to actionable trade opportunities based on Chart Patterns, Horizontal Support and Resistance Levels, and Fibonacci Patterns.
- Never Miss an Opportunity: Receive real-time trade opportunity alerts both visually and audibly.
- Provides Forecast Levels: Eliminate the guesswork in setting profit targets. Autochartist does all the detail technical analysis work for you.
#2 Volatility Analysis
- No more guesswork in setting appropriate exit levels – our volatility analysis tool helps you to set instrument specific exits based on market volatility.
- Helps you trade appropriate instruments by showing you what instruments are moving in your time zone.
#3 Event Impact Analysis
Helps you to understand the impact of economic news events have on the Forex market to allow you to trade news with more confidence.
#4 Market Reports
Allows you to get a quick overview of the state of the markets before you start your analysis for the day.
#5 Our Favourites
Saves even more time by giving you only the best performing trading opportunities based on performance of the last 6 months.
#6 Performance Stats
Provides you with full disclosure as to Autochartist performance and allows you to perform your own analysis of Autochartist trade opportunities.
With such a powerful tool at your disposable, how can you not profit from The Safest Place To Trade?
Click here to learn more about Autochartist:
http://www.fxprimus.com/education-and-trader-tools/autochartist-tools?r=1009761
Signup for your FXPRIMUS Live account today:
http://www.fxprimus.com/open-an-account/open-a-live-account?r=1009761
Autochartist makes it easier to trade successfully:
1. Automatically identifies real time, profitable trading opportunities.
2. Receive alerts of Chart and/or Fibonacci patterns, and Key Levels together with a forecast zone on completed patterns with a 70% success rate.
3. Trade pattern formations with the highest probability of success ranging from 60% - 80% using Our Favourites.
4. Get a technical outlook of the markets in your language using Market Reports.
Benefits of Autochartist:
#1 Automated Technical Analysis
- Autochartist saves time by continuously scanning financial markets and automatically alerting traders to actionable trade opportunities based on Chart Patterns, Horizontal Support and Resistance Levels, and Fibonacci Patterns.
- Never Miss an Opportunity: Receive real-time trade opportunity alerts both visually and audibly.
- Provides Forecast Levels: Eliminate the guesswork in setting profit targets. Autochartist does all the detail technical analysis work for you.
#2 Volatility Analysis
- No more guesswork in setting appropriate exit levels – our volatility analysis tool helps you to set instrument specific exits based on market volatility.
- Helps you trade appropriate instruments by showing you what instruments are moving in your time zone.
#3 Event Impact Analysis
Helps you to understand the impact of economic news events have on the Forex market to allow you to trade news with more confidence.
#4 Market Reports
Allows you to get a quick overview of the state of the markets before you start your analysis for the day.
#5 Our Favourites
Saves even more time by giving you only the best performing trading opportunities based on performance of the last 6 months.
#6 Performance Stats
Provides you with full disclosure as to Autochartist performance and allows you to perform your own analysis of Autochartist trade opportunities.
With such a powerful tool at your disposable, how can you not profit from The Safest Place To Trade?
Click here to learn more about Autochartist:
http://www.fxprimus.com/education-and-trader-tools/autochartist-tools?r=1009761
Signup for your FXPRIMUS Live account today:
http://www.fxprimus.com/open-an-account/open-a-live-account?r=1009761
Professional Trading With MYFX Console
As a client of FXPRIMUS, you have access to Professional Trader Tools that give you an unfair advantage over traders elsewhere.
One of these tools is MYFX Console.
With MYFX Console, you can trade like a pro!
The MYFX Console is a premium trading console for MetaTrader 4 that is comparatively as powerful or even superior to what many hedge fund managers and institutional traders are using.
It offers one-click trading and advance stop loss settings as well as other convenient trade execution features including:
- Default Trade TP/SL
- Click Break Even
- Click Close Trade
- Close All Trades Button
- See your risk per trade
- Time Trade Opened
New traders can enjoy the way MYFX simplifies the trading process by providing all relevant information in a clear, comprehensive way.
Advanced Forex traders will appreciate the ability to customise each trade and to streamline their trading process with one-click executions.
The powerful features available on MYFX have made it an indispensable platform for countless traders around the world.
Licenses for MYFX cost $249 per year. But as a client of FXPRIMUS, you can qualify for a 1-year MYFX license for FREE by simply funding your account with USD1,000 or equivalent.
For more information about how MYFX gives you an advantage over other traders, click here now:
http://www.fxprimus.com/education-and-trader-tools/myfx-console?r=1009761
One of these tools is MYFX Console.
With MYFX Console, you can trade like a pro!
The MYFX Console is a premium trading console for MetaTrader 4 that is comparatively as powerful or even superior to what many hedge fund managers and institutional traders are using.
It offers one-click trading and advance stop loss settings as well as other convenient trade execution features including:
- Default Trade TP/SL
- Click Break Even
- Click Close Trade
- Close All Trades Button
- See your risk per trade
- Time Trade Opened
New traders can enjoy the way MYFX simplifies the trading process by providing all relevant information in a clear, comprehensive way.
Advanced Forex traders will appreciate the ability to customise each trade and to streamline their trading process with one-click executions.
The powerful features available on MYFX have made it an indispensable platform for countless traders around the world.
Licenses for MYFX cost $249 per year. But as a client of FXPRIMUS, you can qualify for a 1-year MYFX license for FREE by simply funding your account with USD1,000 or equivalent.
For more information about how MYFX gives you an advantage over other traders, click here now:
http://www.fxprimus.com/education-and-trader-tools/myfx-console?r=1009761
Stay Ahead Of Market Trends With Weekly Market Outlook Webinars By FXPRIMUS
As a client of FXPRIMUS, you have access to Professional Trader Tools that give you an unfair advantage over traders elsewhere.
One of these tools is weekly Webinars.
You don’t have to spend precious time to monitor, determine and decode important market news, because the experts at FXPRIMUS do it for you!
All you need is to invest just 1 hour every week to listen in to the Weekly Market Outlook LIVE Webinar by FXPRIMUS.
Conducted by FXPRIMUS Economist, Jimmy Zhu, these webinars feature analysis by CNBC-featured expert and FXPRIMUS Director of Training & Education, Mario Sant Singh, as well as Jimmy’s own analysis.
You will:
1. Stay ahead with Mario's and Jimmy’s Market Research: understand which economic news to look out for, and receive their professional opinion on what this news mean to you.
2. Find out which specific Currency Pairs are likely to be affected by this news and how they are likely to behave.
3. Get detailed Chart Analysis on these pairs.
4. Profit from Mario's Trade Calls on these Currency Pairs, with specific Entry Prices, Stop Losses and Profit Targets.
5. Ask Mario and Jimmy any question about the Weekly Market Outlook LIVE during the webinar.
All these benefits come to you FREE as a client of FXPRIMUS.
To find out more about this week’s LIVE webinar with financial experts Mario Sant Singh or Jimmy Zhu, click here now:
http://www.fxprimus.com/education-and-trader-tools/webinars?r=1009761
One of these tools is weekly Webinars.
You don’t have to spend precious time to monitor, determine and decode important market news, because the experts at FXPRIMUS do it for you!
All you need is to invest just 1 hour every week to listen in to the Weekly Market Outlook LIVE Webinar by FXPRIMUS.
Conducted by FXPRIMUS Economist, Jimmy Zhu, these webinars feature analysis by CNBC-featured expert and FXPRIMUS Director of Training & Education, Mario Sant Singh, as well as Jimmy’s own analysis.
You will:
1. Stay ahead with Mario's and Jimmy’s Market Research: understand which economic news to look out for, and receive their professional opinion on what this news mean to you.
2. Find out which specific Currency Pairs are likely to be affected by this news and how they are likely to behave.
3. Get detailed Chart Analysis on these pairs.
4. Profit from Mario's Trade Calls on these Currency Pairs, with specific Entry Prices, Stop Losses and Profit Targets.
5. Ask Mario and Jimmy any question about the Weekly Market Outlook LIVE during the webinar.
All these benefits come to you FREE as a client of FXPRIMUS.
To find out more about this week’s LIVE webinar with financial experts Mario Sant Singh or Jimmy Zhu, click here now:
http://www.fxprimus.com/education-and-trader-tools/webinars?r=1009761
Priority Customer Support Regardless Of Your Account Size With FXPRIMUS
Bigger accounts like Standard accounts receive better customer care, while smaller accounts like the Mini and Micro accounts receive less customer support.
FXPRIMUS thinks differently.
Founded by a group of institutional and retail traders, FXPRIMUS believes that every trader deserve the best possible customer support for long-term trading success, which translates into a long-term customer for them.
This is why at FXPRIMUS there is also no categorization of Standard, Mini or Micro accounts.
You get Priority Customer Support, regardless of your account size.
You can easily reach any of their Customer Support Representatives via live chat or email, 24 hours a day, 5 days per week.
You can count on them to respond to your email queries within 12-24 hours, and to approve your new account within one business day.
FXRIMUS has expended a great deal of resources on their Customer Service team and they are standing by ready to assist you.
To find out more about the Priority Customer Support you get at FXPRIMUS, click here
To start making money online click here
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