FOREX Portal - Take your trading to the next level of profitability http://www.effectivefx.com 2012-02-06T17:16:57+01:00 http://www.effectivefx.com http://www.effectivefx.com/images/M_images/effectivefx_smlogo.png text/html 2006-11-08T10:32:43+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading-Systems/Developing-a-Trading-Plan.html Do you want to be in the top 5% of investors? Quick - grab a pen and paper and get writing. A trading plan can provide you with the sound framework that you need to succeed in the sharemarket. In this article, Louise Bedford highlights what to include in your plan, when to enter and exit your position in the sharemarket and the key to managing risk. text/html 2006-10-20T10:03:01+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading/Are-There-Optimum-Indicator-Parameters.html A question asked by both professional and private traders alikeI have been training traders for around 15 years and perhaps the most frequently asked question of all goes something like: What parameters do you use for your moving averages? My sincere and honest response is that I don't use any in my analysis and if I did there is no such thing as an optimum parameter … except in hindsight. However, hindsight is not much worth to us right now. text/html 2006-10-20T09:58:03+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading/Do-Candlestick-Charts-Work-on-Forex-Charts.html The limitations of candlestick patterns in ForexThe quick answer is both Yes and No .Candlestick charting was first developed by Japanese rice traders and can be traced back several hundred years in the 18th century. According to Steve Nison, candlestick charting first appeared sometime after 1850. Much of the credit for candlestick development and charting goes to a legendary rice trader named Homma from the town of Sakata. It is likely that his original ideas were modified and refined over many years of trading eventually resulting in the system of candlestick charting that is used today. text/html 2006-09-10T16:18:24+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading-Systems/How-to-Make-Big-Profits-with-Currency-Trading-Systems.html Currency trading systems have become more popular than ever in recent years. Here we will look at the advantages of currency trading systems and how to pick one that's right for you. Trend Following the Key to Big Profits As economic cycles of boom and bust take years, so do currency trends that mirror the health of the economy. Traders who can spot and lock into these trends can make substantial profits. text/html 2006-09-10T10:19:17+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading/Forex-Mistakes-That-Assure-Failure.html Before venturing into your trading journey there are some things you need to be aware of, otherwise you could succeed on your trading adventure, and we don't want that to happen, do we? This Forex training guide will help you track the most costly mistakes Forex traders do. text/html 2006-09-10T10:17:09+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading-Systems/Profitable-Trading-Systems.html After you have found a profitable trading system that you already back-tested, how can you be sure that this system will produce the same gains in future. Nobody can predict the future, your system can easily make losses in next years or can be no tradable. There are some tests you must do before accepting a trading system, these tests swill show the robustness of your system and when passing these tests, it will be more likely to show gain in future. text/html 2006-09-10T10:08:08+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Beginner/Welcome-To-The-World-Of-Forex-Trading.html You no doubt have a ton of questions and are eager to learn what this popular investment option entails. This site is designed to give you the tools and techniques necessary to make smart investment decisions. Spend a little bit of time reading through the various articles and tools to decide whether FOREX trading is right for you, and how to begin investing. text/html 2006-09-10T10:05:50+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading/How-to-plan-your-success-in-trading.html 1. Establish a plan and define specific risk and profit objectives before trading. Maintain the necessary discipline to follow that plan through both good and bad times. Successful traders will agree that discipline contributed more to their success than their trading philosophy itself. Remember that the key to any plan is how well it holds over time text/html 2006-09-03T16:05:05+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Beginner/Good-Traders-Get-Educated.html For anyone interested in Forex Trading, training is essential. There are numerous online Forex courses, Including Seminars,Webinars, Home Study , e Books and DVD's to name a few. In truth, with all the information needed to trade forex, it would be silly to initiate trading without first getting educated to some degree.Choosing education can be tricky as many people are willing to take your hard earned money for minimum amount of basic Trading advise, which can normally found for free on many sites. However there a few sites that will actually take a novice and show him how to trade forex up to a professional level. text/html 2006-09-03T15:45:05+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Beginner/The-7-Undeniable-Rules-of-Forex-Trading.html Before we go into 7 rules of Forex Trading, that have been approved by a number of full time and successful traders, I’d like to narrate this story. text/html 2006-08-30T10:02:07+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading-Systems/Forex-Trading-Patterns.html Profits from Your CalendarMost traders have heard of seasonal patterns, something which is mostly associated with commodities. The foreign exchange market also has calendar patterns which influence trading, and just like in commodities, traders can take advantage of them to improve their odds for success and profits. text/html 2006-08-28T19:44:32+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading-Systems/System-Development-Secrets.html People are attracted to the markets to make money. They have high expectations about making this money using skills and techniques mostly learned from the experiences gained from other endeavours. Part of the attraction of investing in the stock market is also the apparent liberty to do whatever they like while the market is open. This feeling of freedom coupled with their high expectations will last for as long as their account is not in drawdown. This may take a single trade or many trades, however, drawdown is inevitable. text/html 2006-08-28T19:36:30+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Beginner/Planning-A-Key-to-Successful-Trading.html From time to time I get some very interesting confessions. Here is a very recent one, along with a solution. Hey Joe! I had been looking at a profitable trade setup all day. I studied indicator after indicator looking for confirmation, even though I know many are correlated and redundant. But I just kept on searching. I thought, 'Maybe I missed something.' My account is now so small that I just wanted to be sure that this was the right trade. My thought was that I must take into consideration anything and everything that could cause this trade to fail. I can't afford to lose any more money. What should I do? text/html 2006-08-28T19:29:19+01:00 http://www.effectivefx.com http://www.effectivefx.com/Trading-Psychology/Trader-Self-Evaluation.html What are Seven Key Areas that You Need to Work on to Become More Self-Aware? In my work with traders and investors I believe the most significant work that anyone can do to increase market returns is self work. Really understanding yourself and how you think can give you an edge that others in the market don't have.As part of my Super Trader Program, I give a long questionnaire to each trader to do an evaluation of themselves. Some of the feedback that I get is that taking the test is like doing a Ph.D. program! It's that involved.I consider the ten questions that I give my Super Traders to be the essence of this self-evaluation process— a minimum starting point for this type of work. text/html 2006-08-15T17:22:53+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading/Mastering-Support--Resistance.html Support and resistance represent key junctures where the forces of supply and demand meet. In the financial markets, prices are driven by excessive supply (down) and demand (up). Supply is synonymous with bearish, bears and selling. Demand is synonymous with bullish, bulls and buying. As demand increases, prices advance and as supply increases, prices decline. When supply and demand are equal, prices move sideways as bulls and bears slug it out for control. text/html 2006-08-15T17:17:28+01:00 http://www.effectivefx.com http://www.effectivefx.com/Money-Management/Mastering-Risk-and-Reward-in-Trading.html Not mastering risk and reward in trading is probably the main reason why so many traders and investors are destined to fail. It's really dumb when you think about it, because reward/risk is the easiest way to get a definable edge on the market house. text/html 2006-08-08T11:23:51+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading/How-to-Read-a-Chart--Act-Effectively.html This is a guide that tells you, in simple understandable language, how to choose the right charts, read them correctly, and act effectively in the market from what you see on them. Probably most of you have taken a course or studied the use of charts in the past. This should add to that knowledge. text/html 2006-07-16T09:36:15+01:00 http://www.effectivefx.com http://www.effectivefx.com/Trading-Psychology/The-Psychology-Of-Trading.html The psychological aspect of trading is usually underestimated by those new to trading. The psychological problem for most traders is the fear of losing - ironically it is this fear that causes most traders to lose money in the long run. The fear of losing can manifest itself in a number of ways:Unable to pull the trigger and enter a trade. text/html 2006-07-16T09:29:59+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Beginner/The-Secrets-of-the-Super-Traders.html The first and perhaps most important secret is to realize that your methodology or approach (no matter how good) is only part of being a highly successful trader. This applies to any trading style including, day trading, swing trading or position trading.The simple fact is that a bad trader can screw up a fantastic trading system. Conversely a talented trader can take a mediocre strategy and make money with it. text/html 2006-07-16T09:24:11+01:00 http://www.effectivefx.com http://www.effectivefx.com/Money-Management/Money-Management-Part-1.html There are some common mistakes I've seen traders make in the area of money management. First, let's understand what money management is all about.Money management overlaps with risk, trade, business, and personal management, yet it has many aspects that make it unique, distinctly different from all of the other areas of management. In this chapter we want to examine some areas of money management that seem to involve mental quirks leading to costly mistakes. text/html 2006-07-16T09:21:46+01:00 http://www.effectivefx.com http://www.effectivefx.com/Money-Management/Money-Management-Part-2.html FEARING LOSSESThere is a huge difference between being risk averse and fearing losses. You must hate to lose. In fact, you can program your brain to find ways to not lose. But not losing is a logical thought-out process, rather than an emotion-based reaction.Two human-based tendencies come into play. The first is the sunk-cost fallacy and the second is the exaggerated-loss syndrome. text/html 2006-07-15T10:25:11+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Beginner/A-Quick-Forex-Guide-For-Traders.html In this Forex course we will review some steps you need to take care before you venture into your trading journey. Most traders venture into the Forex market with little or no experience in the Forex market. This results in painful experiences like loosing most of the risk capital, frustration because it seemed so easy to make money, etc. text/html 2006-07-09T05:35:53+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Trading/Trading-Forex-with-Woodies-CCI.html Woodies CCI system is particularly popular with futures traders, but can it work with forex? We look at what the system is, and how it can be applied in the currency markets. What Is Woodies CCI? Woodie is a day trader of 25+ years experience, and is well known among traders of index futures such as the EMini S P 500 and the EMini NASDAQ 100. His system is based on a number of patterns made by the Commodity Channel Index (CCI) indicator. It's a little different to most indicator-based systems, and traders tend to either swear by it or swear at it, but there is no doubt that its creator trades very successfully with it day in day out. text/html 2006-07-07T04:12:53+01:00 http://www.effectivefx.com http://www.effectivefx.com/Forex-Beginner/Common-Mistakes-by-Forex-Traders.html 1. OVER USE OF LEVERAGE- Not controlling speed of market due to over use of leveraging tool. The lower the leverage factor or Gear ratio the slower the move. GEAR RATIO is a good way to understand leverage. If you have a car in 10th gear it will go much faster than if its in 1st gear. The higher the leverage or gear the faster the speed and the less time to react. It is the same thing with Forex, the more lots, the faster the speed; each lot increases leverage or gear ratio. text/html 2006-06-26T18:14:11+01:00 http://www.effectivefx.com http://www.effectivefx.com/Money-Management/7-Time-Tested-Money-Management-Rules.html Seven Time-Tested Money Management Rules to Insure Survival over the Long Run1. Always Preserve Capital. Traders should limit loss to 1% of total capital for any one position.2. Always trade in the direction of the larger trends, with the most emphasis on the Primary Tide that lasts many months or years. In a Bull Market, look only for opportunities to enter long and close long. In a Bear Market, look only for opportunities to enter short and close short.