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Tuesday 17 February 2015

The Best Strategies to Trade Forex Part Time

Author: Nial Fuller
Many traders get caught in the trap of over-trading the Forex market. It is very easy for an amateur trader to feel like spending a lot of time analyzing the charts and reading economic news will somehow make them more money in the markets. The truth of the matter is that once you enter a trade there really isn\'t much you should do besides walk away and let the market do its thing. It is very common for amateur traders to meddle in their trades by adjusting stops and moving profit targets after the trade is on, this is not really conducive to a pre-defined or sustainable Forex trading strategy.
The solution to over-trading is simply pulling yourself away from the markets; go do something else, stop looking at your charts though, and you will be far less likely to over-trade. Forex trading should be viewed as a part-time activity; there really is no reason to think you need to look at charts for 8 hours a day. It is a fact that the traders who make the most money on average are the ones who take longer-term positions, rather than ducking in and out of the market multiple times a day. The reason for this is two-fold; you will rack up less transaction fees by trading less often, and you will also be far more likely to take large chunks of price movement out of them market, or in other words, you will have more of a chance to let your winners run.
One of the best strategies to trade Forex part-time is price action trading. A price action trader can simply trade off the daily charts and check the market once a day for twenty minutes or so, and then come back the next day at the same time. You see, once you become proficient in Forex price action trading strategies, you will know exactly what you are looking for, which means you don\'t need to spend tons of time burning your eyes out staring at the charts. As a price action trader, you can check the charts briefly and instantly know whether or not there is a trade worth taking, once you become a skilled forex price action trader.
When it comes to forex trading, you need to understand that more is not necessarily always better. If you can understand this concept and find a trading strategy like price action trading that allows you to develop an effective market perspective which doesn\'t involve checking the charts constantly, you will be on the track. Trading with price action Forex trading strategies allows you to develop your own way of thinking about the markets that will allow you to make sense of price movement no matter if the market is trending, consolidating, volatile or calm. In the ever changing arena of Forex, a flexible yet highly effective and simple to understand trading strategy is essential to your longevity and success as a trader.
About the Author
Nial Fuller is a Respected Trader and Forex Coach. He runs a Forex Training and Education Website, Visit his site here Forex trading
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Learn To Trade the Raw Price Action of the Forex Market

Author: Nial Fuller
If you are a complete beginner to the Forex market, you should strongly consider learning how to trade off the 'raw' or uninhibited price action of the market before doing anything else. What I mean by 'raw' price action is the natural price movement on a chart that occurs as a result of market variables, without any indicators laid over top of it. The truth is that most beginning traders end up caught in a game of constantly over-analyzing the market and over-complicating it by trying to trade off indicator or software-based trading systems.
Such trading systems almost always fail over time as market conditions change, this is because these systems are purposely built to be mechanical and the market is anything but mechanical. Thus, what you need is some high-quality free forex education on a simple yet flexible and effective trading strategy like price action. When you learn how to trade the Fx market with forex price action, you are learning how to not only find trade setups, but also how to identify trends, trading ranges, and generally read the overall market structure.
Most other trading methods skip out on this very important part of learning to trade. You have to actually know how to make sense of the market\'s natural price movement; otherwise you are simply going to be like a mechanic trying to fix a car without understanding how an engine works. It\'s especially important to get a quality beginners forex trading education, because if you do not learn the basics of Forex and price action trading from a genuine source, you are probably going to struggle to build an effective approach to trading the markets.
Once you have made the decision to learn forex price action, you need to really dig into it and make a commitment to yourself to truly become a price action 'master'. If you don\'t take the attitude of wanting to 'master' whatever it is you want to succeed at in life, you will never achieve your goals, and learning to trade with price action is no different. Many newbie traders think they can skip out on learning from a solid beginner forex trading course; or they simply think it\'s not that important. The truth of the matter is that most traders take this approach, and most traders fail to make money in the markets, so what does that tell you?
So, the point of today\'s brief lesson is that if you are a beginning trader and looking for a good way to build a solid foundation for your Forex trading career, you should strongly consider getting a high-quality forex education in price action trading. Price action is the only trading method that will actually provide you with a real skill that you can use in any market and in any market condition. So, be sure to look for free forex trading instruction that supplies you with a thorough understanding of at least the basics of price action forex trading.

About the Author
Nial Fuller is a Respected Trader and Forex Coach. He runs a Forex Training and Education Website, Visit his site here Forex trading education
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Monday 16 February 2015

Creating A Plan For Price Action Forex Traders

Price action Forex strategies are only powerful if you have a detailed trading plan to follow. Since the strategies are often very simple, a lot of traders thing they can remember everything and don\'t need a plan. But in the heat of battle, when you have real money at risk in the live markets, you are going to be thankful for having a trading plan for your price action strategies.
The first thing you need to understand is 'why' you need to write down a plan. The trading plan is the glue that holds all your trading decision together. When you don\'t have a plan, it is easy to get distracted and let your emotions rule your trading. Throwing the rules away and trading on what you 'think' is going to happen is the fastest way to lose money. So, even though price action trading strategies produce fantastic results, you need to have a plan you can follow before and after the trade is placed.
You see, Forex trading is very different from jobs you might have had in the past. If you are an at home Forex trader, which most of you are, you don\'t have a boss. Better said, you are your won boss. Since there is not a higher power you need to be accountable for, it is easy to throw the rules away and base your decisions on whims or emotions. So, think of a trading plan as a way to hold yourself accountable every time you engage in trading in the live markets.
Your price action trade plan is more than just the rules to follow. The trade plan is much more in-depth than that. Think of your trading plan as a the way YOU are going to trade the individual trade setups as a whole. The way you trade should fit your personality, lifestyle and goals, and must be reflected in your plan. The basic trade rules you can get from a pro trader, but your personal trade plan must be personal and come from you.
About the Author
Next, check out Learn Forex Live to see how a professional trader trades price action. Find out the truth about Forex trading and what you can do to start profiting as soon as possible on http://www.tradetheforexmarket.com
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Understanding Price Action Forex Trading

Author: Nial Fuller
If you want to trade the Forex market, the best way to do so is to learn how to read the price action on a plain vanilla price chart. This means, no indicators, no software, or anything else of the sort. The very first thing you should do as you learn to trade forex,is obtain a solid understanding of the uninhibited price action on a 'naked' price chart.
Why is it so important to understand price action though? Well, for starters, price action is the 'core' of any financial market. The movement of price across time is the end result of all global economic news events. So, by learning to interpret this price movement, we are learning to interpret the most important view of any market, which is its core price data.
There is no more important piece of any market than its price. The price of a given stock, commodity, or currency is a reflection of its current supply and demand situation, and the movement of price is the most important analysis tool we have as traders. However, many traders overlook the obvious and forgo making price action strategies their primary analysis tool.  They instead use lagging indicators, trading software, or other price-derived analysis tools to try and predict market direction.
This is a little bit like going to a doctor for advice on how to fix your car. Why would you do that when you could just go to a mechanic? Why then do many traders use overly-complicated price-derived analysis tools when they could just learn to trade off pure price action? The answer is probably too long to get into in this article, but it has to do with human beings being irrational and emotional when it comes to managing their own money. Many people erroneously believe that trading the Forex markets necessarily has to be complicated and (or) expensive. I am here to tell you that this is simply not the case. Many successful traders including myself have learned to make consistent money by employing simple and effective Forex price action trading strategies.
Trading with price action is really not that hard. You do need to learn from an experienced and genuine source though. After you have mastered the art and skill of trading with pure price action however, you will begin to see the market in much simpler and logical terms. Removing the mess of indicators and other unnecessary 'bells and whistles' will work to not only clean up your charts, but also your mind. This is one of the first things that drew me to trading Forex with price action; the chance to 'untangle' my charts and my mind of all the indicators and over-complicated B.S. that I was using.
So, as you learn forex, be sure you get educated on a high-probability yet simple trading strategy like price action. This will pay you back many times over in your Forex trading career because you will be learning how to trade, not just learning how to interpret a mess of indicators or trading software.
About the Author
Nial Fuller is a Respected Trader and Forex Coach. He runs a Forex Training and Education Website, Visit his site here Forex trading
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3 Keys To Kick Start Your Price Action Forex Trading

Price action is one of the best ways to profit in the Forex market... and this is one of the few things successful traders can agree on.  Agreeing on how to trade price action or how to learn to trade price action is another story.  But unfortunately, many would-be traders get sidetracked and distracted with the claims of indicators and robots.
Many traders start out looking for the magic combination of indicators that will allow them to crush the Forex markets without really having to know anything about the way price moves, or what those movements 'mean'.  Or, they take an even lazier route and try to put their Forex trading on autopilot by buying someone elses trading strategy programmed into a robot.  And I\'m not saying there is anything wrong with using indicators or robots, I use both.  But the truth is, many traders only start to see success after they learn price action trading.
Just think about it... how are you going to know if the indicators or robots are worth using if you know nothing about trading or what the movement of price means on your charts.  If anything, learning price action Forex trading can help you identify the best indicators and robots... as well as being a very profitable stand alone trading system.  Let\'s go over 3 keys to kick-start your price action Forex trading...
Learn Forex Price Action  From An Already Successful Price Action Trader
There are so many people out there offering to teach you price action it is becoming increasingly harder to  know who to trust.  But one thing is for sure... you want to learn from an already successful trader with a proven track record.  You want someone to teach you who actually trades the strategies they are going to be teaching you.  Otherwise, you are just getting theory that has not been battle tested.
Often, learning price action trading strategies is very simple... until you try to do them yourself under live market conditions.  And this is why you need a successful trader... they can teach you the subtle nuances of trading these strategies live.  And that experience is going to make all the difference.
Learn Forex Price Action In The Way You Best Learn
People learn best in different ways.  Therefore, I suggest you try to learn in the way that you learn best.  If you are the kind of person that learns best by reading, then look for a program with a lot of written material.  If you are a visual learning (like me), then video is probably your best bet.  And if you need a lot of personal contact and all your questions answered before you put anything into action, I think a program with webinars are your best bet.
I like videos over books and webinars because I like to be able to see what I am learning.  Books are great to learn the concepts, but lack the 'aliveness' of trading under real market conditions.  Webinars can be great as well, but I find it distracting at times because the other traders on the webinars come from very different backgrounds and experience levels.
Choose The Forex Price Action Trading Method That Matches YOUR Trading Style
This is a big one.  If you don\'t pick the price action trading method that fits your trading personality... you won\'t trade the system.  At some point, the price action trading system you use has to FEEL like it is yours.  If you have to force yourselves to trade at times that are uncomfortable, or use stop losses that go against your account size... you won\'t stick to the program.  Take my world for it... finding the right price action Forex trading system for YOU is the biggest key to becoming a successful trader.
About the Author
I\'ve tested many price action Forex courses and services and a few really stand out.  Find out what they are at http://www.priceactionforextrader.com.  Do miss the free Price Action Trader Evaluation which helps you find the right price action resource to fit your trading personality... as must to be successful.
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