Self Made Champions of the Internet

Jayson Yankovsky has 20-year-old experience of trading. Trading in futures, options and currencies since 1987, he is constantly upgrading his knowledge. He is the author of several trading systems, has trained many other successful traders and often publishes the analytical paragraphs in various newsletters. Besides, he has published the book “Trading rules which work”. Twice a day he conducts on-line analysis on the market, ensuring to traders fundamental and technical estimations of a current situation.

Each trader had a bitter experience of placing of stop warrants too close to the market. Actually, it has no significance, whether there was this stop warrant for an exit from lossing or the advantageous bargain, frustration arises, when the stop warrant is executed, and soon after that the market continues to move in the same direction in which the bargain has been concluded.

You have accepted loss which, probably, could turn subsequently to profit, or have reduced the profit. From all aspects which to me were required to be developed at formation of my trading approach, I have possibly spent most of all time for improvement of placing of stop warrants, than for something else. After long considering of this question, I have come to a conclusion that the problem consists not in, whether there should be a stop warrant as trade without restriction of losses is “constant expectation of accident”. Actually, the problem consists in an effective utilization of stop warrants to maximize the probability meant by your trading approach.

I have considered psychology of stop warrants, and I believe that any trader can improve the application of stop warrants simply applying them less aggressively. Here are the rules which I recommend:

1. First of all, you should understand once and for all that stop warrants are not obligatory. The certain way to transfer wearisome recession of the assets is a trade in general without protective stop warrants. In my opinion, it includes “mental stops”.

The purpose of installation of the fixed stop warrant should not be exclusively connected with an exit from the existing bargain. It needs to be considered as a part of the good-thought over trading approach. If we are ready to admit to ourselves that we can not know for certain, whether there will be a given concrete bargain advantageous your use of stop warrants will be simple a recognition of this fact. You, as the serious trader, always should have the protective stop warrant irrespective of, whether you expect that it will be the warrant on an exit from a trading item which at you is opened now for trade during the day.

At least, exhibiting of the stop warrant against your open position guarantees that if, for any reason you drop something before leave the bargain or will exhibit the stop warrant for the night, you will be protected.

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The success or failure is defined by understanding of risks and rules, ability to use them. Risk of bankruptcy of the company is always above, than the government one. There are much more various external influences, which can affect a safety stock cost. Accordingly, risks at financial speculation with safety stocks of the companies above, than with currency. Legal questions, on the contrary, are better worked out in the stock market. High volatility of currencies, for example, is connected not with the currency, and with trade conditions (a leverage 1:100).

The success or failure at financial speculation is defined by a likelihood estimation of risk of separate financial tools, trade conditions, execution of transactions and other operations. Mathematics, the psychology and a correct estimation of risks define an overall performance of the trader, instead of the financial market on which he operates.

You should know that brokers always insure accounts of the client. They worry about their reputation. Usually companies insure accounts of clients on the segregated account against bankruptcy for any external reasons. A difference is only in the one matter, what insurance company is used? Because it will be necessary to receive money from that company.

Anybody insures against risk of loss of money as a result of financial operations. From bankruptcy are not insured either clearinghouses, or brokers working in the various financial markets. The same is with problems with payments of the insurance company – especially if it is very far from you. A choice of the broker – always risk, which is necessary for considering at decision-making. Distinction in quotations of various information systems in the currency market is shown often enough (the reason in organizational structure of the Forex market) and does not exceed several points. Here there is no danger for you.

In all financial markets (currency, stock, future) for increase in the profit brokers use a delay performed by the order. It is necessary to be afraid of it.

Further is a spread. It is important not the spread, and its relation to base. During strong movements the size of a relative spread increases in all financial markets. And it is difficult to estimate, where more. Count – and be convinced. Margin requirements. A leverage 1:100. The higher the leverage, the more risk. It is an axiom. But it is only in the event that you do not observe a risk-management rule. Infringement of margin rules is punished equally in all financial markets – liquidation of positions. Operations in all financial markets allow you to earn money. The matter is in you, first of all. You should be ready to risk and to work hard in the stock market, if you want to have stable income.

It is vital to gather as much info about Forex market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, especially on Forex market, but sometimes just one Forex books can be of big service to you.

All beginning traders in the Forex market make almost identical mistakes. Beginners are mistaken in result of the inexperience. Losers – because simply cannot behave differently. In any case a basis here is one – the majority of traders has stereotyped thoughts, in full accordance with the psychology of behavior inherent in crowd.

If to reject charming illusions concerning own “I”, all of us are imperfect people, especially when business concerns decision-making on financial markets. Only the market is not mistaken.

Very many traders – irrespective of in what scale they trade, – enter into the market while already it is time to leave it. According to theory of Elliott, it often happens at the third or the fifth wave. But every time there is a chance for profit earning on the further growth, the probability of falling of the market during these moments is already very high. The participant of the market enjoys the profitableness of the bargain for some time, but then he sees, that decrease in quotations brings him loss.

If it happens on an outcome of the third ascending wave, the trader worries very much because the price starts to move under laws of the fourth wave. Trader doesn’t know what he should expect from the market. The market is unpredictable! It bothers the trader, and he leaves the market at a loss or with a small profit, and then suddenly with amazement he sees, how the price goes to new tops, and his bargain could give quite good profit.

If the trading item forms in the termination of the fifth ascending wave the matter is even worse: the price tendency can be changed at any moment and in the foreseeable future will not return to an entry point. Perhaps, this variant is the worst of all existing: though sobering up comes fast, but you loose too much. Nevertheless, under this scenario events develop with all losers and huge number of traders-beginners.

Why is it so? Here are some explanations. The first consists in stable thinking that movement of the market should be together with volume. Here is the certain element of truth in it. Really, if the rise in prices is not supported by volume, it means that new traders don’t want to enter into the market. Therefore trade occurs basically between present on the market during this moment participants and some number of again arriving and decreasing players. But it is natural that if someone purchases, someone should sell also.

Don’t make such mistakes and try to think properly before you do something. If you want to have success in the Forex market, you should work very hard and always to learn new things and methods of trading.

It is vital to gather as much info about currency exchange market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, especially on Forex, but sometimes even one Forex books can save you much money.

Brett N. Stinberger is the doctor of philosophy and the professor of Psychiatry at Medical University in Syracuse, New York state. He is also an active trader and writes articles on market psychology. The author of the book “trade Psychology” 2003, doctor Stinberger has published more than 50 articles under short-term approaches to change of behavior of traders.

Probably, cardinal investment in research of the behavioral finance is the analysis of ways with which people in the conditions of risk and uncertainty depart from strict rationality. How we process the information, influences our behavior, creating situations in which we can risk our capital more for the psychological reasons, rather than on the logic.

The overwhelming majority of how we perceive the world that surrounds us consists of attributes – qualities which we attribute to ourselves and to explanations which we attribute to events. Being people, we are forced to give sense to the world that surrounds us; both giving of attributes to objects and events is the important element of this formation of sense.

One of the most important attributes which are created by the trader is a perception of the profits or losses. Whether gains and losses refer to the trader – result of positive or negative actions which he undertakes? On the contrary, we carry a gain and loss to account of external forces or casual coincidence of circumstances? We give what attributes to our trading results, it will be obligatory to play large role that we undertake concerning these results. If, for example, we tend to attribute profit to the achievements, and losses to connect with failure we can continue to adhere to erroneous trading ideas that will strengthen only our losses.

Actually, the carried out research shows that people are for a full due adhered to the attributes that should be shown also in trade. For example, football fans tend to attribute successes of the command to their skill, and losses to good luck of opponents. When chiefs of the companies successfully make any bargains on merge or absorption attribute success to the professionalism then they tend to become self-confident and to do the further bargains which then bring the lesser benefit to their companies. Also, there is a tendency to pay to chiefs of the companies of more money when the price of shares of company grows as this growth is unfairly attributed to merits of the chief. By the way, at price loss on shares there is a return situation.

However, when we give in to such attributive biases, results of trade are to the greatest degree endangered. Social psychologists refer in this case to “an attribution error” which represents the tendency to give too great value to the personalized behavior of other people and to minimize situational influences. When we are subordinated to “a bias of the observer”, we tend to attribute our own results to influence of situational forces, instead of lines of individuality.

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The professional trader should work how it is conveniently to him. He should work so, that in the course of realization of tasks in view to ensure himself the maximum comfort, considering features of the character. Knowing answers to all these questions, you can decide, what method of an exit on the American stock market is more preferable to you: system of a direct access or through the Internet broker, or any other variants.

For practical realization of your decision to earn on a stock market of the USA, it is necessary to conclude the agreement with a broker-dealer.

With what broker on what basis of criteria is it necessary to make a choice? Is it necessary to start with its reliability, offered trading platform, quality of represented services, size of commission or any other items and preferences?

Do not hurry up to open an account.

Do not hurry up to open an account. Visit some companies rendering the given type of service, talk over with people, who have been not connected in office relations with the given company. Only from them it is possible to receive the objective information. The second important factor at a company choice is the total cost of service of transaction. Brokers, to involve the investor with low commissions, often use difficult systems of count of payments. The total cost of service of transaction can seriously affect result of your financial gamble. Of what do consist commissions for the small traders, working through terminals of a direct access? It is possible to allocate three stages:

- At the registered broker the commission constitutes approximately 0.3-0.4 cents for the safety stock.

- The registered representative of the broker offers foreign partners to carry out transaction already on 0.7-0.9 cents for the safety stock.

- The foreign partner offers small traders of transaction on 1-2 cents for the safety stock.

To brokerage offices have an additional income from: widespread practice of purchase-sale to small traders of safety stocks piece by piece and by packages; lease of jobs; a payment for the software and other.

Do not be afraid to bargain.

If you have chosen active trading, do not be afraid to bargain for commissions. Even the tenth shares of cent for the safety stock can change result of your financial transactions essentially. The income of the broker depends on your readiness to take advantage of its services, instead of services of the competitor. Therefore he is forced, in reasonable limits, to meet halfway the client, reducing the incomes at all stages. If unreasonably low commissions are offered to you, it is necessary to muse of the reasons of similar altruism and to look for answers to following questions:

- What is the style of work of a given brokerage office?

- What problems can be after so “favorable” offer?

If the broker doesn’t suit you anymore for any reasons or he changes trading conditions not in your advantage – do not be afraid to transfer the account to other broker. This process legislatively also is technically fulfilled and takes a minimum of time and means. For this purpose it is necessary to fill in Transfer Initiation Form (TIF) and to send it to your new broker. Wish you good luck!

It is important to gather as much info about currency exchange market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, in particular on Forex market, but sometimes just one Forex books can be of big service to you.

Very often in the Internet there are for-sale signs to traders of the profitable adviser. According to the seller, the trader who purchased it will increase the deposit by 100 % of all for a month. As the proof of it the beautiful report of a tester of strategy from MetaTrader.

Often such adviser is offered to the trader in MetaTrader kind without program source text – so-called “black box”, without possibility though somehow to influence on trade of this adviser.

Cost of such “black box” can reach to 500$, and sometimes even above.

Let’s look, the trader who will buy such “a black box” how many he can earn and if he will exhibit it on the real auctions. We will admit, the initial depot is equal 500$ (I think that in any Dealing Center it is possible to open such depot for trade in mini lots with a shoulder 1:100). The adviser sold the trader doubles depot for a month, i.e. in a month, it already will be 1000$, in a month – 2000$. In 6 months the trader will receive 32000$!!! It is not difficult to calculate that in a year of depot of the trader will increase to 2048000$. Not bad, yes!?

Even, if the adviser gives only half from the declared profit (i.e. 50 % a month, instead of 100 %) in a year from 500$ the depot will grow to 64000$!!!. Even this is the huge sum. And if to begin not with 500$ and, for example with 5000$ or c 10000$!?

There is a question – what for to sell such profitable adviser? Why the seller himself does not trade in it? The answer is very simple – there is no profitable adviser, there is a swindler, which tries to swindle not skilled traders with beautiful reports of testing for stories from MetaTrader. From sale of the adviser it also profits. Most likely such seller has no relation to traders, and any suitable adviser has simply taken, has adjusted it to history, has made the beautiful report in MetaTrader and sells it to traders who are not capable to make out in the seller of the swindler.

Never purchase such advisers!!! In such cases you always purchase the report of testing for stories, instead of the adviser who will produce a profit in the future. And that the adviser any more does not produce a profit, always receive the answer that the market was changed that all varies that … and so on…

More plausible results of tests of advisers which bring 100 % of profit for the year seem. Let’s imagine that the sold adviser it will be valid to double depot for a year. Having enclosed 10000$ now, you become the millionaire in 7 years. How you think, such trading system how many can cost? And in general, what for to sell it if it is possible to take 10000$ and to transform them into millions? The answer is besides obvious that this trading system cannot make for traders such profit. Even the seller does not trust the money to this system why you should trust it?

For the practical info about forex trading – please visit this site.

Those who are in search of forex investment opportunities – visit this forex managed account site.

The majority of difficulties are in a prediction problem. Not known nature of the future, fear before it, all it motivates irresponsible mechanisms of knowledge of the future – prediction psychology. The prediction is led to belief, belief – to a selective filtration of perception and attention. The belief always searches and finds acknowledgement. It does not require disproofs and does not endure them. It never asks that can stop your belief. When you start to trust in something, you start inevitable process of negation of a reality.

You start to believe what should occur. You start to expect. The bigger prediction gives rise to the bigger belief, closing this vicious circle. And as the divergence between that actually occurs, and that you do, increases, – definiteness turns to hope, and this hope generates imaginations what will occur (again a prediction). Then the hope regenerates in fear, the fear gives rise to despair, and in a condition of despair you, at last, act. As a rule, in a condition of despair you execute the most unsuccessful action from possible – for example, close a long position in a minimum.

Why? Simply because you are on this painful way not alone and consequently that the despair threshold appears approximately equal at the most different people. During this moment your method starts to signal that it is necessary to open a long position. But you are not in a condition to open it, because have just sustained terrible defeat. You cannot operate according to distributed signals. You are completely paralyzed.

Prediction – one of the most serious problems, which are the heaviest for overcoming. The prediction underlies almost all difficulties in following a method. In a condition of fear you are afraid of that can occur. When you hope for something, you have a reliance that it will occur…

Thus, not following to a method is based on going away from the present and cycling on the past or the future. To you will help everything what helps you to support attention on the present.

There are some methods, which in the combination always inform the trader on where he is now. And which unequivocally say what the trader should do now. Nothing more can be required from the method. The method only can do the work. It should make it impassively and without all your personal problems. Therefore, you should subordinate yourself to a method. There are many ego-structures and functions, which feel huge discomfort from such submission and many deep psychological problems. Therefore it is easier to say to follow a method, than really to make it. You can have the best method all over the world (I am assured that all methods, which you use, are very good) – but you will have all the same the most serious problems at following to the method. You should realize accurately that all your psychological problems will inevitably affect your result in trading.

As we know, the majority of traders are failed. The reasons of it are simple – absence of the plan, a method, bad money-management, not following to a method etc. But a basis of all these reasons is almost always purely psychological. Education, method studying will help to overcome only 50 % of problems of following to a method. Others lie in the area of personal psychology, and each trader will face them.

It is a must to gather as much knowledge about Forex market as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, especially on Forex, but sometimes even one Forex books can save you much money.

Katie Linn is the main strategist of company “FXCM” in New York. Its book “Intra-day trade in the currency market: technical and fundamental strategy of profit earning on market fluctuations” (2005), written for the beginners, and for experts, has received wide recognition. Katie leads seminars on trade in the currency market across all United States and also has written many articles for “CBS MarketWatch”, “Active Trader”, “Futures magazine” and “SFO magazine”.

Without dependence from that, you trade on share, commodity or the currency market, most likely, you heard about bargains «carry trade». This strategy makes for the followers profit since 1980th years, but only in the last years it has received a great attention from outside mass-media. In the given article we will try to tell in brief how strategy carry trade works when it works, and when there are no and various methods with which it is short – also long-term traders can apply this strategy.

What represents carry trade? «Carry trade» is one of the most popular trading strategies in the currency market. Purely mechanically, trade «carry trade» means not that other as purchase of highly-profitable currency at the expense of low-profitable currency by a principle “purchase low – sell highly”.

Carry trade with currency pairs, likes AUD/JPY, NZD/JPY, GBP/CHF, because differential of interest rates bargains are most popular. The first step in conclusion of bargains «carry trade» consists in learning, what currency offers high yield, and what low.

In June, 2007, interest rates on the most liquid world currencies were the following:

* New Zealand (NZD) 8.00 %

* Australia (AUD) 6.25 %

* Great Britain (GBP) 5.50 %

* the United States (USD) 5.25 %

* Canada (CAD) 4.25 %

* Euro-zone (EUR) 4.00 %

* Switzerland (CHF) 2.25 %

* Japan (JPY) 0.50 %

Looking at these interest rates, simply enough to see, what countries offer the greatest and least yield. To look current interest rates it is possible on sites of forex-brokers or corresponding central banks. Considering that fact that New Zealand and Australia have the highest yield in the given list while Japan has the lowest, it is no wonder, why pairs NZD/JPY and AUD/JPY are the most favorite in bargains «carry trade». As currencies bargain on steams, everything that the investor should make to apply the given strategy is to make purchase on pair NZD/JPY or AUD/JPY on the trading platform.

The low rate of the Japanese yen is a sign of that with its help traders earned both on share and on goods markets. For last some years, investors in other markets have started to apply own versions carry trade, selling yen and purchasing, for example, the American or Chinese shares. It has generated in the markets a huge speculative bubble, and also strong correlation between bargains «carry trade» and share markets.

One of strategy corner stones is possibility to earn percent. Under bargains carry trade income is accumulated every day with its trebling since Wednesday on Thursday (compensating to days off).

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Financial experts all over the world have own opinions concerning the currency market. Each will have various thoughts on trade, but is most probable to whole, warmly recommend it to any seriously thinking about investments. Since then there are many arguments pro in comparison with arguments contra about the currency market. Though these professionals of the finance will have own submissions concerning why it is a good method of an investment, all of them will agree about several key privileges of the Forex market.

The currency market is the most liquid market in the world. There are only one goods exchanged in the currency market – cash. Each nation with one kind of money or other, thus always has a request on this asset. Bargains are seldom extended, taking more time when they should be finished. As Forex is international market, it will always trade someone agreeable with you. Even if the national economy will fail, all of you still will have someone to trade with you.

Unlike a stock or the future trade, the currency market has the few commissions, if those in general are present. It means that intermediaries do not corrode your profit, allowing you to keep the large part of money, which you earn. Unlike stocks, online Forex investors should not give a part of their money to brokers, because there are no brokers to deal. Investors are responsible for the own investments; the broker doesn’t have rights for this. Along with absence of the commissions, the profit on the currency market is not taxed. As no unique government possesses the currency market, they have no right to impose a payment on the got profit.

Though some investors are well informed and devoted to trading in the Forex market, there is enough to make good income from the currency market, the majority of investors trade in the evening after work. As the currency market is opened 24 hours per day, the dealer has an ability to establish their own list concerning when they wish to make transactions. Banks all over the world always opens and closes, thus always there is a client to deal. Ability to trade and work at another job at the same time, gives hope to many investors to earn additional cash.

Forex, unlike any other market or business, it is impregnable to economic waves and decrease. The unique goods with which deal in the currency market, are money. The profit is received from fluctuations in exchange rates, not a currency actual value. As value of currency is relative from one currency to other, the actual value has small influence on potential profit. The currency market will not mention recession. Suffering crash the market will devastate the investor of a stock, but will create possibility to the Forex investor.

Enjoy your trading. Good luck!

It is important to gather as much info about currency exchange market as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, especially on Forex, but sometimes just one Forex books can save you much money.

The purpose of regulation of liquidity consists in maintenance of effective functioning of an interbank money-market and prevention of failures of a payment system. Liquidity regulation represents original continuation of conversion operations of currency boards. Updating of volume of the liquid assets which are at the command of bank sector, the monetary authorities can conduct at the expense of money market interventions. If the money-market is more developed in comparison with currency operations on liquidity regulation are transferred on it. However preservation of a principle 100 %-s’ maintenance of monetary issue is obligatory.

What instruments for a manipulation bank liquidity currency boards resort to?

In Argentina and Lithuania the monetary authorities grant daily credits, and Hong Kong – intraday loans. In all these cases banks of commerce as the lien should grant board some maintenance. Usually the maintenance role is executed by securities with nominal value in anchor currency. That banks did not test deficiency of such papers, quite often currency boards specially manufacture for them currency promissory notes.

For liquidity regulation reserve requirements also are actively used. In Estonia, along with refunding operations, reserve requirements play a dominant role in a monetary policy. Since July, 1st, 2001 the Estonian banks can independently place half of reserve requirements in highly liquid foreign bonds. Often reserve requirements are replaced with requests to liquidity of a bank of commerce. For example, currency boards can enter norm on which cash a component of reserve requirements should constitute 20 % from volume of reserves.

Instruments of regulation of liquidity to which currency boards address, it is a lot of. The choice of concrete instruments in the end depends on structural characteristics of a national financial system. The preference is given usually to efficiency of an interbank money-market, features of a payment system and volatility to a liquid item of bank sector.

The creditor of an ultimate authority

Function of the creditor of an ultimate authority is a corner stone of debate about currency board. Modern boards can execute function of the creditor. However it was not always like this. At the time of the first currency boards the banking system was weak, and its crises frequently were not reflected in any way in a real sector of economic activity. Absence of any influence of banks on economy explained low interest of the monetary authorities to maintenance of bank stability. In a modern financial system the situation is absolutely different.

Thanks to the monetary animator banks are main “founders” of money. Their bankruptcy inevitably leads to avalanche growth of the offer of legal tenders. To avoid a monetary system collapse, the currency board is forced to support in time a banking system afloat, ensuring to its stabilization of credits.

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Those who are looking for forex investment opportunities – visit this forex managed account site.

The currency market – huge international interchange, where various currencies are sold, that is both has purchased and has sold. It is the greatest financial market in the world, and does not cope rules of any country. In addition to it while it is opened since Sunday till Friday, it is a 24-hour market and does not have daily closing as a traditional share market. It, thus, is not adjusted and there are no international commissions of experts to settle disputes, and thus there are no clearinghouses to stand as guarantors of branches on an exchange. There is nothing more, obligatory than the agreement on the credit between the buyer and the seller in the currency market, and it works.

While it seems very foggy to the majority of investors of a share market, dealers are forced by competition and requirement for cooperation to remain fair. There is no method for the dealer to survive in the currency market if he does not support their end of the bargain on a high level. The majority of the countries will have an own body or association, which serve to adjust dealers or brokers in that country and to guarantee that the rights of clients are protected.

Other prominent aspect of the currency market – that in the market directly, there is no commissions, and thus it influences a capital amount only. So-called brokers earn money not with taking of the commission from the trading sides, and facilitating trade directly and forcing their bit to ask the offer, extend, that is distinction between sale and purchase prices. Significance – that they are not brokers in a traditional word meaning, but is more as Forex dealers directly.

Unique most attractive aspect of the currency market – that for any investor, groups of investors or financial centers it is actually impossible to use it incorrectly. It is such large market, with the money flowing through it daily in prospective billions of dollars that no unique legal body, however big, can receive statistically essential control over the currency market. It means that it is completely free from any influences, out of true fundamental powers, which move it. Significance here – that this market offers each investor the same possibility, irrespective of the size or influence, doing it is free and fair market, probably unique in the world. This aspect is very attractive to small investors in particular as they often suffer most from fraud.

While these factors do the currency market more attractive to invest money in it, also it is difficult to earn money in this market because Forex dealer should achieve always bigger success, than the offer asks to extend, which does possibilities of arbitration profit the limited. However, without the additional commissions and charges, Forex dealer keep to enjoy each last bit of profit, which he really receives as soon as they pass, the offer ask to extend mark. As a whole, the currency market – a place for the clever, vigilant and well-trained investors.

It is vital to gather as much knowledge about Forex as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, in particular on Forex, but sometimes even one Forex books can save you much money.

The system is intended for generation of transaction. The more transaction does the broker company, the lower is the cost price of transaction and, accordingly, the profit is greater at the expense of granting of the competitive commission for retail-traders. Why such systems are necessary? And how the investor should concern to them?

Trading system is the only instrument which can benefit and harm. In our case all depends on an origin of money. If they belong to the broker company attending to proprietary-trading, the firm risks with their own money partially to lower commissions to traders. The advantage of such activity is doubtless. It is possible to pay compliments only to fact of creation of such systems.

But after all, it can be differently. Simultaneous opening and closing of items under the same shares can be decided in-house in a brokerage office. Money can belong to the investor and be transferred in control of the company with hope that with them work professional traders with the corresponding license and the expanded possibilities of trade. Naturally, it is without warranties. Warranties for financial markets do not exist!

Imagine a look of the investor, who has entrusted money of such company when he has received multi meter listings of perfect transaction, will not see anticipated profit and find out that with his means operated traders without the license. However, heavy losses and the profit will not occur.

Multi meter documentary acknowledgement of “hard work” of the trader it is available, as well as assurances from the company that it has done the utmost. All is beautiful and decent, all rules are observed. The investor has nothing to complain about. The market – it also is the market.

The company is happy: it used another’s money. This investor will leave and it is not a problem, will be new as well as wishing to take advantage of their simplicity.

Considering any methods of trade, always it is necessary to remember the main thing – about a clash of interests. Interest of the investor is profit. Interest of a brokerage office is the commission. Each party tries to receive the best conditions, and always there is a conciliatory proposal. Life rules and so the industry of all financial markets works like that. Do not forget about it.

The direct access for traders in the American market is a myth. I want, that you did not have unpleasant surprises and that you could make correct decisions, – these words belong to Don Bright, the professional trader, co-owner of Bright Trading. It is difficult to disagree with his opinion. He knows, about what he speaks. Investors have no control over fulfillment of the warrants. But there is a set of restrictions and interdictions. The fact of distinction in conditions and trade possibilities between the professional (licensed) traders and retail-traders testifies in favor of the given point of view.

“The standard” opinions are much more. There is no sense to transfer them. It is more important to understand that on financial markets it is possible and it is necessary to earn money. It is necessary to make only the weighed, thought over decisions.

For the realistic knowledge about forex trading – please visit this web site.

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Attempts to use various oscillators and to build own for catching the moments of the beginning of new trends gradually have led to idea which I wish to offer for discussion in this article. The basic sense of the offered approach consists that it is important not just to choose the indicator successfully, but also to use it according to the trade purposes correctly. The developed new understanding of behavior of indicators has defined the name – the index of the market mood.

When the schedule of the exchange rate goes on the bull trend, it shows both raising and falling; but each time thus new raising comes to an end above the previous maximum, and new falling is not so deep, as previous. It also means that the ascending trend takes place. As well as any trend, it will be punched sooner or later, and then it will appear that trend break has taken place after one of such raising, accompanied by a turn downwards. Nobody knows, which turn downwards will come to the end with break of an ascending trend. If the schedule after raising is developed downwards it is simple back-off. And when back-off has led to break of a trend and the market has made a considerable course downwards, it is necessary to regret only that you have not had time to open a short position in time.

To follow the simple true, known to each trader – to open only on a trend – in a life also is not so simple. When new (in the given situation – bear) trend has certainly confirmed that it is a trend, it has already by all means ready for back-off. And good trends demand also good back-off. So, having opened on a trend, it is so easy to receive loss, as well as having opened against a trend. It also is well known to each trader.

In this sense, the in itself schedule of the price is the late indicator of tendencies. And on intraday schedules it is felt most sharply. Well to have the indicator, which would allow telling at an early stage of back-off, whether this back-off is just correction of the basic trend, or this beginning of crisis. But there is no such indicator. But it is quite reasonable task to try to find an index, which would have property to show such beginnings of crises of the tendency.

Such indicator, from the point of view of the intraday-trader, should possess two properties:

1) To specify the turn of that moment, when the market starts to go in an opposite direction in time (without delay);

2) After that is long to grow or be in area of high (low) values while the market forms an ascending trend (accordingly – to decrease on a descending trend).

In effect, for this purpose are also created all oscillators. Many indicators available in the technical analysis well allocate points of turns of the market, showing to their exits from areas of overbought and oversold. However thus they are incapable to distinguish points of crisis of the tendency from short-term and insignificant back-off on amplitude. As in existence of the long one directed tendency, and in a horizontal corridor (in the absence of any direction of the market), such oscillator equally vigorously runs from overbought in oversold and back. Similar properties are characteristic for indicators, which are most widespread and widely used by traders such as RSI and Stochastic, which have the local nature, that is are calculated on values of the schedule on very small interval.

It is a must to gather as much info about Forex market as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, especially on Forex, but sometimes even one Forex books can save you much money.

Let’s create system which will allow you earning money. The statistics is required to us. Any – positive or negative – would be authentic. Not less than 300 supervision within 3-5 months, depending on a financial market. The increase in number of supervision and duration of test only is paid compliments.

Let’s advance the first indicator, K1: a parity of positive and negative bargains at system use, for example, 0.4. This figure shows that in four cases from ten your forecast comes true. Not so good result, but consequently it is necessary to work with it. Any figure if only it was authentic suits. Whether there will be it 0.8 or 0.1 – now it has no significance.

Loss restriction is necessary, differently losses can be irreversible. The choice of stop loss depends on a method of your trade (day, swing – or item trading) and from volatility of derivative instrument in the given range of time. Stop-loss should not be too small, and it is better to express in monetary units. For example, $500. We will add to this the size of average costs on trade (in recalculation on one transaction): commissions, lease, the equipment etc. at us are now the second important indicator – factor of losses K2. We will assume, in money terms it will constitute $550.

If you aspire, that your operations on financial markets, at least, were break-even, profit for which it is necessary to expect at an input in the market, cannot be more low (550 х 0.6): 0.4 = $825.

The trading system is constructed. Check up it on a demo and if it works, pass to a real account. Open items and wait. Wait, while stop-loss or profit will be executed. Or – or. Any actions! Simply wait for warrant performance. On your party probability and a population mean.

It is necessary to remember that conditions on financial markets constantly vary, and any system can give failure. Not terribly. It is necessary to observe the following rule. Three failures successively, and you leave the market for the term of not less than 2-3 weeks for rest and the event analysis. A repeated series of failures will require creation of new system. Experiment! On financial markets it is hard to achieve stable results, but it is possible to some. At creation of individual trading systems demos and educational trading accounts are very useful.

The relation to another’s trading systems should be extremely cautious. In one company operating on the American share market, I saw the system based on fluctuations of volatility of movement of two shares. The system principle was simple. Two shares having mutual influence against each other get out, and graphic change of the prices in a certain range of time coincides (symmetrically). By means of factor of cost of packages of each share are leveled. One is purchased, other is sold.

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First of all, it is the Commission on Securities and Stock exchanges (SEC), which regulates an order of the admission of the companies-emitters to the share market and the organization of the auctions by securities. This order is very strict. It is enough to tell that any corporation, which has issued securities, should provide a full transparency of the financial documentation. Founders and employees of the company have no right to sell safety stocks belonging to them without official permission of SEC. Officials of the commission carefully watch, that all news, which have published in a press or other mass media, represented the facts. All infringements of regulations by the strict image are punished.

The second point of support is a National Association of Brokers-dealers of the USA (NASD). The given organization carries out unrelenting supervision of participants of the market – the investment and broker companies. It grants licenses for broker activity. Any participant of the market cannot work without the license in the USA. At the slightest infringement of exchange regulations NASD can “remove” any certificated expert or even the investment company from the market, having brought the action. NASD keeps control of all American share market, instantly reacting to any infringement of exchange regulations.

At last, in the United States there is a Corporation of Insurance of Investments into Securities (SIPC). It provides safety of the sums on investment accounts at the rate to 500 (five hundred) thousand dollars. The sum joins the insurance, which can be paid money resources at the rate to 100 thousand dollars, and securities for the sum to 400 thousand dollars. Thus, the investor is protected from any losses of non-market character, including potential losses from computer swindle, fakes of signatures, bankruptcies of the broker and any other circumstances.

With what risks can face the investor in the American share market? Rules of work with clientele, which are established in the USA for all without an exception broker companies, oblige any broker to open these risks to the clients. Potential investors should realize that the investment of means in securities is connected with risk of loss of a part, and in certain cases and all invested actives. Adverse market conditions, errors and miscalculations from outside, can lead the investor to losses. Therefore, councils and recommendations of the qualified experts have great value for beginners.

I am not going to idealize the stock exchange world. This is the aggressive world. The success here comes only to those, who in a condition to build correct investment strategy. After all the market emotionally perceives any change of an exchange conjuncture.

However it is possible to limit market risks at the expense of a number of methods. The question is – service of what category you use for investment. If it is the broker company with the limited services, hardly probable you will manage to use stop orders, professional consultations of the certificated financial advisers. Such service is possible only in the high-class broker companies.

It is important to gather as much info about Forex as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, especially on Forex, but sometimes even one Forex books can save you much money.

The right to choose – FOREX or Stocks

Where it is possible to earn money better, easier and faster on currency, share or on goods markets? It is one of the most wide-spread questions among beginning traders.

There are many variants of the answer. All of them depend on personal preferences and internal motives at the answering on this not simple question. So let talk about it.

When investors burn as a match… Why does it happen?

It is not necessary to forget that personal well-being of employees of financial centers directly depends on quantity of borrowed funds and the transaction made by investors. For workers of finance companies is a matter of life and death. Financial interest allows doubting reliability of the information represented potential investors by employees of the separate companies.

Some of this value judgment even became myths. It will be interesting to get known something about it. Here only a few examples:

• on FOREX market investors burn as a match, and on situation share markets essentially it is better;

• there is a direct access for traders-individuals (retail) in the American market;

• there are wonderful systems which allow to become the millionaire fast and safely.

Let’s consider these three “standard” opinions and we will evaluate their validity. I did not manage to find any more or less authentic statistics about participant’s currency, share or goods markets on following parameters:

1. Quantity of investigated new investors, percent remained in a year-two, three. Stability of their work.

2. Interrelation of the initial deposit in due course findings of the investor in the market and a condition of its account at the moment of stoppage of operations.

3. Experience influence (operation time on financial markets) or a method of performance of transaction on efficiency of speculative trading.

In general there are no, even improbable, statistics. There are no figures. Only references of such type as are present «present opinion», “believe”, “assume”, «under the estimated data» etc.

The reasons of such position in the industry of financial gamble are clear and explainable – a trade secret. Nevertheless, it is ready to approve that there is no serious distinction between life expectancy of the investor on any financial market (FOREX, the share, futures etc.) and possibility to earn or lose the money. It is not present and cannot be! It is natural, provided that you deal with the fair company, instead of with “the kitchen” dealing establishing the rules. Absence of basic distinctions speaks simply. On financial markets you trade in risks and probabilities, instead of shares, futures or currencies. Distinction between the markets only in game rules: legislative base, methods of performance of transaction, margin liens, liquidity of a financial product.

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To what limit can you increase means at your exchange account in percentage of the savings after you have acquired bases of stockbrokerage?

It is very individually and in many respects depends on propensity of the investor to risk, and also from his constant income, which is not dependent on the share market. Remember, that new crisis can carry away all your investments in securities. And if you do not fix the loss (will not sell assets), in this case you will need years on restoration of the initial capital while the prices for safety stock will return on former level.

Usually, professionals advise to put in safety stock no more than 20 % of the savings.

As soon as you will start to make operations in the stock market, there will be a decision-making problem before you. Learn to make decisions independently. From the very beginning you will have many new friends, working in the stock market. Certainly, at first you can feel requirement for explanations, recommendations and councils. But the more you will control your assets, you will need another’s explanations less. Asking, you are get used to be guided by another’s opinion at subconsciousness level, you do not trust the own opinion or do not have it at all. You lose boldness of the independent decision, though all responsibility for results rests only with you. The player, who has no own strategy and does not own art of acceptance of independent decisions, is doomed to defeat.

On instability of prices in the market is not so valid objective information, but expectations and emotions of participants of the market. Greed and fear force people to make mistakes. Instead of cold calculation and moderately cautious strategy of behavior in the market, investors try to catch good luck, having forgotten about care, without being satisfied with already received profit, without paying attention on losses.

The pursuit of good luck proceeds until the investor will not be paralyzed by a shock from size of the lost means. After that, the investor has the fear of fulfillment of new transactions, he starts to be afraid to get new losses and misses transactions, which could make profit for him. It is widespread enough model of behaviors. From that, how much you will manage to supervise the emotional condition depends stability of your work in the stock market. Develop the program on decision-making.

First of all, you should define with rate of profit, which will quite satisfy you. Put the real purposes. There is no opportunity to use all possibilities of the market with the maximum benefit for you. This vital rule is fair and for the stock market. Do not worry because of the missed possibilities, concentrate on search of the new ones. Remember, that it is impossible to earn all money! It is better to beginners to put the simple purpose: to learn to work in the market without losses.

Remember, that your work in the market is not only successful analysis, but also constant struggle against human weaknesses: greed, fear, vanity, laziness and an emotional unbalance.

Do not hope for a chance; achieve stability.

Successes in work!

It is a must to gather as much info about Forex market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, especially on Forex, but sometimes just one Forex books can save you much money.

Sense of traditional definition of a fractal it is possible to explain fractal Forex as follows. The fractal is a set of points. Any set of points can attribute some number characterizing its massiveness named dimension of set. In simple chances dimension coincides with quantity of the co-ordinates necessary for the task of a point of this set. Simple sets have the whole dimension: a section – dimension 1, a square or a circle – two, a cube – three. But some sets have fractional dimension. Them also name fractals (fraction – fraction).

In the nature of fractals does not exist, but some objects characterized by “irregular behavior», it is possible to model successfully by means of fractals. How to distinguish a fractal, for example, on a plane? Basically it is not difficult. It is necessary to cover set points with small squares and to count their number, and then to look, as the number of squares in a cover if the size of a square reduces twice it will be changed. If the number of squares increases, for example, between 3 or at time, the fractal means before us.

If you draw the schedule of change of quotations of any share (time intervals between the next bars should be small enough) in some practical situations fractals will be good enough models for such schedule. As well as any model, a fractal describes dynamics of quotations of the considered share only approximately. That accuracy of approach was satisfactory, it is necessary, that on the schedule there were “many” bars, and the schedule behaved “extremely irregularly”. The concrete sense of the quoted words is advanced by conditions of that practical problem which is supposed to be decided.

The fractal is a set of five bars possessed “corner” upwards or downwards. Such “definition” will be adjusted with traditional definition of a fractal hardly. To tell that five are much, it is possible only with very big stretch. And “irregular” such behavior of quotations you will not name. Actually we have two different items: the standard definition of a fractal (for the first time it was given by B. Mandelbrot]) and M. Chekulaeva’s definition.

It will be convenient to us to begin from apart. Whether you mused of why technical analysis methods work in practice? It would seem, the life is infinitely diverse, the characters flashing on market horizon every day vary, there are new goods and the whole branches of production, maps are altered, and on schedules invariably there are same configurations. Why it is possible?

First of all, we will notice that the technical analyst deals only with a small time section of the schedule of quotations. Secondly, suppose, that the market is granted to itself. Then it is natural to consider that on change of parameters of the market material effect is rendered only by significances of parameters in a present situation of time and, partly, in not too remote past.

If these assumptions are executed, dynamics of the market can be described system of the differential equations. It is known that if to consider the decision of such system on small time sections a qualitative variety of the used equations is insignificant, and almost always the system decision will be similar to one of «typical figures». The set of these figures can depend on number of the objective parameters characterizing a market position (first of all, it is quotations), but, besides, price range can influence and the latent parameters like «prevailing preferences», the described by J. Soros in it of “Alchemy of the finance».

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When the beginning trader starts to have problem in the trade, its first reaction is the thought that for success in the market he should learn to predict price range. Having made the minimum efforts he will find out that for long-term predictions use the fundamental analysis, and for short-term – technical. If our beginning trader investigates history of the prices of that market on which he works, he will find out that it seems like repeating patterns.

For a long time the markets move upwards and downwards long cyclic waves. If he looks attentively he can find out certain short-term figures which repeat all again and again on the schedule. After this he will open for himself the world of mathematical indicators, he will find out that certain combinations of indicators and figures have property to repeat – often about main tops and hollows.

Having found out these repeating patterns of different kinds, it quickly calculates great sizes profit which is possible if someone undertakes correct actions during the correct moment.

It is no wonder that our beginning enthusiast will come to a conclusion that the market it is something that repeats time from time in the various methods. And if he can learn characteristic figures and cycles, the big profit will begin to flow in his pocket. There can be markets organized so that they constantly repeat themselves over and over again in the certain ciphered form. And if our trader can split this confidential code number it will be possible not only to get huge profits, but he can avoid losses in general.

Our trader starts to pursue this aim, using the accessible literature. Probably, mail will bring to him the offer of special trading systems which absorb interests from the certain patterns, the qualified experts known to a narrow circle. As such systems are often evaluated in thousand dollars; our trader can assume that they should be working as trading instruments.

Brochures about these systems often contain stories about legendary traders or, on the contrary, about traders-hermits who have found out a secret of the market and have made on it millions. By means of various means the seller has received these secrets and now he agrees to inform them only with several lucky beggars’ traders – for certain compensation from their party. Similar stories strengthen belief that some traders gaining the big money have achieved this success thanks to that they have found out something about the market that the super professional can know only.

However despite enormous quantity of such methods of a prediction in books, trading systems and other products, within any year about 75 % of traders lose money. If to take longer period of supervision lose money about 95 % of traders. Nevertheless practically anybody from traders does not ask himself a question on, whether there are basically suitable to use repeating patterns of the prices.

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Before to make travel you should acquire the basic concepts with which we will operate. First of all, it is necessary to tell that the brain of the person constantly emits the electric impulses named rhythm of brain activity. These rhythm has two indicators: amplitude and frequency.

The amplitude is a size of an electric impulse, which is measured in microvolts.

Frequency is a speed of change of a rhythm (how many time the electric impulse reaches the maximum value for a second), measured in cycles in a second (hertz). On frequency a rhythm of brain activity is divided into four categories: an alpha, a beta, theta and delta. The combination of these rhythms also defines that condition in which is intelligence.

Any condition, in which you are, consists of whole “symphony” of rhythms, and each of them makes the characteristic impact.

Beta rhythm. From normal thinking to a panic.

In your consciousness one thought replaces another, and you cannot stop their continuous movement. However, when you concentrate attention to some thought, it seems to you that speed of a current of thoughts has a little decreased. Your heart beats rapidly, blood pulses in temples, breath is rough, and it seems to you that you cannot consider a situation normally. It seems that your intelligence does not submit to you any more, and frequency of beta rhythm has risen.

A brain usually creates beta rhythm, when you are in a wakefulness normal state, but the considerable quantity a beta rhythm can lead to occurrence of emotional discomfort. A beta rhythm associates with logic thinking, the decision of problems and concentration of attention. This rhythm allows us to operate actively, but we should know, how to control them. And, knowing it, we can use them more effectively and to reduce the dependence on them.

Alpha rhythm.

Alpha rhythm is generated by intelligence when the person dreams, makes up, when visualization becomes more active. These waves also associate with the relaxed condition, with perception. Some people extremely deeply plunge in an alpha condition and see the world surrounding them through an imagination haze. Frequently they even rejoice to that it is possible to escape surrounding reality.

The most widespread problem connected with an alpha rhythm is that it is not enough of them for connection with other rhythms of brain activity. Without alpha rhythm it is impossible to remember dreams after awakening even if you remember that they were bright, colorful and made strong impression. Without alpha rhythm you cannot recollect those thoughts, which came to your mind in a meditation condition even if you remember that you had many sensible ideas, which you wished to use. When alpha rhythm disappears, connection with subconsciousness is lost.

Use to control rhythm of brain activity and you will get success faster.

It is a must to gather as much information about currency exchange market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, in particular on Forex, but sometimes even one Forex books can be of big service to you.

SFA is the regulating organization organized according to the Law on Financing facility from 1986 for the purpose to regulate work of members of the investment markets. SFA are regulated about 1,350 firms.

Securities and Futures Authority (SFA) regulates the firms attending to securities and futures in sector of financing facility. The organization purpose consists in that investors had firm reliance of safety of work with the firms which are under its control. SFA checks these firms on honesty of bargains and justice in relation to investors, and also on availability of a stable financial position and the qualified management.

SFA it is accountable to FSA (Financial Services Authority). FSA (earlier known as Securities and Investments Board) has been organized to observe of fulfillment of the Law on Financing facility which requires obligatory licensing of investment business. This regulating system co-ordinates and traces all forms of business in sphere of investments. Others accountable of FSA divisions are PIA (Personal Investment Authority), IMRO (Investment Management Regulatory Organization) and others. Now fundamental changes of system of regulation which will include SFA and other divisions entering in FSA, in a uniform regulating authority are conducted.

The firms regulated SFA, make bargains, or carry out consulting activity on a capital market or their derivatives. Shares, bonds, options, the corporate finance, financial futures and urgent commodity futures for metals, petroleum, grain, coffee and others here enter. These firms work both at exchanges of Great Britain, and behind its limits. Their incomes render essential assistance to the British economy.

About 1,350 firms are under supervision SFA. Many of them have a long and successful business family tree; others – newer enterprises created thanks to demand for new or special programs and services. Approximately half of them are the British firms. The others are the companies from the North America, Japan and the Western Europe, with branches in Great Britain.

When the investment company enquires the work permit in the United Kingdom, it always passes check at SFA and agrees with the further regulation of the activity by this organization.

How regulation is carried out?

Nominee consideration – is advanced conformity by conducted firm of activity to investment business.

Supervision – firm activity is traced in the various methods, including visits of inspectors, the analysis of financial reports and daily bargains, and also analysis of complaints of investors.

Check – possible abusing with application of fines to firms and the persons hired by these firms are investigated

Business support – working out of rules of granting of corresponding services to investors.

The estimation of financial risks – is evaluated a policy of firm in the management plan by risks, and also practical actions of firm on their cover.

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Traders say that they can see losses, which a position brings, but it is not clear for what reasons, they continue to go forward and to conclude the bargain in any case. They are paralyzed. It is plain truth that the part of the trader, who continues to move in a self-destructive direction, wishes to lose for any reasons. One of them is that this part of trader will feel more comfortable. In a case with traders, who has nightmares, they replayed repetition of the transaction, which will bring them self-damage so many times that for them it already became as something correct and comfortable.

Fear to think positively.

One of principal reason on which traders create such negative stories is that they are afraid to think positively. Sometimes this fear grows out of that in the childhood someone from members of a family said that it is not correctly to think positively. Parents could be afraid that the positive thinking can lead to negative results. Such fear is natural, but not the correct conclusion, usually arisen that experience has prompted situations, when the positive thinking led to already negative consequences. The fear of positive thinking can have roots as both in religious beliefs and in a low self-estimation. Some religions warn members of the churches to think positively. It is considered that it is caused by own ego. The low self-estimation also can create fear of positive thinking. If you consider that you are not worthy of positive results, you can be afraid of consequences to think about something better, than you deserve.

Nightmares as escape.

Our dreams are possibility of an exit to emotions, which we do not want or we are afraid to express. Traders, who constrain the negative emotions, are under risk of that these emotions leave through dreams, which will plunge them into a prompt stream of negative feelings. One trader saw the dream, in which he hopelessly tried to leave a certain room. The problem consisted that he has been paralyzed, and in a room there was no exit. He did not realize that the exit from a room would not solve his problem. It was rather necessary for him to leave not from the room, but from a condition, caused by awful feeling of that he has lost the control. This trader dealt with painful not expressed emotions from the childhood. He has never had companies of people, to which he would trust enough to share these emotions. As a result, these emotions have started to haunt him in the form of dreams.

You shouldn’t afraid to think positively. Try to change your views on life and trading, it will be easier for you to live and to work then. It is not necessary to hide your emotions inside, communicate with people, and share your thoughts with your friends. Good luck!

It is a must to gather as much knowledge about currency exchange market as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, in particular on Forex, but sometimes just one Forex books can be of big service to you.

The positive thinking demands bigger quantity of energy, than negative. When traders are exhausted physically or intellectually, it is easier to them to imagine bad result, than positive consequences of the activity. The condition of a physical exhaustion can be expressed through the lowered functions of epinephral and immune system of an organism. At the night, the weakened function of epinephral systems causes that adrenal glands do not signal a liver about necessity to develop glycogen, when sugar level in blood goes down. Proceeding nightmares are caused by the low maintenance of sugar in blood that, simultaneously, is at the bottom of that people see nightmares in the end of a dream cycle, when the sugar maintenance in blood is at the lowest level. Whence people have the low maintenance of sugar in blood? From an improper feeding and the excessive use of sugar that forces a body to develop too much insulin. The big consumption of sugar, finally, conducts to the lowered maintenance of sugar in blood. When it occurs, all negative scenarios come up and fill our unconscious consciousness. One more reason of nightmares is illness. Fever causes nightmares, when the brain overheats. In addition to it, various respiratory disorders also cause nightmares. When you sleep, and you have difficult breath, there can be fears that you cannot breathe at all. The fear of feebleness and control loss can become more real. The bad working day can leave feeling of an exhaustion and alarm at a trader. Nevertheless, instead of going to sleep earlier, he can be late watching TV and drinking beer to relax. Unfortunately, a combination of stressful hormones for a day with alcohol will also cause falling of level of sugar in blood. In this case you can see nightmares again.

The coming anxiety on transactions or money will create repeating image of loss and-or failure in consciousness of the trader. These images will spread in his night dreams and day dreadful visions. Conversations about fears and problems, connected with trading operations before a dream can become one more reason of bad dreams. Viewing of news before a dream also can provoke feeling of concern, which is expressed through a dream. The same it is possible to tell and about day visions. Concentration on anxious news or other negative thoughts can create favorable circumstances for daydreams. Viewing of a horror movie or perusal of the strong book can also inspire awful visions. And, at last, traumatic experience of the past can create bad vision. In spite of the fact that absolutely different things and various experience will be activators of dreams, the consciousness of the trader will spread alarm from them on of what he thinks most of all: on trade.

How is to rectify situation?

If you think that you have got lost in bad dreams, strategy of the self-help, which is able to neutralize them, will be the most effective. This strategy includes three stages. First, realize influence of bad dreams on your trade. It will give you motivation. Secondly, define that dream, which disturbs you more. Thirdly, and the last, you should replay this dream into your thoughts completely, but only with the positive ending. As soon as you will make it in enough to move images in the consciousness, the nightmare will turn to a pleasant dream.

It is vital to gather as much info about Forex as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, especially on Forex market, but sometimes even one Forex books can be of big service to you.

With the beginning of a new millennium any researches of derivatives in the USA among the leading companies inevitably lead to the main market participant the derivatives. It is the American huge superbank JPMorganChase which was born as a result of merge of two big banks: JP Morgan and Chase Manhattan. JPMorganChase enters into elite group of blue chips of the New York stock exchange.

In the USA banks of commerce and trust companies are obliged to grant every quarter reports on the operations with derivatives in Management of currency exchange regulation of the USA (ОСС). ОСС it is based in 1863 as office of Exchequer of the USA and is responsible for maintenance of “a stable and competitive national banking system». On site ОСС www.occ.treas.gov it is indicated that currency exchange regulation Management pursues four aims: «1) to ensure safety and validity of a national banking system; 2) to encourage competitiveness, allowing banks to offer new products and services; 3) to improve efficiency and quality of supervision, including decrease in rigidity of regulation; and 4) to ensure fair and equal access to financing facility for all Americans».

Quarterly ОСС prepares «the Report on bank derivatives» which in detail paints items on derivatives as a whole for all banks America and the trust funds working in the urgent market. Under the law, banks America and trust funds are obliged to inform on the items on derivatives in ОСС every quarter. Though this report does not include items on derivatives of noncommercial banks, such as investment house Goldman Sachs, report ОСС all the same is extremely useful to estimation or an activity cut in the market of derivatives and items on derivatives as a whole.

Difficult precisely to evaluate what share in the market of derivatives is constituted by banks of commerce and trusts, but it is possible to assume that their majority. From the drawing 1 borrowed from report ОСС for III quarter 2001, it is possible to draw at once a conclusion, which the main player among almost 400 American banks of commerce and the trust funds pounded in the market of derivatives. It is super bank JPMorganChase allocated with red color including Chase Manhattan Bank and Morgan Guaranty.

The reader can be convinced that the sizes of effectively controllable capital through derivatives simply stunning. The volume of derivative instruments constitutes monstrous figure in $51,284 billion More than $51 billion! By the way, for half a year (in comparison with I quarter 2001) there was an increase in this sum at 16.8 %, or nearly so on $8 billion! For comparison, the annual volume of gross national product of the USA constitutes about $40 bln. (For III quarter 2001 – $10,225 billion). Capitalization of 500 largest companies entering into index S&P 500, the little exceeds $10 bln. Obviously that the enormous sum of derivatives of $51 bln. which supervise banks and trust funds, is a fictitious size as it much more exceeds gross national product of the USA and cost of all shares sold and purchased in USA

From this huge sum of $51.3 bln. bank JPMorganChase supervises $30.4 bln. derivatives that constitutes 59.3 % of all market of the derivative USA. If in more details, the bank supervises 64 % of the market of percentage derivatives, 49 % of market FOREX, 68 % of the market of derivatives on shares and 62 % of derivatives on gold – among all community of banks of commerce and trust funds of the USA. Thus tangible assets JPMorganChase – all about $800 billion.

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Today any objective analysis of a financial market of the USA leads to a conclusion that derivative financial instruments or the derivatives are the basic component of this market. The rough 1990th which have changed a political card of the world were significant also fundamental structural alterations in the nature of financial transactions. Explosive character of distribution of derivative financial instruments has literally shaken all global financial system. Price ruptures and not predicted changes of volatility that can arise at any moment, creating unsoluble problems for investors.

Derivatives represent rather difficult financial instruments which cost is “derivative” of any base asset lying in their basis. As assets can be understood a commercial value of shares, and also interest rates, market indexes, currency, etc. options, futures concern derivatives, forwards, swaps and various combinations of these instruments.

It is important to acquire that base assets are not capable to characterize objectively volume or a turn-over of the market of derivatives. Subject assets only basis for creation of derivatives. Cost of the derivative instrument it is possible to present in the form of the balance reflecting an exposition of yield at present of time, but not as the financial report about operations or about a turn-over.

Some analysts lose hold on reality and make big, inexcusable for professionals of a financial market an error, publishing works in which the hypothetical sizes of derivatives are considered as real operational, instead of item sizes. Actually potential charges of derivatives are as though a picture of balance of an item at some instant time. Though now in financial circles the opinion also is accepted that the size of the financial assets involved in derivatives is not connected in any way with item risks of derivatives, – in no event it is impossible to agree with it. The above size of the sums, the bigger credit shoulder is used for pyramid construction on an open position on derivatives. The bigger lever is used, the above overall risk of a portfolio of derivatives.

The authorized brokers and aggressive private speculators of Wall Street have thought at once that derivatives are a magnificent financial innovation which can lead to predicted management of risks and a huge stream of new profits for the American financial bigwigs.

However outside of a financial lobby derivatives began to acquire reputation of highly risked financial instruments which are capable, as flight of hungry sharks, to gobble up including financial “geniuses” who have created them. With increase in number of various derivative instruments the reliance began to become stronger that the various companies, working in the urgent market, join in reckless gambling. Creation of derivatives can be perceived as dangerous attempts to liberate huge financial forces – too powerful and unpredictable that they could be tamed without ceremony.

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You should expect success. Any your thought should begin with it. Are you annoyed with yourself when you do errors? – Or you speak to yourself that next time you will achieve bigger success because you know much and you are able to become an excellent trader! Be the own admirer and trust in yourself. If you believe that you can make something, in the end you will find a right way. When you are convinced that in the end everything will be fine, you physically and intellectually are quiet. Then you can better concentrate on the trading process that will promote more smooth work, which unconditionally will lead to positive results. And on the contrary, the negative relation cultivates doubt seeds. It reduces a self-trust, which leads to a negative self-estimation. Then it causes concern, which leads to concentration infringement. Now the trader becomes strained and too cautious that in turn leads to bad work. The fallacious cycle has become isolated!

You should have positive self-estimation.

Where are concrete instruments to break a cycle and to be pulled out from falling? The instrument number one is the positive self-estimation. All of us speak with ourselves in thoughts. Believe in that you speak to yourselves. The written word is also the powerful instrument. Read articles and books about positive thinking. Such books tell about desire to win and belief that you can overcome any circumstances. These are very inspiring books for traders.

Then you should behave so, as if you already there, where you wish to be. Adopt behavior, manners, gestures and style of communication of successful traders. In addition to autosuggestion and reading, develop mental pictures. Imagine what you are going to do with your riches or how you wish to live. Think of force, which gives you money to begin any business what you wish or to make life of other people better. Imagine the house of your dream. Program the subconscious, as though you are already there. Dare to dream. Visualization is great force of getting the desired.

Autosuggestion, words and pictures… What else? Look what surrounds you. Your success in trade will be as well a product of environment surrounding you, and I speak not only about an office place. Look at people, who surround you. Do they support your actions? Surround yourself with people who trust in you, smile, and concern with enthusiasm everything what they try or do. The best Olympic athletes always have friends and a family, supporting them at each stage of a way. You also should have such people around you, if you want to get success and to become really profitable trader.

Hope this article will bring some use for you and you will see positive results of your work in the nearest future.

It is a must to gather as much information about Forex market as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, especially on Forex market, but sometimes even one Forex books can save you much money.

What is the most important into the Forex market? You should predict the market. You should follow indicators and when they speak: “Choppy”, – you should stay out of the market, waiting only the big movements.

The market punishes you, having beaten out an account quarter. You abuse yourself, but it is too late already.

When you follow the system and leaves on purpose to fix profit, the market continues to move and you abuse yourself that did not remain in the market. Though all the same you do not understand, that it is not the main thing. It would be necessary to leave everything as it is, but you cannot.

You do not have ready decisions for every situation and sometimes you use a subjective view and the market remunerates you. It occurs when you think that understand an event, then the market takes away all earned plus slightly more for the equal account.

You are afraid to trade. The majority of people stops on this point, sometimes coming back to the beginning and repeat the same way.

Having appeared at this level, you should understand the advantage of a prediction of the markets, news, and illusions that there is some special secret of the market.

You should accept losses as necessity at trading and stop to use 80 percent of time for the analysis of indicators in favor of use of 80 percent of time on money management.

You indicators have shown efficiency 50 on 50 for years of work, but you were happy for it also.

You should know that a key to profit extraction not in reception of 80 percent of profitable transactions, and in acceptance of small losses, when you are not right, and big profit, when you are right in position deduction. Good trader never allows a position to departure from hands. If it receives bad execution of the warrant, he leaves the market. He applies to removal of profit only objective trailing stop.

Profitable trader also has a set of correct decisions for trend definition, as criteria of an input and an exit. He knows that it is not a key to the big profits, but clears up possible uncertainty.

His system is checked on the historical data and works qualitatively when you follow rules needlessly to answer additional questions. He can think that the market grows, but if during this moment the system speaks to sell, he sells without hesitation. There are no the situations, which are beyond his system, and he does everything as the computer, following instructions. The system never puts him before a double choice.

Profitable trader knows that trading is much more than just indicator for all occasions.

It is a must to gather as much information about Forex as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, especially on Forex market, but sometimes just one Forex books can be of big service to you.

Jack Bernstein is one of the most known traders in branch of futures, has started to attend to trading “casually” as he has told in interview FWN. Bernstein was the psychologist and has responded to the announcement in the newspaper about “futures”. The broker began to call him, and Bernstein has opened the account. «I have achieved fast success which has turned to fast failure», — Bernstein speaks. At that time he arrived, exclusively being guided by recommendations of the broker. Then Bernstein «has rearranged, has attended to formation and the beginnings independently to attend to trading». Now he represents to be the active trader, but participates in the auctions by exclusively technical method: out of an exchange, from the screen.

«My work always has been technically focused, with application of price laws, seasonal prevalence and cycles». Bernstein first «has developed his own method and computation of time. I did not have money for a participation in tendering, therefore I sold advices». In due course it has accumulated enough means and has started to lead trading on own method.

Bernstein holds a post of the president of firm Commodity Advisors which are in the State of Illinois, and he is the author of more than 20 books. He publishes report on Weekly Futures Trading Letter which appears since 1972, and also regularly holds seminars on the separate themes connected with trading. Bernstein also is a part of participants All Star Traders Hotline. «I like to learn. Every time when I learn, I learn something new, and it hardens my belief in my own methods», — Bernstein speaks. He adds that «among traders so much misinformation extends that I am given by pleasure to learn to things of which working capacity I am assured».

Bernstein is inclined to participate in work of the most active futures markets: energy carriers, the finance, contracts S&P. But, as he said, «I lead trading by everything that is changed in the set time frameworks». Bernstein usually avoids such thin markets, as futures for a palladium or orange juice: «it is not pleasant to me, as orders» there are fulfilled.

When he have asked about, whether there is a technical analysis erosion as the increasing number of traders is guided by the same schedules of laws, Bernstein has told: «Schedules of laws is simultaneously a science and art. I am inclined to adhere to crystal clearness in all. If 10 persons look at the schedule, and all come to an identical conclusion I feel in such situation with comfort. I like to be objective». Bernstein has resulted as an example the wave analysis of Elliott as the sample of the technical analysis inclined to bigger “subjectivity” as account of waves is subject to individual interpretations.

This veteran of the exchange auctions has opened own page in the Internet and feels the big optimism concerning “world wide web” effect trading community. «I consider that the Internet will allow extending faster the information and will allow to a greater number of people to participate in work of the markets worldwide».

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The appearance of the world web has changed a lot on the Forex market. Today you only need to have a computer with access to Internet and a small initial capital and you can enter the currency exchange market Forex and start working as a trader. You do not need to be concerned entering the Forex market.

Of course you have a lot of advantages if your have a diploma and work in an investment company, because you have appropriate knowledge in thsi case. But at the same time you have a lot of limits as objective as subjective. For example, professionals are puzzled with the problem of making their ratings higher and getting constant profit and because of that they try not to have deal with transactions that can take risk. Many investment companies have firm limitations too, for example they invest their capitals to one enterprise at the size not more than 5%.

The given limitations allow to make risks minimum, but sometimes they do not allow to make a good and large transaction and to get a large income. Players-amateurs do not have such limitations and this is their advantage. Nowadays everyone realizes that an amateur is not inferior to a specialist any more.

For last time investment clubs are created in different countries. The members of such clubs meet every month and decide the questions of assignment money to one or another enterprise. Many of such clubs have monetary activities today, that are much better than the adjectives of the companies that qualified specialists run.

Every trader has his/her own tactics of the game on the currency market. For example, on “the trade within a day” a trader has income on the application of daily meagre deviations of the price. Trader doesn’t take care of the worldwide tendency that is based on some fundamental political and economic parameters. The trader is guided by minimal information – the graphic, the accepted tool and a set of mathematical indicators, that help the trader to determine the moment of entering he market and the moment for leaving it.

Many players on the Forex market considerate well different political events, global catastrophes etc. It is obvious that any considerable event of the world scale influences on the Forex market. As a rule this dependence is taken.

As you have already realized. the business on the financial market Forex can be compared with the game in a casino. But in contrast to a casino, the currency market Forex obeys to certain laws. Using these laws helps you to increase your chances to make successful transactions.

Of course this is only a short guidance of Forex strategies, but this can help you at the beginning of your work on the Forex market. But you must study much more information if you want to become a successful trader.

It is important to gather as much knowledge about Forex as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, in particular on Forex, but sometimes even one Forex books can save you much money.

If you want to become a trader on the Forex market, then you must have many questions. What to start with? What should you study before you enter the high risky Forex market?

As a future successful player on the Forex market in your arsenal you must have the following list of knowledge and skills:

* Fundamental analysis. This is a totality of the “heaviest” of indicators as of the economy of a certain country as the sectors of its national economy. The most famous indicators are inflation, unemployment, prices for strategical and at the same time budget making raw materials (oil, gas and so on);

* Technical analysis. This kind of analysis is a bit harder than the previous one, but for convenience of potential players there are many disciplines about simple technical analysis in Internet. You have to start with the simplest rules of the technical analysis.

* The ability to “read” graphics. The most popular kind of graphics on the Forex markets are “candle” graphics. But bar graphics are still used too.

* You should develop your analytic skills. If you are able to make forecasts about the developing of the situation on the market and then to follow their fulfillment/non-fulfillment, you surely can manage with this demand.

* Financial discipline and keeping the statistics of transactions in order losses at first days will not break your wish to keep trading. The main goal of the statistics is the work under your mistakes.

* The ability to learn on mistakes of others. Many beginners of the Forex market read a huge amount of literature about strategies and trade systems of the famous traders. And this is completely right because the smartest learn on mistakes of other people.

* The ability to self-control. Control yourself, realize the responsibility for the money that you have come to the nForex market with. Get rid of the failed strategy of an inveterate player. Forex is not a place where you may play “at random”.

Remember if you want to get more, than you are supposed to receive, you will have to study more than you are able. be prepared to live in the process of constant accumulation of knowledge about the probability theory, Elliot’s waves, Gauze’s corners etc. You will have to make friends with the “method and subject” of higher mathematics and to learn hot to calculate risks immediately.

The Forex market has a very important quality that is inherent to the global trade field: this is a great place where you can get high income on condition that you know the market very well and at the same time the Forex market is the best way to drop a brick that always expects for a financial ignoramus. So, you should come to the Forex market having solid financial knowledge and your first profit won’t make you wait for long.

It is important to gather as much knowledge about Forex market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, especially on Forex market, but sometimes even one Forex books can be of big service to you.

Walter Bressert has finished college with the diploma of the economist. It has produced in it conviction that «economists not so well know how this world» is arranged. Being the active trader for many years, Bressert did his trading based on cycles and oscillators in the intraday trading by futures where the basic attention is taken away to contract S&P 500. At the same time, Bressert uses all types of technical analysis, however characterizes time cycles as «the glue keeping all together. Studying cycles, I learn a rhythm, and each market has own rhythm».

In the late eighties Bressert seemed that literatures on cycles and oscillators is written insufficiently. Therefore he has decided to write the book and named it «Power of a combination oscillators and cycles».

«Cycles show you time. But, looking at the schedule, it is impossible to understand, is there super purchase or super sale. Oscillators register these changes. If they above 80—90, it, possibly, top and if more low 30, either 20, or 10 – that it, possibly, the bottom, — explains Bressert. But it is necessary to imagine and more an overall picture: what trend?» For this purpose he addresses to cycles. For example, the trend for the day schedule is advanced by a week cycle.

In the beginning of the career when Bressert was the trader in an exchange hall, there was a following case: «the old man has approached to me and has told: trading actually is very simple – when the trend goes upwards, purchase that falls when the trend goes downwards, sell that, on what demand. I was young and have thought – that he understands? But after ten years I have realized that he has informed me the most important thing».

He underlines the importance of a trend. «Knowing a trend and working according to a trend or having a presentiment of trend turn», — he speaks. Now Bressert leads active trading by contract S&P on an intraday basis, and from time to time enters other markets. It prefers contract S&P as it «is liquid and can keep volume. It has significant movements within day, and in the market many players are mean that the hall cannot supervise all market». He considers that for intraday trading three markets are suitable only: contract S&P 500, futures for treasure bonds and Swiss franc.

Use of cycles and oscillators has allowed Bressert to produce a mechanical variant of trading that allows it eliminating an emotional element from the auctions. «The market is continuous emotion. It presses all your levers of fear and greed, sniffs up all your weaknesses. I should supervise an emotional part. I was convinced that my temperament does not allow me to be a trading star. I have found a method to overcome it, using mechanical laws of an input and an exit».

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For sure the theme of Forex market is very popular today and you have heard a lot about it. This term is connected with such conceptions like rising and fall of indexes, currency rates and many others. If you have heard a lot about that, but still have no idea of what it is then you are a beginner on the currency tender.

So, how to start working on the Forex market? How to become a successful trader? You can take learning courses that are easy to find in Internet. How to check out the authority and reliability of these Forex courses? At the beginning try to read all the conditions and programs of these courses. If a training course is authoritative, then as a rule you will take theoretical training program at the beginning, after that you will get a virtual account (demo account) and with the help of demo account you will start practicing. After the practice with virtual money you will be able to start working using your real money. In the case if you are offered to put money on an account and start training with real money at once, you should better refuse.

Demo account is just perfect fro those who have doubts or are afraid to take part in tender. It will allow you to overpower your fears, doubts and just to try yourself. In any case you use virtual cash, so you do not lose anything. As a result, even if you do not like, you will get new knowledge and will find out how the Forex market works in details. And if your demo account is growing up and you understand that this is your sphere, then you will be able to continue your training course on a higher level. But it is not enough to wish only if you want to become a successful trader. You also need to be attentive and to have analytic skills. You will find out that you have to listen to the news and what events need your reaction. Simply speaking, using mass media, you have to predict how one or another event influences on the quotations of currencies.

The work itself is not easy. You will have to spend much time at your computer, watch after changes that happen in real time in the world constantly. Sometimes you will have to work at nights. And of course this work is joined with some financial losses. You will definitely have losses and even very experienced traders are not insure against losses. Are you able to stay composed and prudent in a case if you lose money? Here you need to be patient and self-controlled, otherwise nothing will work. The majority of traders,who scraped up a fortune on the Forex market, are just iron people and they stay calm and immovable even in the most stressful situations.

It is important to gather as much knowledge about Forex market as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, in particular on Forex market, but sometimes just one Forex books can save you much money.

Fontenillz considers that has found a method to increase profit, simultaneously reducing risk.

He has begun the activity as jury accountant, but later has decided that it is not for him. After scientific degree reception in the Harward business school, Fontenillz has started to work on a property market, but then «the property market has simply died». In 1998, together with other partners of Fontenillz has decided to try their forces in the market of futures. «We have hired some guys. They have lost 10 % of our money for 30 days — and Fontenillz has decided to study trading independently. In market surveillance he showed the regular approach. «I, probably, was one of the first users of Omega Trade Station and have started to write programs to try to consider all variables connected with the auctions», — he explains.

«The first that I have established, is that volatility and fluctuations in the market mean general confusion», — tells Fontenillz. To this day he, as he said, searches for the markets with high volatility for placing of the bargains.

In the beginning of Fontenillz was the day-trader, believing that it is better supervise the risks. However then he has started to be afraid of that misses weight of fluctuations in the market, occurring for a night. Then Fontenillz has decided to study optional strategy.

«The delta, by definition, is a relation of speed of change in price of an option to speed of change in price of the future, — notices Fontenillz. The Delta-neutral means that irrespective of, there is a market upwards or downwards, I always earn money on the item».

Though Fontenillz notices that many traders are frightened off by seeming complexity of options, as he said, «people, which have understood how to earn on options, can receive the income easier and more safely, than using only futures». Speaking about base factors, Fontenillz notices: «I do not ignore base factors because I would like to know of what other people think. I earn the money basically that I arrive counter to that think all. The crowd usually is mistaken».

Though Fontenillz notices that many traders are frightened off by seeming complexity of options, as he said, «people, which have understood how to earn on options, can receive the income easier and more safely, than using only futures». Speaking about base factors, Fontenillz notices: «I do not ignore base factors because I would like to know that other people think. I earn the money basically that I arrive counter to that think all. The crowd usually is mistaken».

In search of variants of bargains of Fontenillz arrives as follows: «I look at event impulses. If volatility and impulses reach the certain level far leaving for usual limits I expect return reaction and then I place the bargain … my most profitable bargains were received when something went topsy-turvy».

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The trader and adviser Cynthia Kase has her own complex of technical indicators which she has independently developed for the trading signals. She makes decisions exclusively on these technical indicators and it is not necessary on the base analysis at all.

She has got acquainted for the first time with trading in August, 1983 when management Standard Oil of California – the companies where she worked at that time, has transferred it in a department of trading within the limits of the program of preparation of operating staff. Having a specialty of the chemist-technologist, Kase has introduced new prospects in trading practice.« In 1983 there were two things, important and interesting in oil trade, — tells Kase. – in 1983 there was a contract on petroleum-raw, and the personal computer at last has forced the way through in business. I have persuaded them to deliver the computer indoors, trading whence was led. For the trader of the beginning 80 I was very competent in the computer relation as I had a technical education ».

One of the first lessons which has acquired Kase concerning trading, was that « it is necessary to be single if you are going to become the good trader. It is impossible to listen to that what every trader thinks. I consider that it is necessary to remain concentrated, it is good to get enough sleep, save calmness and then all will get into the right place. It is impossible to feel constantly anxiety». Though she considers herself now as exclusively technical trader, as she said, «I did not start to lead technical trading till 1985. Technical trading is much more difficult, than can seem at cursory examination».

«It requires significant work and does not mean at all that having read for two days John Merfy’s book, it is possible to depart on the auctions», — tells Kase, meaning John J. Murphy «the Technical analysis of the markets of futures» which often name «the bible for technical traders».

With the course of time Kase has started to develop the technical indicators which she now offers the clients. Now she leads trading for herself, but also acts in a role of the adviser for nearby thirty corporate clients. «I am a usual technician meaning that I use laws, impulses and a trend. But, unlike empirical supervision, my indicators use statistics». Two of the statistical tools which were developed by Kase, are known as Peak Oscilltor, the indicator of impulses which can use cross comparison of the markets, and Dev-Stop, technology of installation of stops depending on volatility. In April, May and June the magazine Futures Magazine has published a series from three articles where her technical indicators were characterized in more details.

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Many beginning traders on the Forex market make mistakes of course. But what is the difference between a successful trader and a failure? A successful trader is able to learn on his/her own mistakes and a failure is never able to do that. Of course there are many mistakes that an unexperienced trader can make, let’s look through a few of them.

Traders failures spend a lot of time analyzing where the market will be tomorrow. Successful traders spend more time on thinking how to react on a current movement of the market and according to the movement plan their strategy.

Let’s make a conclusion. A trader will be successful if he/she is able to predict a reaction of crowd in one or another situation. If a trader is able to response with a rational plan of operations to irrational purchases and sales of the crowd, then the chances for winning are increasing. Here a conclusion can be made that it is easier to be a successful trader than to be a successful analyst as an analyst must predict the movements of the market and give recommendations how to get maximal profit. If you ask a successful where the market is moving tomorrow the trader will response that he/she will follow the market wherever it moves. This answer may seem empty, but it shows that the trader watches the market’s movements very carefully.

Traders failures pay attention to successful transactions while successful traders pay attention to their losses, returns and the combination between profit and risk.

Let’s make a conclusion. It is much more important to pay attention to risk than to profits and losses. A successful trader takes into account how much money he/she can earn and how much lose and doesn’t pay attention to hypothetical maximums and minimums that are associated with “right” and “wrong”.

Traders failures are often not able to control their own emotions. Successful traders are aware of their own emotions and only after that come to the analysis of the situation on the market. If the situation is not changed emotions are ignored. Otherwise the emotion is notified as right and the position is closed.

Let’s make a conclusion. If a trader closes and opens positions basing on emotions only, then his/her approach to the market can not be called either practical or rational. But it may seem strange but those traders,who do not pay any attention to their emotions, are wrong too. The best solution is to accept every emotion and then to see if the reasons that made you to make one or another step have been still saved. This conclusion also can be proved by the fact that many successful traders sometimes make decision relying on their emotions and luck and they win.

It is important to gather as much knowledge about Forex market as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, in particular on Forex market, but sometimes even one Forex books can be of big service to you.

Grant Noble searches for forex signals in mass media.

The trader Grant Noble pays attention to mass media to distinguish signals about becoming ripe tops or market bottoms. However, he studies the press opposite with usual method.

Noble for the first time has got acquainted with branch of futures, working as the retail commodities broker in the late seventies. «I saw weight of methods to lose money, and it seemed to me that few people earn money. The last 15-16 years I have spent, trying to understand, in what the reason». Noble, as he said, does not participate any more in the auctions by futures: «From time to time I have rest from the auctions». But at it still it is a lot of ideas concerning a current condition of the markets. Noble is the author of the book Traders Edge, published in the end of 1994.

Its basic strategy consists in arriving counter to messages of permanent assets of the mass information. «If the American press shouts that now the most improper time to buy up shares I buy up shares, — tells Noble. – mass-media always within opposite indicate, when there will be a top or a bottom».

«My approach in trading is the following: I consider that the markets are easy enough for predicting the next three or five months, but still it is necessary to develop system which would show long-run trends», — Noble has told.

«In the end of April the newspaper« New York Times »came out with the big article on the front page about wheat. It was day of top for wheat. All mass-media began to show very much« bull »moods concerning the grain markets in the end of April, and thus have prompted to me that the top is already reached», — tells Noble.

It is necessary to pay attention to editorials — Noble tells, explaining, he pays attention to which publications. – in April, 1994 there was a big article about shares of the technological companies …, so much publications approved that the share market in an awful condition, and for two years it has increased by 50 %». He speaks: «that I do with the press is only a choice of tops and bottoms … it is possible to do a pair of clocks in day, and all time in the screen» is no need to look,

Now Noble tests “the bull” moods concerning the market of the American bonds which all 1996 continued to fall sharply. «At bonds six-month rally begins, — he explains, — with the minimum purpose which is coming nearer even to 117 (under futures contracts on the bond). Now practically all kick a bond market with feet. For the last some weeks I have counted from 15 before 20 publications of negative character».

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The Forex market is one of the most attractive places where you can earn large money. This is what advertising announcement promise to you giving you guarantees that the Forex market is made to earn easy money. Others contend that Forex trade systems is a deception and an attempt to make unsuspecting users spend their money.

But the Forex market is not the first and the second statements. Forex is a currency market where you have to WORK. You need to understand Forex signals, to know how to play on the stock and how the price of gold can influence on your profit.

The advantage of the Forex market is that it doesn’t have time limits and territorial boundaries. The world currency system is always active, so transactions on the Forex market are arranged every second. The life in the Forex market never calms down.

But if you think that trade on the Forex market is an easy task, and it doesn’t require any knowledge, you will be disappointed. But if you understand that Forex allows you not only to get good income but it also expects your diligence and desire to learn, then this world is for you.

There is a question, if the beginners can play on the Forex market? They definitely can. But only if you understand that you have to learn how to work on the Forex market. There are two ways to understand the philosophy on the currency markets, you either can learn by your own or to use the experience of other people who want to help you, but not just promise you millions of easy money.

You have to realize that no one of Forex traders became a millionaire as soon as he/she started working on the Forex market. All the traders has ever started. And all of the traders had to learn and they often learned on their own mistakes losing their own money.

Nowadays beginning traders are in more advantageous position. Because they can take studying courses and to learn how to work on the Forex market with many different ways. You can find a lot of web sites where you can learn how to work on the Forex market for free. You will get the information you need, help in choosing a game platform, learn about trade strategies and types of analyses.

If you make your first steps on the Forex market, then you should better start with learning the history and the basis of the Forex market. Learning the history and basis of the Forex market, you will find out what the world currency system is like, what the contracts of the prices difference are, futures and Forex rates of currencies. And the most important is that you will learn how to play on the stock, how to earn income and that these possibilities are real.

It is vital to gather as much knowledge about Forex as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, especially on Forex market, but sometimes even one Forex books can be of big service to you.

Though Redmont bases the trading mainly on theories of volume of Wyckoff he recognizes that «systems do not exist. It completely depends on the concrete person, how much it is good. I adhere to simple principles. I need to know, in what direction the market moves. Redmont protects theories of volume of Wyckoff, speaking:« They work, because they represent the market. You analyze the law of supply and demand ».

More in detail to explain substantive provisions of the theory of volume of Wyckoff , Redmont results a simple example: «you look at shares. In their first day 10 000 pieces are sold, and the price is lifted on one item. The same occurs for the second day. For the third day 20 000 pieces are sold, and the price increases on one item. For the fourth day 40 000 pieces are sold, and growth constitutes half-item. For the fifth day sell 80 000 pieces, and the price does not vary».

«For the third day it is necessary to apply twice more efforts to receive the same result, as in the first day, — notices Redmont. – The main thing in the supply and demand analysis is that demand dies away in itself. There are no urgent reasons (except fear to get« in short ») on which somebody would like to purchase something. But there are one million reasons for sale. When buying up has ended, and demand is satisfied, all the same there is an offer. That is why the prices decrease faster: because, the offer is always, and demand is not present. It is necessary to disappear to buyers, and the prices fall».

Though Redmont he considers that theories of volume of Wyckoff are applicable and futures: «What difference what to analyze — S&P, sugar, a clap or the Japanese yen? The analysis all the same». In the trading as marks Redmont, he observes after the sizes of deviations and rally of the markets: «Now, a code of number of Fibonacci became more popular, the market began to connect 61,8 % and 31,2 %. Now 50 %» are very seldom corrected.

Being based on works of Fibonacci, many technical analysts came out with the assumption that financial markets are inclined to be changed in sequence which can be measured by these numbers, including 61,8 % and 31,2 %. Redmont, however, notices: «if there is a movement upwards, and then correction it is necessary to expect volume falling, and to 61,8 %».

Though Redmont notices that the theory of Wyckoff approaches it, he suggests the future traders to read two books of Jack Schwager: Market Wizards and New Market Wizards. «Read them with one thought in a head: that 40 different people managed to become successful, attending to different things».

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Being the trader of euro dollar futures in a hall of the Chicago commodity exchange, Angelo Reynolds considers as two major factors of success strong nerves and bravery. «I always knew that I wish to be connected with the markets», — he speaks. Having ended Pennsylvania University in 1984, Reynolds has started to work as the dealer (runner) at Philadelphia stock exchange.

After he has fulfilled on a trading platform, Reynolds has promoted the broker and began to attend to options of exchange. In 1987 the Chicago trading house has addressed to it with the offer to attend to trade in bonds in a hall of the Chicago trading exchange. But at that time, according to Reynolds, «the market in Philadelphia was good, and I was not ready to moving». Some years, however, the market of options of exchange in Philadelphia began to fall into decay.« As soon as the market has started to be braked, I began to think of moving to Chicago », — tells Reynolds. In June, 1991 Reynolds has got over to the Midwest and has attended brokerage in an exchange hall with euro dollar futures for firm Quantum.

Successfully having conducted in this quality three years, Reynolds began to think of becoming the trader: «I have studied the broker within eight years, and work as the trader grants more financial possibilities and it is more interesting». In June, 1994 Reynolds has taken decisive step and has passed in firm Deerpark Derivatives to a post of the trader in an exchange hall. «The first couple of months it was a little scary», — recognizes Reynolds.

He, however, adheres to several «key rules known for all» which have helped him to become successful. «In my type of trading – scalping – all time from red ink operations is necessary to leave and to rely on advantageous», — he speaks. Every day Reynolds together with other people squeezes into a euro dollar hall and searches for possibility of use of a short-term inefficiency of the market to own advantage.

Other key rule to which Reynolds follows, conducting trading within own financial possibilities is:« It is impossible to lead the trading exceeding the size of your capital, trading should be within 5 % of the capital ». Being a «scalping»trader, Reynolds uses average time frameworks within minutes.« As soon as figures come, it can be a fraction of a second for the bargain, and can be from two till three o’clock … on the average leaves about five about ten minutes ».

Answering to a question on what qualities are necessary for success in an exchange hall, Reynolds has told: «First, reliance. Secondly, strong nerves. Thirdly, ability to communicate with people. Fourthly, the understanding of bases of the market, and, fifthly, — availability of the sufficient capital, and is unessential in this order».

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According to a succssful trader Joe Stowell, courage and persistence is the key for successful trading. Persistence, undoubtedly, has yielded the fruits for Stowella, which attended to trading at leisure throughout 20 years before to keep the work of the school teacher and completely to devote itself to trading.

Joe Stowell for the first time has intrigued the market of futures when it in a youth earned additionally on potato packing. Farmers surrounding him participated in the auctions by futures contracts on a potato from the State of Maine, attending to hedging or gamble. «I have started to monitor quotations under newspapers», — tells Stowell. In college he has tried to learn more about the market of futures, but in the early sixties this theme has been devoted a few books.

Joe Stowell has managed to find out in library the book under the name Commodity Speculation — With Profits In Mind), L. Dee Belveal. At that time Stowell has opened trading account at the broker in Rochester (State of New York) where it was trained in postgraduate study, and, as he said, «all of them time sent me these brochures about technical and base factors, and I had no the slightest submission about what they speak».

Subsequently Belvil has published the second book under the name Charting Commodity Price Behavior, and Stowell has purchased it. «Soon I have started to draw schedules by hand. I tried to be taken by trading periodically throughout twenty years, every time when it was possible to me to accumulate for this purpose enough money», — he recollects. But only in 1984 Stowell has developed the law «cups and caps» representing three-lane formation on the technical schedule, signaling about short-term bargains. «It seemed to me that I, at last, have found out a method to participate in the auctions and to receive from it the income», — tells Stowell.

Joe Stowell has started to lead trading on the engineering «cups and caps», representing especially technical approach, in 1985 from the account in 5000 dollars. «Later the little more than two years at me already were 100 000 dollars. I only drew money from account, never there put nothing, — he tells. – in 1987, having earned 100 thousand, I, at last, have thought that is already prepared enough to attend to it completely».

He has taken biennial vacation to begin trading. «When time from holiday heart and soul I belonged already to trading and the markets has come to come back, therefore I have left», — he speaks. Since then his trading and investments have extended, including shares of the individual companies and gold mutual funds, but Stowell considers law «cups and caps» as the basic help.

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Cartography of possibilities is the process, which will prepare your thinking for expectation of improbable, so, it will allow you to put the barrier to any emotional reactions. If you have decided to devote your life to trading in the Forex market, it is necessary to get more information about methods of trading and about different useful tricks, which could make your trade more profitable. Cartography of possibilities is one of such tricks. Go on reading…

There are two basic types of cartography of possibilities. Exact cartography of possibilities, which should be used if you try to make trading decisions one day earlier; and cartography of possibilities of price models – when you make trading decisions at supervision over formation of models of the price. You should choose yourself what kind of cartography is better for you or to try to apply both of them.

In case of exact cartography of possibilities you, at first, define the transaction, which you wish to make. Then you write out all possible scenarios of movement of the price after your entrance into this transaction. Certainly, there is bigger quantity of scenarios, than you can define. However, it is necessary to identify the basic groups of scenarios, where each of scenarios in the given group finally would end with the same signal. These groups are limited and can be easily defined. Then you should solve how it is possible to react in each case. When you apply this method you will be ready to different situations and will decide in advance how it is possible to react on one or another situation.

On the other hand, in case of cartography of possibilities on models, you define some possible groups of models of a general view, which you can see and solve, what actions should be undertaken in each specific case. After some time you will plot possibilities faster and more precisely. You can go and further, defining what you could think, when these possibilities will occur actually. Don’t forget to write down all your thoughts into diary. Don’t think that it is very easy to make so much detailed plan of your actions and possible situations – it is quite difficult. But you will see that this method will help you to trade more profitable.

By such preparation you will live the tomorrows market the day before. In this case you actually eliminate possibility of overstrain because of unexpected scenarios. The cartography of possibilities can also improve quality of your trading decisions and an identification of some models. Besides, reconsidering and comparing former possibilities to your trading diary, you can find key models in the trade; define areas in which you are insufficiently prepared, and spheres in which you are strong. Good luck!

It is important to gather as much knowledge about Forex market as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, in particular on Forex market, but sometimes just one Forex books can be of big service to you.

The most serious problem of many beginning traders – a discipline lack. Instead of following to the transaction plan many beginners lose the control. They impulsively refuse the plan, reaping the fruits in the form of changeable profit, and more often serious losses. Psychologists concern discipline as to “the impulsiveness control”. There are some classical researches, which illustrate as people can strengthen the ability to operate impulses.

In original research of the control of impulsiveness doctor Walter Mischel with colleagues has studied children’s ability to postpone compensation. Like many children, participants were a little hungry, and they were offered to have snack bagels. To receive a bagel, it was required to press only the button and the laboratorian will bring the order. But there was also a dirty trick: if they have waited, without giving in to a temptation to call, they could receive many bagels, delayed, but more desirable award. In this research are interesting situational and psychological factors of how long the child could detain compensation reception. The first factor – visibility of the award, either it was directly in front of the child or has been hidden. Predictably, it is difficult to postpone compensation if bagels are in front of you. Children could not wait. When the meal was directly in front of them, they preferred to eat one bagel at once, than to expect some of them then. This conclusion is especially applicable to trading. In trade it is considered not too reasonable to supervise a transaction course constantly on the screen. Some traders say that it in many respects like the playing automatic machine. It simply tempts you to play, when actually you need to wait only for a signal on an exit. If you have a problem with the impulsiveness control, you should avoid looking at the screen, when there are no urgent reasons to supervise the transaction. For struggle against impulsive temptations it is possible to use automatic orders of your trading platform.

For strengthening of the control of impulsiveness it is possible to use thinking strategy also. For example, doctor Mischel has found out that children could abstain from desire to eat bagels if will change the point of view on them. If they thought of bagels as about meal, they would like to eat. But if they represented bagels as wooden or plastic wheels, it was much easier to restrain. This trick also can be used into trade. One of the main reasons forcing beginning traders to refuse the plan of trade consists that they consider the capital invested in the transaction, as real money. They think what they could buy on this money. But it is better to concern the capital so abstractly, as far as possible. It is better to see in it percent or only figures, which do not concern something material. In this case it will be easier to keep discipline. Also, as children can abstain from bagels if do not see meal in them, traders can avoid to operate under the influence of fear and greed if do not see the cars hidden in the capital, luxury goods or houses. The more you abstract from the money invested in the concrete transaction, it will be easier to trade.

If the impulsiveness control is a problem for you, do not lose hope. There is strategy, which you can use to raise your ability to keep discipline: avoid unduly often looking at the screen and as much as possible abstract from the transaction. Never forget to follow a detailed plan. Learn to trade correctly and you will achieve long-term success of the winning trader.

It is vital to gather as much knowledge about currency exchange market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, in particular on Forex, but sometimes just one Forex books can be of big service to you.

If to ask trading experts, they can depict characteristics of the ideal trader as follows: intuitive, but logical and objective; spontaneous, but also disciplined; assured and opened for criticism. People can be inherent traders, if they have these qualities by nature. Do you believe that it is possible to be born as a trader? Or do you consider, that it is possible to teach the majority of people to trading if to spend enough time and forces for training? Irrespective of your thoughts, your opinion can vary about it how you approach to studying of trading and how much you are tolerant to trading costs.

Psychologist Carol Dweck has spent some researches showing that our assumptions of certain ability, for example, concerning skills of trade, powerfully influence our interpretation of events and reaction to them. The person, who believes that people are born as traders, concerns the first group. Such belief involves essential consequences. If someone is convinced that he is inherent trader, he puts to himself the high efficiency purposes. It occurs subconsciously. People who believe that they have natural propensity to trade, try to take advantage of the talents. If you would be the virtuoso, you, probably, also would use the skills and would reach the higher results. Such way of thinking works perfectly, when it is realized one profitable transaction after another, bringing huge incomes. Expectations prove to be true and to shake them it is required substantial losses. In such situation it seems that you just cannot make something wrong, it occurs a belief in natural abilities to trading. But, unfortunately, market conditions changes, and you haven’t constant profits any more. When it occurs, results of work cease to correspond to representation about themselves, as about inherent traders.

Much more correctly to consider abilities to trading, as something what you can learn. In other words, it is more useful to believe that people are not born as traders. When we consider trade as discipline, which you can learn with the help of practice and efforts, failures are seemed only as an objective feedback, but not as an estimation of the natural ability to trading. Such people are not anxious by obligatory achievement of the purposes of high efficiency; they concentrate only on process of development of the skills. Despite of failures, which they face, they continue to go persistently forward. They believe that finally they can develop high level of skill, but for now they concentrate on process of studying of trading, and accumulate experience as soon as it is possible.

Are there inherent traders? It is a disputable question. It is not useful to believe that there are inherent traders. Such belief will bring more harm, than advantage. It is much better to believe that any person can learn to trade, if will make sufficient efforts. Believing that you can master trading with the help of practice and experience, you show persistence, even when you face failures. And, eventually, you will develop skills of consistently profitable trader.

It is a must to gather as much knowledge about currency exchange market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, especially on Forex, but sometimes even one Forex books can save you much money.

The Japanese candles represent «mathematical expression of psychological market moods» for the trader of Gary Wagner, using these east technical indicators in a combination to the western tools in interests of the active trading.

Gary Wagner has studied in commodity business some years before has started to use the Japanese candles at interpretation of the markets. Upon termination of college it has come to branch as the broker, and as he tells, «in 1989-1990 Future Source has started to show price range concerning time by means of candles. It seemed interesting, but I did not imagine especially what they meant. It was necessary to attend to extensive researches». Book of Seiki Shimizu under the name The Japanese Chart of Charts which he names «the alphabet for each technician in the USA. I have read it and as though have begun to see clearly. After I have understood it, my trading immeasurably has improved. I have started to earn money, and my clients have started to earn money too».

The Japanese candles differ from the traditional western histogram. The usual daily histogram shows the vertical strip representing results of one day. On the histogram are shown high, low and the price for closing of trading sessions, and last it is shown by a tic to the right of a strip.

Unlike it, the Japanese candles represent a rectangular cut with two thin lines over and under it. As they say in the book of Gary Wagner and Brad Matheny in the book Trading Applications of Japanese Candlesticks, «candle, or polar, the line is advanced as one complete cycle, with the prices at opening, low, high and closing. The thick part of a candle is known as really body. Thin lines over and under a real body are called shades and represent high and low for the given cycle … the White candle (empty) is received, when for the given cycle a rate on closing hardly above a rate at opening. Black candles (complete) represent opposite – high rate at opening should be above close the prices for a cycle ». Gary Wagner, however, uses the Japanese candles in a combination to traditional methods of the western technical analysis.

«Use of candles is a sure thing for the western technician. We use sliding average, stochastic, lines of trends. But usually more information can be received, having looked at a candle. The reason in that the western technician places emphasis on the prices between two closings», — notices Gary Wagner.

However candles show «dependence between the price at opening and closing for the given day. In dynamic sense, every day there is a fight, and the candle shows its result». The Most important result which Gary Wagner has acquired as the trader, consists that «the market develops irrespective of, whether it would be desirable you that it went uphill or fell … It is impossible to become attached to one item. It is necessary to have the systematized methodology which in the greatest possible degree would supersede emotions from trading ». Besides, he underlines necessity for traders in advance to be advanced in the sizes of risk and profit.

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Everyone has own style in acceptance of trading decisions. Some listen to intuition more, whereas others firmly follow the concrete analysis. Many traders avoid risk, but there are the impulsive persons, desiring risk. Each style has advantages and restrictions. It is useful to know, which style approaches you personally, and it is important to know, how it can influence your trading decisions.

There are, at least, three basic styles of decision-making:

- Focused on the data;

- Intuitive;

- Impulsive.

The trader focused on the data concentrates on the concrete facts and extremely not inclined to risk. He tries to find so many data in support of the decision as soon as it is possible. The trader, preferring to spend extensive testing of the ideas, illustrates this style of decision-making. It is useful to include elements of such behavior in your style of trade irrespective of your leaning. It is vital to be convinced that you have the adequate information before transaction fulfillment, and it is especially important to have the detailed plan of the transaction, which minimizes risk and accurately defines entrance and exit strategy. But the trader focused on the data can go too far. He can search for “perfect” knowledge, which does not exist in the trading world. The knowledge usually can be mistaken, and the markets only repeat in the movement. At some moment it is necessary to accept the fact that the trader always relies upon probability and, how many you analyzed the data, this fact remains invariable.

The intuitive trader – contrast to focused on the data. He bases the trading decisions more likely on guesses and sensations, than on accurately certain data. There is a distinction between the intuitive trader, who has developed such style eventually, and intuitive by nature. Traders, intuitive at heart, neglect the analysis of the data at development of decisions. They have not got used to carry out detailed researches of problems and situations and, thus, often make transactions without the sufficient basis. The skilled intuitive trader, on the contrary, bases decisions on the data and the certain market information. But, as he is a skilled trader, he analyzes the data quickly and effectively. It occurs so quickly that becomes similar to inspiration, but actually everything is based on the concrete information. In an ideal, all traders should come to such condition, when decisions are accepted at intuition level.

At last, one more style of decision-making is the impulsive trader. It is the most dangerous style. The impulsive trader allows his decisions adversely to influence on trade. Instead of considering the information logically and analytically, it is completely ignored. The impulsive trader searches for risk and likes to enter into dangerous, exciting transactions. Impulsive traders can show huge profit and after it huge losses at once. Many traders are to some extent inclined to such behavior, and you should restrain it. Do not allow to desire of an extreme to take top over yourself. Wish you good trade!

It is a must to gather as much info about Forex market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, especially on Forex market, but sometimes even one Forex books can save you much money.

Larry Williams: preparation is the main thing in trading.

The trader and a runner Larry Williams draws parallels between successful trading and successful run on a marathon distance. Williams, recently in the sixteenth time successfully run marathon, indicates “pain and suffering” as on two most obvious points of similarity between trading and run on long distances.

«Everyone can run a marathon after preparation. The same concerns and commodity trading – if you were well trained, can hope for success», — he speaks. «On each distance there is a point when you feel disgustingly, but it is necessary to run forward and to put one foot ahead of other. The same is also in trading. It is necessary to do the bargains one for other, — Williams tells. – When I reach such point on a distance I slow down run a little. Similarly with trading: when I lose in the market, I depart aside and I transport breath».

Williams has attended to trade in shares in the early sixties. However after ten years its one friend has advised to it to pay attention to goods markets as, as he said, Williams, could there «weld on more». And it “has really welded on” decently. In 1987, within the limits of the world 12-month’s tournament of traders Robins World Cup Trading Championship, it could transform 10 000 dollars into 1 100 000 dollars, — achievement which any trader could not surpass still. Williams names itself «the contextual trader», using a mix of engineering and base concepts. Now it leads trading for itself(himself), attending basically to futures for treasure bonds, futures S&P 500 and exchange rate futures, working in limits from one about three days.

When he has been asked a question on a condition of currency futures markets, Williams has answered: «I do not think that currencies die. The markets always pass certain stages. That has upset funds, so it that their programs of tracking trends have not worked (as currencies became recently stable)».

Williams is the pioneer in application of the pulse indicator %R. «That work which one person has done with stochastic has made upon me impression, — he speaks. – I liked idea, but stochastic has seemed too confused and heavy for understanding». The indicator %R as it is told in «Technical analysis of the markets of futures» John Murphy, «it is based on similar concepts of measurement last the prices on closing in relation to a price range along certain quantity of days.

The today’s price for closing is deducted from the price high in a range of the set quantity of days, and this difference is divided into all price range for the given period “.” The Price for closing close highs, within a range, means that there is a powerful buying up, — Williams explains. – top of the markets – when they reach highs on closing, and a bottom of the markets – when they are closed on the bottom point. The markets reach top as buyers any more does not remain. %R allows you to see it ». At the same time, as he said, this tool should be used in the general context of the market.

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Many skilled traders say that cultivation of peak thinking – a key to profitable trade. For example, there are moments when everything is very good. The trader is in harmony with market waves. He feels, what should happen, and absolutely without any uncertainty in himself or fluctuations, can make transaction after transaction very easily. During such moments the trader passes to higher level of a psychological condition, being blended with the course of trade. All attention is concentrated to trading. This is very pleasant and useful condition. It does not happen, that the trader constantly felt a peak condition of consciousness, but, probably, there is no necessity in it. Such condition is a good ideal to which it is necessary to aspire. Every time when you can cause peak thinking, your trade will be the best.

What is the peak condition of mind? There are various names for it – “zone” or “stream”. Psychologist Abraham Maslow was the first, who has started to study peak condition; he investigated the self-realized people, who often mentioned peak experiences, when they felt a highest level of existence. Recently, psychologist Mihalyi Csikszentmihalyi investigated people, who felt “stream”. The stream is an optimum condition of thinking. It is pure pleasure of personal experience when all attention is concentrated on a current problem. This feeling is so universal that you lost sensation of yourself. The mountaineering can serve one of the best examples of a stream. It demands the focused attention and at the same time is extremely rich with openings.

Researches have shown that the stream happens, when there are eight conditions. The more often you will test each of these eight conditions at trade, the faster trading will become as a pleasant experience of a stream for you. Let’s consider these eight conditions, and also how they can be executed. First, the problem or the purpose should be achievable. In other words, the current purposes cannot be too abstract or too far. For example, in trading it is better just to make transactions instead of dreaming of profit or achievement of unreal indicators. Secondly, the person should be able to concentrate on what he/she does. In trading it is vital to have the detailed plan of trade and to supervise risk so that you could concentrate on transaction. Besides, it is important to keep the control over the psychological conflicts and stressful factors so that they did not stir your concentration. Thirdly and the fourth, the task should have clear aims and a constant feedback. Probably, trading can become as a stream experience just because the purposes are clear and there is a constant feedback. The detailed trading plan helps you to keep clearness of the purpose. And the appropriate signals caused in advance, carry out a feedback. Fifthly, stream experience tightens you deeply and without efforts. People take a great interest so that forget about daily cares. Sixthly, enduring a stream, people have accurate sensation of the control over all actions. The seventh, in this condition it is lost sensation of yourself. Some traders say that when they are in the transaction, they are so concentrated on it that shyness vanishes, for example; complexes or constraint disappear. They concentrate only on trade. Time flies very fast. Hours can fly by, as minutes.

Under suitable conditions trade can be stream experience. Finally, you choose the relation to trade. Think of it as of pleasant experience and you will exactly take pleasure in this travel.

It is vital to gather as much info about Forex market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, in particular on Forex market, but sometimes even one Forex books can save you much money.

1. The lack of the brave capital in the market means the inadequate capital for a diversification of the transactions.

2. Some speculators have no sufficient hardness to accept small losses or patience, to allow profits to grow.

3. The greed shown in attempt to grasp top or the basis is enough widespread error.

4. Absence of the trading plan as a result leads to lacks of management of the capital. Then, when there is an excessive involving of own ego, it comes to an end with emotional trade.

5. Often traders estimate the markets, proceeding from a current situation, without taking into consideration wider picture.

6. Speculators allow emotions to eclipse reason when the markets go or to their party, or against them. They have no trading plan or do not follow it. The good plan should include protection tactics (stop warrants, hedging etc.).

7. Some traders do not wish to trust price action, and thus try to trade against a trend.

8. Many speculators trade only in the market tool.

9. Too fast exit from the market developing a trend, or too long deduction of losing positions comes to an end with loss of the trading capital.

10. Trade against a trend is a usual error. It can follow from excess of a mode of trade, too a considerable quantity of intra-day transactions and the insufficient capitalization aggravated with absence or unacceptable management by the capital.

11. Often traders jump in the market, being based on the information read somewhere in mass-media, without understanding that the market already has completely considered this information.

12. The self-discipline lack from outside conducts traders to losses. Traders tend to do inadequate conclusions.

13. Traders accurately do not define and then do not adhere to risk parameters.

14. The majority of traders exceed a trade mode, without doing sufficient researches. They open too many positions, having not enough information. They do many intra-day transactions, without having for this corresponding marginal maintenance. Thus, they begin incapable to accept small losses.

15. Many speculators use “wisdom” which is or insignificant, or «out-of-date news» to the market. They take small profit, without allowing growing it, and tending to keep losing positions. The majority of traders do not spend time and efforts to the market analysis, or analyzing the emotional inventions.

16. Too many traders do not apply capital management methods. They have no neither disciplines, nor the trading plan. Many also “stiffen”, when the market goes against them, and do not limit the losses.

17. Many traders are not financed well. They trade in too big positions concerning their account capital. They are insufficiently flexible to change the opinion when the market obviously goes against them. They have no good plan of “battle” and sufficient bravery that it to adhere.

18. It is not necessary to make decisions, counting on the insider information. First, it is illegal, and, besides, usually it happens because of misinformation.

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The exchange rate of various currencies to each other always varies, floats under the influence of various factors. The trade on the currency market is based on the movements of exchange rates. We will stop on it more in detail.

In the modern world almost everyone used to try to be engaged in trade, or is trying at the moment. Let’s compare the trade on the currency market with an average “commodity” trade. At usual trade you buy goods, move them (goods) to a place where it is more expensive, and sell the goods there. Often the goods is not moved, and the dealer waits for some time till the goods’ price will essentially increase and then sells it. The formula of this process looks in the following way: you take money, buy goods, sell goods, get profit minus your expenses.

The advantage of this business is possible reception of high rate of return, to 100 % (at a successful choice of the goods). But with the trade development it becomes more difficult to find the goods that may bring such profit, the competition is increasing, there is market “overstocking”. Besides, many goods have the limited working life, are subject to damage and other risks. Expenses for goods transportation even within the country are rather great, and there are a lot of organizational questions that you must solve. There are also a lot of factors that essentially reduce profit. It is possible and “not to guess” with the goods, and you would have to “merge” it for the price, smaller, than bought.

To increase profit there are only two ways – to take the credit and to increase quantity of the goods (or assortment) or to accelerate the turnover of the goods, “dumping” it at the prime cost almost. It is necessary to pay for the credit high interest rate, and in case of the loss of goods, it is possible to lose everything that served as credit securing. As a result, an average shop which organisation is usually required about 20 000 US dollars, at the best side brings to the owner about 1 000 dollars a month and constant employment.

The Forex market gives something that is much more favourably, more effectively and more safely. The formula of this trade:

Money-> other money-> money + profit.

# Money are not spoiled, as there is no their “physical” moving they cannot be stolen.
# At the same time full preservation of secret of all your actions is possible.
# you do not have workers who can steal your goods or income and always let you down, especially at the key moments.
# you do not need a placement, a warehouse and different equipment………..
# you do not have to drive somewhere every morning, to meet with someone, to ask someone, to run somewhere etc.

Profit reception on the currency market is based on constant movements of exchange rates, and it is possible to profit at any direction of change of currencies.

It is vital to gather as much knowledge about currency exchange market as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, in particular on Forex, but sometimes just one Forex books can save you much money.

The essence of the work on the Forex market.
The work on the Forex market will allow you to manage your assets effectively and to invest them to a highly remunerative and highly liquid business. The income turns out because of the constant change of exchange rates and the possibility to operate with the sums that of 100 times exceed your initial deposit.

Earnings principle: you buy or sell one currency (and at the beginning it is not necessary to have the currency in order to buy or sell the currency, it will be given by the broker to you), and then after time the return operation is made, the difference of the rate’s cost is your income.

But how to determine what currency should be bought and when to sell it? You must do analysis of the Forex market to determine the movements of exchange rates. There are two kinds of analysis: the fundamental and technical analysis. Each of the kind has its advantages and disadvantages. You should explore both in order to determine what kind of analysis you should prefer. It depends only on your own preferences and skills.

Experienced traders who successfully work on the Forex market, recommend not to neglect one or another kind of the analysis. The fundamental analysis allows to understand the tendencies of the currency market in long-term aspect and at present time. The technical analysis, in turn, with the help of every possible tools gives the chance to imagine visually the existing trends and to estimate the possible levels of the beginning of the big movements (or their terminations), the quantity of movements, their probable corrections, and the most important thing is that the technical analysis allows to define levels for opening and closing of positions.

However sometimes there are events on the market, that can be explained (or predicted) from the point of view of only one of analysis kinds. For example, if during the given period of time there is no intense influence of fundamental factors on the currency market then the dynamics of the market can be judged only proceeding from the technical analysis. During such moments of time the movement can be kept either on a trend, or correction to it can begin, or the rate will make fluctuations in the horizontal channel. Depending on the lines of trends and indicators of the technical analysis show, traders make decisions.

There can be other situation when it is possible to explain the big movements only as a result of the analysis of economic or political events (fundamental analysis). Vivid examples of such situations are every possible crises of course. During such periods traders often forget about every possible levels of support or resistance and about technical indicators (though at more careful analysis on such markets it is possible to find the technical laws). In this case it is very important to define the tools that are most subject to influence of crisis and a direction of their probable movement. At trade in such conditions in the foreground there will be a direction chosen and on the second will be chosen various attributes of the technical analysis.

It is vital to gather as much information about currency exchange market as possible. Because this knowledge will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, in particular on Forex market, but sometimes even one Forex books can save you much money.