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The FX Professional Trading Line, that provides a daily analysis of the action in the market and provides an insight into where the trading action is likely to be, is now available in a new visual format.
The previous format required the listener to access screenshots while listening to the recording, whereas the new video format makes it simple for the user to simply watch the video while our trading expert is discussing the trading activity.
Click here to see today’s Trading Line video now
Forex Trading Webinar Today at 5pm.
Our regular weekly webinar is today at 5pm.
Mark will look at the weeks action on the major pairs and summarize a few trades that were identified through the FX Professional Trading Line.
We’ll then look forward to the week ahead and identify some of the key longer term support and resistance lines.
In addition we’ll be be looking at some analysis of how to use the 200 simple moving average in our trades.
To attend the webinar you just need to click
here to go to the webinar room.
Then click the button to ‘Enter as a Guest’ and enter your
name into the box provided before clicking ‘Enter Room’
The webinar is due to start at 5pm however we would suggest
going to the room a few minutes before so you’re ready in time for it to start.
If you go to the room too early, that’s fine, but you will
see a message asking you to hold until the host has arrived and opened the
webinar room.
The webinar will be hosted by Mark McDowell, one of the FX
Professional team of mentors, who will give an overview of how the webinar will
work and instructions for raising questions etc at the beginning so please be
there promptly at 5pm.
If you have any queries prior to the webinar please feel
free to email us at training@fxprofessional.net
Enjoy the webinar!
FX Professional has launched a free trial for all new users joining in January 2012.
The service includes a complete Forex training course, personal one to one mentoring from an experienced trader, weekly webinars and access to a daily trading analysis telling its members where the trading activity is likely to be.
Part 2 – Forex trading tips
Following on from Part 1 – Forex trading tips, we will today look at further ways of avoiding novice trading mistakes.
1. Remain disciplined and follow your rules.
One of the most important skills needed in trading is being able to be disciplined. You need to be able to decide on how to apply your set criteria to each trading situation and then be able to go ahead and apply it without compromise. It is very easy to lose your focus and compromise on your criteria because you want to trade, however you should be disciplined not to do this as you need to make sure that every trade meets all of your trading conditions. As discussed in Part 1 – these trading conditions are defined criteria which you have set out and agreed with your mentor before you start any trading.
2. Never risk more than you can afford to lose.
This statement may sound obvious but it is probably the most important rule in Forex trading. This is important for 2 reasons, firstly, for financial reasons, and secondly, if you are trading money that you can’t afford to lose, this can compromise and affect your judgement which could mean your trading decisions will be influenced by the worry of losing this money. If this compromises your trading decision making, it will result in poor trades.
By following the Trading tips above and those previously covered in Part 1, you are greatly enhancing your chances of becoming a successful Forex trader.
Part 1 – Forex trading tips – Today we will look at ways of achieving a successful trade.
Avoid novice trading mistakes by following the guidelines below:
1. The ‘Trend is Your Friend’.
You should pay close attention to what the trend in the market is doing, this is indicated by the Moving Averages and try to ensure that you are trading in the same direction as the trend.
2. Make Sure Every Trade Meets Your Minimum Criteria.
Be sure to set out clearly defined criteria, which every trade should meet before you start Forex Trading. Your set criteria combined with using the indicators and looking at the strength of the trend will enable you to analyse when you should go ahead with a trade. These criteria should be discussed and agreed with your mentor.
3. Don’t watch your trade.
When you have made a decision to trade, go ahead and set it up and then have faith in your analysis. Do not be tempted to watch the trade because this may open up the opportunity in which you may start to question yourself and you may potentially lose discipline. Be confident in your analysis and your decision and let the trade run its course.
In Part 2 we will be looking at other tips which should be followed in order to make a successful Forex Trade. These will include looking at the importance of remaining disciplined when looking to trade and another important principle of trading; to never risk more on a trade than you can afford to lose.
FX Professional is running a free Forex Trading Webinar in conjunction with Thomson Reuters on 13th January 2011.
To enroll please follow this link: http://www.thomsonreuters.com/webinars
Introduction to Trading Forex
An introduction to trading Forex using a defined and proven strategy including an introduction to the required set of indicators and an understanding of simple money management techniques.
During the webinar we will give people an insight into everything they will need to know and understand to start trading Forex successfully. The webinar will be divided into 4 sections which will include a complete introduction into trading Forex. The 4 sections will cover:
1. Introduction to the Forex market & Metastock- a general introduction into the Forex market looking at the opportunities available to people that are interested in getting involved and introducing Metastock as the trading platform.
2. Basic trading techniques – this section will introduce our first trading technique and provide people with the principles behind an extremely successful and consistent trading strategy.
3. Trading Indicators – We will introduce the indicators that are used as part of our trading strategy and provide some useful insight into how they work.
4. Psychology and Money Management – every trader will appreciate and understand the critical importance that psychology plays in trading and we will cover some of these principles here. In addition we will cover basic money management techniques that enable our members to control their risk exposure and trade within their affordability.
To enroll please follow this link: http://www.thomsonreuters.com/webinars
Hi, my name is Nigel and I’m a novice Forex trader, well in fact I haven’t even reached that stage yet! That’s my ugly mug to the left, doing a spot of diving in Oz. I have agreed to write this blog to share my experience of learning how to trade Forex.
Before we go any further, I need to lay my cards on the table….I work for FX Professional. As part of my role with FX professional I need to get up to speed with Forex trading, hence the reason for me taking our Forex trading course.
We thought it would be useful for me to write this blog of my experience on the course and ongoing trading efforts to give those of you on the outside and insight into what you can expect if you decide to become a member of FX professional.
Obviously, we could have pretended to have coerced an existing member to write the blog for us, but our industry already suffers from a few credibility issues. By being open and transparent we hope to distance ourselves from that element of the industry and for my part I promise to write this blog honestly and frankly. I want this to be a valuable resource for anyone who is interested in learning to trade Forex.
Anyway, I have my login details, I’m going to study the first few tutorials and reports back in a few days. Wish me luck!
Nigel
FX Professional is the exclusive Forex training partner to Thomson Reuters, the world leader in market data for financial professionals. The strategic partnership will enable FX Professional members to access the all new FXP Directional Trending Stratgey indicator tools within the Thomson Reuters trading platform MetaStock.
MetaStock Pro is specifically designed for real-time traders—traders who use intra-day data to transact in real-time throughout the trading day (Interested in end-of-day trading? Check out MetaStock). Whether you’re an experienced, active trader or just learning how to trade the markets, MetaStock helps you succeed. The software contains powerful analysis tools to help you make informed decisions about what to buy & sell and when to execute to make the most money possible. MetaStock comes with many out-of-the box trading solutions that are reliable and easy to use. And if you want to take your analysis to the next level, MetaStock gives you the ability to customize these solutions to your particular trading style.
For the launch of the FXP Directional Trending Strategy, we’ll be hosting a live webinar in conjunction with Thomson Reuters on January 13th. More details to follow….
If you have any questions please contact our support team on:
Phone: +44 (0) 870 2407135
Email: training@fxprofessional.net
FX Professional, 9 Bentinck Street, London, W1U 2EL
Skype: fxprofessional
