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Wednesday, 26 October 2016

10 Steps To Building A Winning Trading Plan

There is an old saying in business: "Fail to plan and you plan to fail." - Benjamin_Franklin. It may sound glib, but those who are serious about being successful, including traders, should follow these eight words as if they were written in stone. Ask any trader who makes money on a consistent basis and they will tell you, "You have two choices: you can either methodically follow a written plan, or fail."

If you have a written trading or investment plan, congratulations! You are in the minority. While it is still no absolute guarantee of success, you have eliminated one major roadblock. If your plan uses flawed techniques or lacks preparation, your success won't come immediately, but at least you are in a position to chart and modify your course. By documenting the process, you learn what works and how to avoid repeating costly mistakes.

 10 Steps To Building A Winning Trading Plan


Whether or not you have a plan now, here are some ideas to help with the process.

Disaster Avoidance 101
Trading is a business, so you have to treat it as such if you want to succeed. Reading some books, buying a charting program, opening a brokerage account and starting to trade are not a business plan - it is a recipe for disaster.

Once a trader knows where the market has the potential to pause or reverse, they must then determine which one it will be and act accordingly. A plan should be written in stone while you are trading, but subject to re-evaluation once the market has closed. It changes with market conditions and adjusts as the trader's skill level improves. Each trader should write their own plan, taking into account personal trading styles and goals. Using someone else's plan does not reflect your trading characteristics.

Building the Perfect Master Plan
What are the components of a good trading plan? Here are 10 essentials that every plan should include:

1. Skill Assessment
Are you ready to trade? Have you tested your system by paper trading it and do you have confidence that it works? Can you follow your signals without hesitation? Trading in the markets is a battle of give and take. The real pros are prepared and they take their profits from the rest of the crowd who, lacking a plan, give their money away through costly mistakes.

2. Mental Preparation
How do you feel? Did you get a good night's sleep? Do you feel up to the challenge ahead? If you are not emotionally and psychologically ready to do battle in the markets, it is better to take the day off - otherwise, you risk losing your shirt. This is guaranteed to happen if you are angry, preoccupied or otherwise distracted from the task at hand. Many traders have a market mantra they repeat before the day begins to get them ready. Create one that puts you in the trading zone.

3. Set Risk Level
How much of your portfolio should you risk on any one trade? It can range anywhere from around 1% to as much as 5% of your portfolio on a given trading day. That means if you lose that amount at any point in the day, you get out and stay out. This will depend on your trading style and risk tolerance. Better to keep powder dry to fight another day if things aren't going your way. (See also: What is your risk tolerance?)

4. Set Goals
Before you enter a trade, set realistic profit targets and risk/reward ratios. What is the minimum risk/reward you will accept? Many traders will not take a trade unless the potential profit is at least three times greater than the risk. For example, if your stop loss is a dollar loss per share, your goal should be a $3 profit. Set weekly, monthly and annual profit goals in dollars or as a percentage of your portfolio, and re-assess them regularly.

5. Do Your Homework
Before the market opens, what is going on around the world? Are overseas markets up or down? Are index futures such as the S&P 500 or Nasdaq 100 exchange-traded funds up or down in pre-market? Index futures are a good way of gauging market mood before the market opens. What economic or earnings data is due out and when? Post a list on the wall in front of you and decide whether you want to trade ahead of an important economic report. For most traders, it is better to wait until the report is released than take unnecessary risk. Pros trade based on probabilities. They don't gamble.

6. Trade Preparation
Whatever trading system and program you use, label major and minor support and resistance levels, set alerts for entry and exit signals and make sure all signals can be easily seen or detected with a clear visual or auditory signal. Your trading area should not offer distractions. Remember, this is a business, and distractions can be costly.

7. Set Exit Rules
Most traders make the mistake of concentrating 90% or more of their efforts in looking for buy signals, but pay very little attention to when and where to exit. Many traders cannot sell if they are down because they don't want to take a loss. Get over it or you will not make it as a trader. If your stop gets hit, it means you were wrong. Don't take it personally. Professional traders lose more trades than they win, but by managing money and limiting losses, they still end up making profits.

Before you enter a trade, you should know where your exits are. There are at least two for every trade. First, what is your stop loss if the trade goes against you? It must be written down. Mental stops don't count. Second, each trade should have a profit target. Once you get there, sell a portion of your position and you can move your stop loss on the rest of your position to break even if you wish. As discussed above, never risk more than a set percentage of your portfolio on any trade.

8. Set Entry Rules
This comes after the tips for exit rules for a reason: exits are far more important than entries. A typical entry rule could be worded like this: "If signal A fires and there is a minimum target at least three times as great as my stop loss and we are at support, then buy X contracts or shares here." Your system should be complicated enough to be effective, but simple enough to facilitate snap decisions. If you have 20 conditions that must be met and many are subjective, you will find it difficult if not impossible to actually make trades. Computers often make better traders than people, which may explain why nearly 50% of all trades that now occur on the New York Stock Exchange are computer-program generated. Computers don't have to think or feel good to make a trade. If conditions are met, they enter. When the trade goes the wrong way or hits a profit target, they exit. They don't get angry at the market or feel invincible after making a few good trades. Each decision is based on probabilities.

9. Keep Excellent Records
All good traders are also good record keepers. If they win a trade, they want to know exactly why and how. More importantly, they want to know the same when they lose, so they don't repeat unnecessary mistakes. Write down details such as targets, the entry and exit of each trade, the time, support and resistance levels, daily opening range, market open and close for the day and record comments about why you made the trade and lessons learned. Also, you should save your trading records so that you can go back and analyze the profit or loss for a particular system, draw-downs (which are amounts lost per trade using a trading system), average time per trade (which is necessary to calculate trade efficiency) and other important factors, and also compare them to a buy-and-hold strategy. Remember, this is a business and you are the accountant.

10. Perform a Post-Mortem
After each trading day, adding up the profit or loss is secondary to knowing the why and how. Write down your conclusions in your trading journal so that you can reference them again later.
The Bottom Line
Successful paper trading does not guarantee that you will have success when you begin trading real money and emotions come into play. But successful paper trading does give the trader confidence that the system they are going to use actually works. Deciding on a system is less important than gaining enough skill so that you are able to make trades without second guessing or doubting the decision.

There is no way to guarantee that a trade will make money. The trader's chances are based on their skill and system of winning and losing. There is no such thing as winning without losing. Professional traders know before they enter a trade that the odds are in their favor or they wouldn't be there. By letting their profits ride and cutting losses short, a trader may lose some battles, but they will win the war. Most traders and investors do the opposite, which is why they never make money.

Traders who win consistently treat trading as a business. While it's not a guarantee that you will make money, having a plan is crucial if you want to become consistently successful and survive in the trading game.

Thank You and Full Credit to Matt Blackman and investopedia

Monday, 24 October 2016

Learn to Trade Forex Successful Using the 4 Types of Forex Trading Indicators

If you are already an experienced forex trader, are you using the correct combinations of technical indicators to help you profit consistently in the forex market? If you are still not sure, we'll 


Learn to Trade Forex Successful Using the 4 Types of Forex Trading Indicators

If you are already an experienced forex trader, are you using the correct combinations of technical indicators to help you profit consistently in the forex market? If you are still not sure, we'll discuss the following 4 different types of forex technical indicators below:

1. Trend Indicators - Also known as Directional Indicators. I have always reminded my students, 'Trend is your best friend and always trade in the direction of a trend'. A forex trend may be quite subjective to different traders as they may have different views on trendiness. So those trend indicators out there in the forex market can help traders detect the starting and ending of a trend. Some of the more popular trend following indicators includes MACD (Moving Average Convergence Divergence), MA (Moving Average), Parabolic SAR. Depending just on trend indicators is not enough, you may need Momentum Indicator(s) to enter and/or exit a trade.

2. Momentum indicator - Also known as Strength Indicators. It is described as the speed of a move in price over a period of time. They are oscillators which are able to indicate whether the forex market is in the overbought or oversold regions. If they have risen to the overbought zone, there is high possibility that the price will be going down, and if they have fallen to oversold zone, there is high possibility price will be going up. Some of the more popular oscillating indicators in forex trading include Stochastic, Momentum, RSI (Relative Strength Index), CCI (Commodity Channel Index).

3. Volatility indicators - Also known as Bands Indicators. Often, a change in volatility will lead to a change in price. Therefore, we can see how active the forex market is just by looking at the price ranges. You may want to trade when there is a dramatic change in price movements, which suggests that the market is actively trading forex. Some of the more popular Volatility Indicator includes BB (Bollinger Bands), ATR (Average True Range), Envelopes.

4. Volume indicator - They are used to show the volume of forex trading and are useful to confirm the direction of a trend, a reversal or a breakout. Price movements increase when the volume increases, low volume may warn of a reversal in a forex trade. If a currency pair trades from a narrow range and then breaks out on high volume, this is a strong signal and may suggest a breakout. Some of the more widely used Volume Indicator includes Demand Index, Chaikin Money Flow, Money Flow Index, Ease Of Movement, OBV (On Balance Volume).

I'm sure that after the above discussions, you should have a better idea of the different types of forex technical indicators. While they can greatly help you in technical analysis and make trading decisions, I want to stress that NO forex indicators is holy grail. The indicators are just a confirmation of history and a guide for the future. Most importantly, you need to know the right combination of the forex technical indicators to get you profitable consistently in the long haul. You can find a forex trading system which has a very good combination of indicators in my forex ebook which I give for FREE. Good trading to all.

Wednesday, 19 October 2016

How To Create Redirect Pages For Your Affiliate Links

How to Create Redirect Pages for your Affiliate Links, How To Promote Your Affiliate Links, Make Money Posting Targeted Contents, Affiliate


How To Create Redirect Pages For Your Affiliate Links


As an ... I use ... links at various places ... my web site, in emails and in other online ... These ... links are usually long and have a number or word to define who


As an affiliate I use affiliate links at various places throughout my web site, in emails and in other online 
promotions. These affiliate links are usually long and have a number or word to define who the affiliate is. 

As well as using these ‘direct’ affiliate links I have also used redirect pages (or what I might call ‘indirect’ affiliate links) on my web site as well. These are blank web 
pages whose sole purpose is to redirect the visitor to the affiliate page.


Make Money Posting Targeted Contents

I recently did a comparison between direct affiliate links and redirect pages and the results were astounding! 


The redirect pages outperformed direct affiliate links about 2 to 1 when placed in the same position on my web site. This meant twice as many people were clicking the indirect affiliate 
link as were clicking the direct affiliate link. Why?

I have no idea about the logic behind this but it appears that visitors are less inclined to click a link when they know it is an affiliate link. They would rather have the thought in their 
mind “I want to buy direct”. 

I must admit I do not think like this because I have bought many times through affiliate links but I guess I’m an affiliate so perhaps I think differently to people who are not affiliates.

So if redirect pages work so well, how do you create one? 

It’s really simpler than you might think. 

First, create a new web page on your site. Just leave it as a blank page. 


How To Promote Your Affiliate Links


Then just put the following piece of code between the header tags:

url=http://www.myaffiliatelink.com”>

You will need to replace the URL “myaffiliatelink.com” with 
your own affiliate program link. 

If you are in 5 different affiliate programs you will need to set up 5 separate pages for each affiliate link. 

Now you can use each redirect page link in your promotions instead of the affiliate link. 

When someone clicks on your redirect page link the following 2 things happen:

1. They get taken to your redirect page which is a blank page. This lasts a few seconds. 

2. The command in your header tag then forwards the visitor directly to the affiliate site. 

The best thing about redirect pages is they do not look like affiliate links. They just look like normal pages. For those people that DO have a problem buying through affiliate links
they are unaware that the redirect page is actually an affiliate link. 

Try using redirect pages for your affiliate links. I think you’ll be pleasantly surprised by the results.

How to Create Redirect Pages for your Affiliate Links, How To Promote Your Affiliate Links, Make Money Posting Targeted Contents, Affiliate

Tuesday, 11 October 2016

Do People Make Money On Twitter

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Do People Make Money On Twitter


Turn Your Twitter Account Into Make Money


Do people make money on twitter. Thinking of how to make money using Twitter? This blog will be helpful in understanding what Twitter is and how you can effectively use it to generate targeted traffic for your online business. More traffic will bring in more customers and eventually increase your profit.

First of all, Twitter is one of the fastest growing websites today. Different types of people simply love this website because it serves as a great way for them to communicate with other people from different parts of the world.

$2,331/DAY WITH YOUTUBE + AMAZON AS AN AFFILIATE! LET ME SHOW HOW?

Twitter is basically a free social networking website where it allows members to send and also read messages that are called tweets.

The tweets are available for a person’s follow to view. They can be friends or family members or just about anyone you know.

The great thing about it is that you can also restrict the messages to certain groups or friends to see. And because of the fact that twitter is free and easy to use, a lot of people use them.

HOW TO MAKE MONEY USING TWITTER

People today are now taking advantage of Twitter by advertising their products or to promote their businesses.

You can even use Twitter to advertise your webpage or website in order for you to get targeted traffic flowing into your website and start making some money.

Tell them about your promotions, if you have a sale, or just subtle hints of why they should check out your site. As you can see, Twitter is a very useful tool for internet marketers.

Once you collected enough followers, you will be able to start getting your followers to visit your website and click on links to your affiliate website and start earning some cash.

EARN $90/DAY MANAGING YOUR ALL SOCIAL MEDIA ACCOUNTS IN ONE PLACE

So, if you are an internet marketer who is trying to figure out how to get targeted traffic in your website, you may want to consider using Twitter.

Through this networking website, you will be able to get followers and eventually generate targeted traffic in to your website, which is highly essential in becoming a successful internet marketer.

Do People Make Money On Twitter

Monday, 10 October 2016

Chart Simple Moving Average To Your Currency Trading Program

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Chart Simple Moving Average To Your Currency Trading Program


Why My Chart Simple Moving Average To Your Currency Trading Program Is Better Than Yours


Chart simple moving average to your currency trading program. Technical chart trading is very popular among experienced trading where they use it to determine the support and resistance and the trend of the stock or currency. When combine with a number indicator and different time period, will yield very positive results in trading.

Simple Moving Average
This is one of the most frequently used indicator for charting any time frame. Simple moving average or SMA is actually adding up the total no. of currency price and divide by the total no. currency time frame. For example 10 SMA meaning 10 time frame of the selected chart, add all the 10 currency price together, then divide by 10 to get the average, thus we call it simple moving average. All the weight age of the last 10 time frame are equal. 

9, 18, 50 and 200
Continuous SMA will show the  trend for the currency for the last few designated time frame. Commonly used time frame are 9 and 18 together with 50 and 200. Both are used in pairs to show the short term movement and long term movement. Crossing of 9 and 18 SMA are commonly refer to start of a up trend or down trend, while crossing of 50 and 200 SMA will refer to end of a down trend or up trend.

SMA on high and low
This indicator can also applied to daily or hourly high and low prices. Especially useful when setting the profit target and stop loss when trading channel and trending market. With high SMA and Low SMA, you can easily see a channel of upper limits and lower limits. Similar to Bollilinger Bands but are average base on last few high or low price instead.


Use together with Relative Strength Index (RSI)
When using this indicator with RSI, it can indicate the point of reversal for a trend. RSI peaks at 20 and 80 value, will show sign of weakening of the trend with SMA changing direction. By applying trade executing when the indicator show changing trend, trader can earn huge profits if enter the market early when the trend begin to change.

SMA with Open and Close
Some trader uses the open and close price as a time indicator of the trend for that day or hour. Will simple moving average as a median point line, currency that opens with gap in their open and close (previous time frame), below or above the median point will indicate a possible increase/decrease of the price due to news or fundamental influence. This is a great catch for automated trading.

Moving Average Convergence-Divergence (MACD) =  SMA (Y) – SMA (X)
This indicator take 2 simple moving average with different timeframe, by subtracting the short and the long timeframe indicator, it show an momentum on the currency trend. Sign of entering trades are when the 2 different indicator cross over each other or cross over the zero line. This will indicate the beginning of trend and the ongoing of the trend respectively. If use wisely, traders can enter a lot of profitable trades during strong fundamental backing of the currency. 

Note: MACD uses exponential moving average and in this articles is simply for easiler understanding. Trader are to check the correct algorithm of the indicator prior to using it for his trading purpose.

Chart Simple Moving Average To Your Currency Trading Program


Monday, 3 October 2016

Forex Trading Strategy Is The Key To Success

When you enter the Forex trading business, you need to be prepared that it will not be cakewalk. It calls for a lot of planning and decision making. Without the proper Forex trading strategy, you will find it difficult to make much headway.

Before stepping into the Forex trading market, you need to have a certain strategies in mind. A well thought out Forex trading strategy can be your key to success. It can also keep you on the safer side and help to minimize your losses.

 Forex Trading Strategy Is The Key To Success

Implement a Proper Trading Plan and Don’t Trade Beyond Your Means
It is very important to have a trading plan and when dealing in Forex trading. Once you have a plan, let nothing deter you from it. Remember, there is no place for emotions in trading. Following your emotions blindly is a sure shot recipe to disaster. Whenever you trade, it should be in a cool and calm frame of mind.
A very good Forex trading strategy is that you should only speculate with money that you can afford to lose. Not to say, that you want to lose anything, but whenever you invest money or trade in it, you should always use money that you can do without, money that is in excess of your requirements. It is never a good idea to touch upon the money that you require to run your house and fulfill the basic requirements of your house.

Understand the Trends of the Market
In Forex trading, market trends are your closest friends. If you are able to understand trends and make somewhat accurate predictions, you will be quite successful as a trader. Understand that there may be short term fluctuations in the currency values. After all, the market is volatile. However, you should always refer to the long term trends and not be worried about periodic ups and downs.
Another important Forex trading strategy is riding the Forex market till it shows signs of turning around. Do not be greedy and ride the win too long, else you might just be caught off guard and lose money.

Trade Wisely
A lot of newcomers tend to look for some signs or leading indicators that will help them make a good trading decision. The truth is, in the Forex market, there is no guarantee that you’ll be able to predict the future accurately. Some software can help you make calculated speculations, but they could easily swing one way as the other.
A sound Forex trading strategy is that you should stick to popular currency for trading and stay away from thin market. Since there is very little public participation in the thin market, you will not be able to liquidate your position easily. Moreover, trading in too many markets is not advisable. Stick to the popular currency pairs till you learn to do better.

Update your Knowledge
Lear, learn and learn some more – and that’s a Forex trading strategy that will never fail you. Work towards gaining in depth knowledge in this field, so that you can become an astute trader. Read up as much as you can on the subject and add to your existing information. While a newcomer can get by with some general guidelines and tips, a seasoned Forex trader will need more knowledge to make decisions.