5 Tips on UK Forex Trading Success!

Or Should I Say: 5 Tips on what you MUST NOT DO if you want Success Trading the UK Forex market.

Lets begin with the 5 MOST common errors!

1. Do Not Trade With Cash You Cannot Spare: Being reckless with money you can't afford to lose is plain dumb. When panic sets in, recklessness takes over and inevitably, losing money you don't have will cause more panic.

2. Do Not Follow The Mantra Of Buying Low To Sell Higher To Get Pips: This purports that you have to predict where the lows and highs will form. Realistic in the equity market for sure but in the UK Forex Market: Again, plain dumb.

3. Never Rely On Guess Work: Because the UK Forex Markets simply unpredictable, your guess work will swallow all your assets up and inevitably end your fledgling Forex career.

4. Avoid the Day Trading Market At Your Peril: With complex, unpredictable influences you might as well stick your head in the sand. Stay well clear.

5. Never Go It Alone: ALWAYS Have Help From THE HIGHER ONE: In order for every novice trader to gain experience you need to start of trading with PLAY MONEY. That's right, you need software which lets you play the Forex game for Free.

Get a practice account, set up your Stop losses and Take Profit margins, and get your feet wet. You can also get Forex Autopilot software which once you've tried, tested and retested on your Demo Account, the automated robot will set your SL TP margins and will then lock in the profit and revert to a trailing stop for maximum gains.

You can put this system to the test on a Demo account. You can do that here at http://www.forextracertrading.com which allows you to trade with play money, so you won't be risking a penny. After you've tried, tested and retested, you can then open your real account and collect $100 and start trading on Autopilot immediately. STAY FOCUSSED and YOU WILL SUCCEED.

Reuters - General Motors Corp and Chrysler LLC on Monday began offering a new round of retirement incentives including vouchers for cars as the automakers move to reduce workers and inventory.

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Forex Trading Information And Tips

I'm going to share with you some of my forex trading information and tips. This is a great market to expand on a second income. With the economy in a downturn, lack of jobs and the expensive price tag on gas, it makes sense to work from home trading forex.

What is margin trading and how does it benefit me?

This is an interest concept of forex trading. One which makes it exciting for small traders that don't have a lot of money. A typical broker account will allow you to deposit your money and you trade that money. This is different. You put a deposit on your account and your broker allows you to trade anywhere from 10 up to 100 times more than your original deposit. It's not free money though.

If you deposit $100, you could trade up to $10,000. Now you have the capability of really making some money because you have more money to leverage. This also makes the broker more money because you're making more money. That's the positive side of this. The negative side is losses. The broker won't let you lose their money. If your losses get anywhere close to the original deposit, they'll cut you off. The best way to avoid this is to not trade all the money. Instead of using all $10,000 use $1-2k. That's a lot more money than you deposited, but it also protects you from losing your original $100 very fast.

What is the best trading software on the market?

I recommend Forex Killer. It has all the makings of an employee rolled into a software package. We've all experienced being in a trade and having to leave the computer for a significant amount of time. During this time anything could happen: you could miss out on an opportunity to make a good profit or lose out on a lot of money. Forex Killer will automate the trading process, so it will act in the most profitable way while you're gone. It may not have to even do a trade, but it will be watching to make sure the most profitable act is done.

The automated software of Forex Killer will give you an immediate edge in the market. Make trades that work for your profit line. For more information on the Forex Killer software, check out Forex Charting Software.

Reuters - The Federal Reserve on Wednesday inched closer to buying U.S. government bonds in a new front in its fight against the credit crisis and signaled unease over the risk of deflation with the economy weakening.

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Marcus Leary's Forex Auto Pilot - Scam Or Does It Work

Forex Auto Pilot created by Marcus Leary is one of the most renowned and popular forex trading softwares on the market today. It has been used by thousands of people who wished to become better forex traders. But is the forex auto pilot a scam or does it really work?

As with any other software or product on the market, this software doesn't have a 100% success rate. But forex autopilot isn't a scam. It has worked for many people who have taken their trading skills and income to another level. And it will likely work for you as well, if you treat it the way it's supposed to be treated: a software which can help you make better decisions, not some magical artifact which will instantaneously give you a million dollars.

What I mean by that is that there 2 mistakes you can make with Forex Autopilot which may hinder your income with it:

1. Use it without knowing how - Forex autopilot is a tool you can use, but you need to know how. The software comes with detailed instructions. Make sure to study them. Even if this means you'll start using it a week later than you wish, it's worth the time.
2. Don't fail to get a regular forex education. This software can work for you even if you have little or no prior experience, but if you do become more informed about the market and how it works, you will have a much better chance of making more money with ForexAutopilot.

Marcus Leary didn't create a scam software and it's easy to see this since his software comes with a money back guarantee. So make the most of this software and make sure to give some of the money you'll earn with it back to the community. That way you'll make something good with the money for a lot more people and still have enough to enjoy yourself.

To read more about this software, click here: Forex Autopilot Review. John Drummond works from home. He writes often on business, trading, and finances. There is more than one forex trading software. To read John Drummond's review of the 2 best ones, click here: Automatic Forex Trading Software.

Reuters - Freddie Mac , the second-largest provider of funding for U.S. home loans, on Friday said expected fourth-quarter losses may force it to draw up to $35 billion from the U.S. Treasury to maintain a positive net worth.

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Day Trading Strategies

Day Trading Styles
There are a number of day trading styles that make money in the market. This article provides an overview of multiple day trading strategies that professionals use to make money on a consistent basis. This article will contain the pros and cons of the following day trading styles: (1) breakouts, (2) scalp trading, (3) counters, and (4) trend following.

Day Trading Breakouts Overview
Breakouts is the most common form of day trading styles. It involves identifying the pivot points for a stock and then buying or selling short those pivots in hopes of reaping quick rewards as the stock exceeds a new price level. Breakouts is generally the starting place for newbie traders as it provides a clear entry level and it is a trend following system.

Pros of Breakout Trading
Breakout trading has the potential for quick gains. When key price levels are exceeded it will trigger stop order which gives that initial burst. The key component of a valid breakout is that volume and price accompany the move. This will increase the odds of the trade continuing in the desired direction. Breakouts are also easy to identify. Most trading platforms provide methods for tracking volatile stocks and how close they are to their daily highs or lows.

Cons of Breakout Trading
Breakout trading is by far the most challenging form of day trading. For starters, the levels where trades are placed are the most obvious to everyone regardless of their trading style. Think about it, no matter what system you use on a daily basis, every day trading system factors in the highs and lows of the day. Secondly, the vast majority of intraday breakouts fail. This doesn't mean they don't head higher a day or two later, but if your day trading and there is no instant follow through, odds are you are in a losing trade. Day trading breakouts requires the most discipline as you have very little time to make the call as to whether you are wrong or right. The inability to pull the trigger fast and consistently will mount in to huge losses.

Scalp Trading Overview
Scalp trading is a day trading style where a trader looks to make small gains throughout the trading day. This day trading style suits people who love "action" in the market.

Pros of Scalp Trading
The obvious benefit of scalp trading is the fact you are looking for very little from the market. Another plus is that stop losses are very tight. This will allow the day trader to avoid the monthly "blunder" trade that we all have put on one time or another.

Cons of Scalp Trading
Scalp trading like any other form of trading requires discipline, but due to the large number of trades one will put on during the day, it requires an enormous amount of focus. This "all day focus" can make the trading day a tense situation and can lead to high anxiety for the trader. Also, people go into the business of trading for unlimited earning potential and the idea that you do not have to slave away at a desk all day. Well if you plan on scalp trading, kep a bottle next to your desk, because bathroom breaks are considered a luxury.

Counter Trading Overview
Counter trading is when a trader looks for a pivot point, waits for that pivot point to be tested and trades in the opposite direction. This type of trader has a personality where he or she enjoys going against the grain.

Pros of Counter Trading
Counter trading has a high success rate for day trading. Ask any seasoned trader and they will tell you that intraday trading is nothing more than constant head fakes and lies. So, the counter trader is already up in the odds department, because they are going against what the market is telling them. Another plus for counter trading is that when the market fails it often fails hard. Day traders who are able to play morning reversals can make a great living only trading the first hour of the day.

Cons of Counter Trading
While counter trading has a high win percentage, the losers can bring destruction to an account. Even if you win on 4 counter trades, if you do not cut the loser fast, a breakout could run away from you in a hurry. Another downside to trading counter is the next pivot level is too far from your entry, so you will have to set some arbitrary stop limit. Since your stop is not based on an actual price point on the stock, it could get hit quite often. Lastly, setting your price target is also a challenge. Stocks will often appear to make a double top, only to change course just as fast and reclaim the recent highs.

Trend Following Overview
When most people think of trend following, the first thing that comes to mind is a long-term hold buy and hold strategy like the Turtle System. Believe it or not, there are day traders who utilize trend trading systems. The basic method is to look for stocks that are up big in the news and then buy the pullback on these stocks after the first reaction in the morning. Lastly, the trader will place a longer moving average (i.e. 20) and sell the stock if it breaks the line.

Pros of Trend Trading
Trend trading allows the trader to ride a stock for big gains. The day trader will have a limited number of stocks to trade per day, so the commissions are low for this kind of day trading style.

Cons of Trend Trading
If every trader was able to determine which stocks are going to trend all day, there would be a new millionaire created every 30 minutes. No one knows at 10 am, which stocks are going to trend all day long. This means that at best, a trend following day trader can hope to be right 20% of the time. While this trader could still make a killing with such a low win rate there are very few traders that can stick to their trading plan with such a low win rate.

Summary
Every trader is responsible for his or her success. Day trading can be a great money maker, but without a sound trading plan it can push you to your mental limits. The first step in becoming a successful day trader, you have to determine which style of trading best suits your personality.

Al Hill is the co-founder of mysmp.com (My Stock Market Power) which provides education on all topics finance; including stocks, bonds, options, futures, forex, technical analysis, and more! Please visit http://www.mysmp.com for more free financial educational content.

BusinessWeek Online - Mortgage giant Freddie Mac said on Jan. 15 that rates on 30-year fixed-rate mortgages fell below 5% this week -- the lowest level since it began surveying lenders in 1971.

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Volume Rate of Change

Volume Rate of Change Definition

The volume rate of change (ROC) is a technical indicator used to gauge the volatility in a security's volume. The volume rate of change is a powerful indicator when estimating a security's ability to push through key resistance. The volume ROC is calculated the exact same way as the rate of change indicator except instead of tracking the closing price it tracks volume.

Volume Rate of Change Formula

The volume ROC is calculated by dividing the volume over the last "x" periods by the volume over the last "x" periods ago. If the volume from today is lower than "x" periods ago, then the volume ROC is trending lower. Below is the formula for the volume ROC:

Volume ROC = ((Volume - Volume n-periods ago )/ Volume n-periods ago) *100

Interpreting the Volume ROC

The volume rate of change indicator is subjective like many other technical indicators. The first question you have to ask yourself is how many periods should feed the input for the indicator. The shorter the periods, the greater price fluctuations will occur for the volume ROC indicator. Assuming you have selected the correct input value for the timeframe you are trading on, you want to see the volume ROC pick up significantly as it breaks through resistance. This is a sign that you are correct in your long position and the trend should remain intact for the near term. Traders can also use the Volume ROC to identify when there is a false breakout and use this as an opportunity to take a counter position.

Al Hill is the co-founder of mysmp.com (My Stock Market Power) which provides education on all topics finance; including stocks, bonds, options, futures, forex, technical analysis, and more! Please visit http://www.mysmp.com for more free financial educational content.

Reuters - Daimler (DAIGn.DE) Chief Executive Dieter Zetsche on Saturday said he would not jeopardize the automaker's long-term success by cutting spending on product planning and research and vowed to roll out at least one new hybrid vehicle per year.

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