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4 Forex Myths You Need to Avoid at All Cost

4 Forex Myths You Need to Avoid at All Cost

There are many Forex myths all over the internet, and these myths could cause loss and fail for you as a trader, or make you lose money faster. Know these myths and avoid them and you will have done yourself a real deal.

1. I can trade Forex by following others

Don’t follow the emails that come to you saying how could they make you rich in no time and how you could grow your money with them. In Forex, the only one who make you money fast and real is you. You only need to depend and trust yourself so that you can be successful. These people who send you emails and such ads are only getting money from behind your back without you getting any benefits. Learn to Forex trade by yourself and forget others. Find a system that you are comfortable with and consistently follow it. This will be your way to success.

2. Day Trading is your way to make more money

A reasonable thing is that the more you trade, the more profits and money you get. Nice to think, but it is extremely hard to be true https://www.dominos88.com/. The number of people who could really do that is very few and rare and you couldn’t be one of them. And even those could lose their profits once the market fails them.

3. Working Hard = Always Winning

This theory goes in real life but not in Forex Trading, unfortunately. You need to take it easy here and have patience, because Forex Trading has its trends, which come and go as they wish. You don’t need to work hard in order to be successful. In fact, many traders become millionaires by following a right trade system and relaxing, without having to put a lot of efforts. It’s about working right, not hard.

4. A Complicated Forex System Means More Profits

No, that is not true. You don’t have to go complicated in order to be successful and have more profits. If you can get the chance to look at a successful trading system, you will see how simple it is. Simplifying things could make you more successful, not the opposite. A simple system works the best because it can be used anytime and under any situation, and it will allow you to follow the trading system easily and fluently without having to cross many problems in the way.

Avoid these bad myths and then you shall see your profits growing. Be smart in order to be successful!

Forex Rebellion - What it is and What it is Not!

Forex Rebellion – What it is and What it is Not!

With the proliferation of automatic traders in the market; and its widespread success, who would have predicted that a manual Forex trading system would be this well received by the industry! Much has been said and written about this new product. Is there truth to all those claims? Let us find out together what the Forex Rebellion is and what it is not.

The Forex Rebellion consists of unique indicators and money management system. It has been approved and verified by the Surefire Trading Challenge and was also tested numerous times in order to come up with a success rate average of 80%. Profits were reported to be raking 35% to 130% in just four weeks of trading with the system. This system works to help you slowly increase your profit margin.

The set of unique custom indicators mentioned earlier helps by identifying possible trades and sort out the bad trades. The system is simple and works for all traders, from beginners to experts. You can make as many trades as you can because the system works on multiple time frames and currencies.

What it is not is this – it is not a trading robot! There is absolutely nothing to install. It has no capacity to trade automatically either. All decisions have to be made by you. But you need not fret. What you have to do is to set up the indicators and follow the rules.

The system was created by a trader named Russ Horn. Russ was sold out on the idea to find a way to make the forex trading market work for his advantage. This is how Forex Rebellion came about. He manipulated the system to work for him.

More and more traders are taking notice of the impressive income generated by this simple system. The developer of Forex Rebellion will show you everything that you must know about the currency market and how you can capitalize on probable wins.

With this system, you will be able to trade on your own time schedule and at your own pace. So far, all reviews of this product are positive and many people have started investing on Forex Rebellion.

Are you still skeptical after reading this write-up? Do not worry. You need not risk any money if you decide to get one for yourself. This product comes with 60-days trial period. If you are not satisfied, you can return Forex Rebellion and get your money back. Great deal, right?

Different Day Trading Books

Different Day Trading Books

There are many different kinds of day trading books available to buy online and from bookshops.

If you want to improve your day trading skills and improve your knowledge in areas of the industry, then it is highly recommended that you pick a few up.

Please note, that no matter how great a book is, it will never be a magic pill for day trading success.

Sure, there are many books that include great information and tips, but no book can hand you the keys to day trading riches on a silver platter. You have to put the information that you learn into daily consistent action, and commit yourself to lifelong learning.

Also, books are not the only place to get information from. For example, there are many beginner and intermediate day traders who seek help from a mentor, so they can get first hand advice from somebody with years of knowledge and experience.

With that being said, here are a few day trading books to get you started on your journey:

Trade Your Way to Financial Freedom

This is one of the most popular day trading books currently on the market. In it, there are many different day trading methods covered, as well as some in-depth information on topics such as risk management and position sizing.

Trading to Win: The Psychology of Mastering the Markets

Written by Ari Kiev, this book gives you an over the shoulder look of what makes a day trader successful and the habits and mindset you must develop to get there. Ari is somebody that has many years of experience in the day trading world, so you can be sure that the advice in this day trading book is solid.

The Encyclopedia of Trading Strategies

A must have for any aspiring day trader. This book is a great point of reference for all of the different day trading strategies currently employed by millions of traders around the world. It’s a good starting point for beginner day traders who want to get an overview of the day trading world as a whole.

Financial Publications

Day trading books are not the only things that make essential reading, as there are also dozens of different financial publications that are published on a daily, weekly and monthly basis.

These publications are an excellent way to get insider tips and general ideas that can form the basis of your own day trading strategies.

Here are a few of the more popular financial publications:

The Wall Street Journal

One of the biggest business newspapers in the world, the Wall Street Journal is published by Dow Jones and Company, and is read daily by more than 2 million people.

They also print an edition of the newspaper in Spanish, which is called The Wall Street Journal Americas, and can be found as a supplement in many of the top Latin American newspapers.

Forbes Magazine

Released every two weeks, Forbes magazine is for anybody and everybody who is involved in business. Each issue contains all of the latest news and stories on companies, markets, trends and investments, and can excellent source for day traders to stay in tune with what is happening in the world of business.

Investors Business Daily

Founded in 1984, Investors Business Daily is an essential read for day traders who want up to the minutes news and views on financial topics.

One of the main benefits of reading this newspaper is it’s in-depth section on information related to the stock market.

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Different Day Trading Software

Different Day Trading Software

What is the point of day trading software? Well, the main reason is that it gives SPEED in your day trading activities. Instead of spending hours analyzing market data and research, you can get all the information that you are looking for in a few seconds or minutes with the click of a button.

Here are some of the features you can expect to find in day trading software:

Day Trading Platform

You can get all the tools you need to aid you in your day trading career, by using the platform included in many software programs. Tools such as charting trends, watch lists, test trades, and many more.

Market Information

Many of the software programs have all of the latest news, views and data from the marketplace, which is easy to retrieve through a connection to various news feeds and commentary,

Go Mobile

As we step into the mobile age, day trading software is staying right on the cutting edge of technology. Many of the top programs now feature mobile phone apps and SMS alert services that can connect you to the software and keep you right up-to-date with the latest day trading information.

How Much Does Day Trading Software Cost?

The cost varies depending on the software you choose. Some programs charge a monthly subscription to use the software, while others charge a one off fee that gives you lifetime access along with regular updates.

Bear in mind that you may also have to pay additional costs to use a data service provider, that connects to the day trading software and supplies the required information to things such as day trading charts.

Here are Some of the Top Day Trading Software Programs Currently on the Market presented by Bet188:

eSignal

Used by many day traders, eSignal is a market leader and has been around for many years.

The software comes complete with various tools and features, such as charts, scanning and analyzing. There is also a data feed included in the package, so you can quickly and easily get real time market information to help you with making decisions.

MultiCharts

Available as a one-time payment, MultiCharts is a well known day trading software program that offers a variety of charts, automatic trading options, and customized scenario technology.

The program also works with multiple data feeds, meaning all the information you need is only a click away.

NinjaTrading

With a range of market data feeds to choose from, and a host of different tools available, NinjaTrading is always a popular choice.

One of the main downsides to NinjaTrading is that they don’t currently offer any telephone or live chat support, which means it can take some time to get your questions answered.

Also, they don’t yet offer any mobile services such as SMS or Apps, which are widely available with other software programs.

The Basic Day Trading Tools

The Basic Day Trading Tools

Almost all day trading is done electronically these days, which means that it is possible for you to operate your business from anywhere in the world with only a few basic day trading tools.

Computer

Day traders use a wide variety of computers to make their trades and get valuable information.

For example, some traders use a normal computer, one which you would find at any computer shop, while other traders have custom built computers that are designed to respond quicker, store more data, and having the ability to run many programs at once.

In reality, if you are just beginning your day trading journey, then a normal computer will be able to handle everything for you. Basically, you only need it to perform your trades and run certain day trading software programs.

Internet Access

Another important day trading tool is high speed internet access. Most people already have access to this, but if you don’t, then you should contact your internet provider as soon as possible to get it upgraded.

Trying to successfully day trade with a dial-up connection or extremely slow internet access would be a nightmare, and make your day trading business a living hell.

Charting Software

Day traders have a constant need to stay up-to-date with current information and trends. One of the day trading tools that they use to do this is charting software, which usually includes data such as current prices and volume in an easy to understand graphical view.

Once you start day trading on a regular basis then it will become an essential requirement to get charting software of your own. When you sign up with a day trading broker, you normally get access to this kind of software, but sometimes it is not very comprehensive.

Many traders actually invest in many different charting software programs, as they like to get data from multiple sources. Some of the more popular charting software programs available on the market are Esignal, TradeMaven and Sierra Chart.

Before purchasing any day trading charting software, it is highly advisable that you give some programs a trial run. Many of the popular programs offer demo versions, so you can test out the features and decide which one is the best for your current needs.

More About the Different Kinds of Day Trading Charts:

Bar Charts

Day trading bar charts are extremely easy to understand, and have been popular among day traders for many years. The basic information included in a bar chart is the open, high, low, and close prices that have been traded in any set period.

Candlestick Charts

Just like bar charts, candlestick charts have been a popular choice for years, and the data that they give is much the same. Again, you will find the open, high, low and close prices during a set period.

Line Charts

Not as widely used as bar and candlestick charts, line charts are still very useful for interpreting data in day trading. They usually only have one piece of information, which is the close, but when used with certain charting software they can also include the same information as bar and candlestick charts.

What is Day Trading

What is Day Trading?

Introduction to Day Trading

If you are thinking about the possibility of trying day trading for a living, then you’d better fasten your seatbelt for one hell of ride.

Once you enter the world of day trading, you will soon see just how enjoyable, exciting and profitable it all can be.

On the flip side, there are also the losses and frustrations that come on a regular basis. These highs and lows are not for everybody, but if you are truly in it for the long term, then it can be the most rewarding business on the planet.

One of the main benefits of being a day trader in modern times is that there are very little requirements to get up and running. If you have a fairly decent computer in your house, that comes with fast internet access, and you have somewhere to actually trade…then you you are in business!

Don’t be fooled into thinking day trading is easy though. At the very core day trading is certainly a simple game, but it is far from easy.

In fact, of all the thousands of people who try their hand at day trading every year, only a small percentage really make it entabola.com. The vast majority of people struggle to make any significant long term profits at all, and many bankrupt their day trading accounts.

So what is the key ingredient that separates the winners from the losers?

The main answer to that question is knowledge.

You see, the more that you know about day trading, the more likely you are to be successful at it.

Once you really start to understand how to correctly read the markets and quickly identify trends that can make you money, then you are well on your way to being in control of your financial destiny by being an elite day trader.

Sure, there are other important factors involved in day trading as well, but superior knowledge comes out on top every single time.

What is Day Trading?

If you are still unsure of what day trading actually is, then allow us to clarify that for you.

Basically, day trading is the act of buying and selling things such as stocks, currencies and futures. The main goal of every trade that you get involved in is of course to make a profit, and this can be achieved for example, by selling a stock a higher price than which you bought it.

The main difference between day trading and other forms of trading and investing, is that in the world of day trading the vast majority of trades are completed within the course of a single day.

Sometimes, traders buy and sell within a matter of minutes, and things can definitely get crazy as people look to quickly make a profit.

Many years ago, the traders involved in day trading were mainly people that worked for banks. This however has changed drastically in recent years, as everybody now has access to market data, and trades can be made at a low cost.