Successful traders like to accept challenge of market offers and consider the job, as meaningful. But many beginning traders look at trade from the sight of success. They concentrate on competition to others, on desire to overtake them on profit to have possibility to brag. Such approach can satisfy the trader at the beginning, but after some time it already will not be enough. However, it is more useful to concentrate on more interesting and personally meaning purposes. It is better to concern trading, as to intellectual task. Market actions are interesting in themselves. It is useful, solving problems, to invent new strategy of trade, and to observe, how work your ideas. It is fascinating and pleasant process irrespective of either you win or lose. Such sight at trading can operate, as powerful stimulus. At such approach more possibly the sensation of satisfaction, is easier to supervise strong stressful situations, which the market creates very often. When you are not concentrated on profit, it is easier to remain quiet and concentrated. It will be easier to you to accept the restrictions. And, eventually, you will find out that your results have improved.

In subconsciousness hides the set of psychological conflicts. They hide there unconsciously for you, but when you are in vulnerable condition, for example, when you are frightened or disappointed, these thoughts can emerge on surface. It is not necessary to ignore these psychological problems. Better to recognize them fairly. As soon as you will make it, you can tell to yourself: “It is, probably, true, but it is insignificant now”. It is better to spend some time for this after work. Subconsciousness conflicts can have powerful influence on your ability to concentrate on the transaction. Be convinced that conflicts exist, waste time on their consideration and try to solve them. If you can make it effectively, you can reach consciousnesses of the winning trader.

The sight at trading creates your relation to it, so it defines end results. Those, who find satisfaction in trade, will better cope with any job and will reach high indicators. So, develop in yourself healthy attitude to success. Don’t concentrate on money and the status, which can bring successful trade. Enjoy process of trade.

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 market, but sometimes even one Forex books can be of big service to you.

Very important factor is execution of warrants by the forex broker company. Round the guaranteed execution of the postponed warrants there are big disputes. Someone asserts that the brokers guaranteeing execution of warrants incur bigger risk, than brokers run such work with difficulties. Without pressing in disputes, I wish to notice that the guaranteed execution of the postponed warrants at work with reliable dealing centre – the big blessing for the client. I will result a concrete example. Present that before an exit of the data on unemployment in the USA you tear off two identical positions on purchase on steam of euro/dollar at the price of 1,21 in two dealing centers. One broker has a guaranteed execution of the postponed warrants, and at another – is not present. Being afraid of an exit of positive indicators and, as consequence, dollar exchange rate growth, you put the stop order to both positions at level, let us assume, 1,2.

After an exit of the data it appears that unemployment in the USA was reduced much more, than analysts expected, and the course instantly falls to level 1.19, that is, being expressed in trading language, «does two figures». In one dealing centre the stop order works, and you fix hundred points of the loss, and in other you still have unprofitable position on 200 points. And, it can increase still if the course goes lower. Certainly, similar situations happen seldom, but, nevertheless, happen, and it can lead to loss considerable (if not all) means. That is why the question with the guaranteed execution of the postponed warrants is much more important than a question of the size of a spread.

The trading terminal and convenience of work:

The standard of work of the trading terminal for brokers in the market Forex are:

* presence of a free demo-account (i.e. possibilities to be trained on virtual money, testing the trading strategy).

* graphic support, possibilities of the technical analysis, or export of the data to systems of the technical analysis (Omega, etc.).

* reliability of functioning and low requirements to the computer of the user and speed of Internet connection.

Many brokers give the chance to trade except currencies in synthetic tools like contracts on a difference on the American and European actions.

The essential nuance is a charge of percent of means for the trading account of the forex trader, and the chance to trade having a small sum on your forex accocunt. Well and the standard standards at the largest brokers of steel:

1. Round-the-clock support with the financial news

2. Analytical information of the markets of currencies.

3. 24 hour technical support.

4. Presence of the personal manager for big clients

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In many countries the standard of good work in the market Forex are large broker houses. Forex Investors choose them and becouse, first of all,coming from the reliability reasons. In many respects the given preferences are caused by the psychological reasons. Historically all western (whether it be jeans, bank or the broker) seems to the citizens who have lived tens of years behind.

However bankruptcy of such giants of the market Forex as American Revco and Swiss Sovereign Financial Group has forced many our fellow citizens trading in world currencies, in a new fashion to look on a question of a choice of the broker. So, on what it is necessary to pay attention at the decision-making on the beginning of cooperation with this or that financial company?

Let’s begin with the reliability:

The reliable financial intermediary broker with long history of work, the license and a submission to control to regulating bodies, with system of insurance of the responsibility before the clients, the debugged system of risk-management in the company, a legal transparency, and security of contractual relations usually is considered. Thus the company still should be enough respectable though each of us understands this term in own way.

In it term of work still guarantees nothing: the large western companies mentioned above existed in the market long enough. However risk of loss of money in firm-something ephemeral it is considerable above, than at the broker who gives access to the clients to the financial markets not one year. Long history of work are the debugged mechanisms of risk-management (otherwise, the company would already be ruined), the qualified personnel, reliable partners, financial reserves etc. In a word, at the company with work history is advantages before beginners in the market.

Documents and regulating bodies:

Unfortunately, as practice shows, presence of licenses and a submission to control to the regulating organizations, whether it is the state or branch, also does not give a guarantee of safety of your money. However it is serious plus in a choice of the broker.

First, licensing process in itself cuts obvious swindlers. The company has to be open beforethe owners, to provide al the essential documents, the reporting. Besides, regulating bodies in this or that form supervise operative activity, financial indicators of the company.

Secondly, always there is an organization where the client can address with the complaint or the claim. So, in the USA in the market Forex is engaged in the control of brokers CFTC (Commodities Futures Trading Commission – the commission on trade in commodity futures) – the governmental commission in the status of federal agency. In England is FSA (Financial Services Authority – the commission on financial services).

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Psychologists studied ambitious people for decades. Such people have several general features:

- They work tirelessly for achievement of the purposes.

- They are opened for new experiments and constantly search for new ways of achievement of the next heights.

- They are extremely organized and concentrated. For example, they aspire to pass faster through easy problems to decide more difficult. They place priorities and devote the large part of efforts to really challenges, neglecting what seem rather easy.

In that, as to productivity of their work, they prefer the detailed and concrete data. They will choose a fair, exact estimation, which will reveal their defects with detailed carefulness, instead of the superficial fluent review. They are not afraid to face defects. They work independently. They are not anxious by results of others. Though they are extreme competitive, they do not compare themselves to others. A unique reference point for statement of the purposes – they are.

It is useful to see the ambitious trader as model for success achievement. Work tirelessly to reach the purposes. But be organized and reasonably distribute the time. For example, do not waste time aimlessly, reflecting, which of several equally profitable possibilities to take. Choose one and devote the rest of time and energy to a writing of the detailed trading plan. Plan strategy of an entrance, an exit and risk management. As soon as your plan is written, follow it. Do not be afraid to face the restrictions. Attend to them with reasonable optimism: if you work assiduously enough and apply efforts in proper places, you become the profitable trader. Constantly practicing, you, in the end, will get the experience necessary for market development.

If you wish to be independently conceiving, creative trader, it is important to reveal belief, which keeps you from it. You, probably, have learnt to limit yourself in the childhood. Find belief, which interferes you to think creatively, and you will find out that it became easier to you to think of new and profitable trading ideas. As soon as you will give freedom to your creative potential, you will reach new heights, as the trader.

It is vital to gather as much info 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 just one Forex books can save you much money.

When you have a psychological conflict, in your interests to decide it as soon as possible; otherwise it will gradually constant take away precious stocks of the limited mental energy. Identifying psychological problems before a business day, you can reduce possibilities of these problems to affect your consciousness, when you don’t expect it. Do you have unsolved conflicts in subconsciousness? It is heavy to get away these conflicts from the consciousness and to pretend, as if they are not present. On the contrary, the more you will shut eyes on existence of these conflicts, the more mental energy you will spend. Instead, it is much better to recognize them. More often, already fact of recognition of your conflicts will lead to their fast solving.

Even if you have not many conflicts, requiring the decision, there are conflicts, which each trader faces sooner or later. There are many views in trading, which have weight, but which are difficult for accepting. For example, traders should recognize and admit that the sequence of profitable bargains, most likely, has grown out of successful coincidence of circumstances, instead of skill of the trader. Though, it is very pleasant to think that we are excellent traders, it is better to recognize possibility of that we, probably, are not so talented, as it would be desirable, than to pretend, as if we are not those, who we are actually. As simulation of availability of trade experience takes away a lot of mental energy, it is better to undertake actions to correct a situation. This energy is better for directing, for example, on development of methods of trade, to perfect skills and to become the real best trader.

There are beliefs, which some traders can be afraid to recognize. For example, the trader can think: “Probably, I was the good trader before, but market conditions were changed and also I can not correspond to the expectations of profitable trade now”. All traders, anyhow, face such possibility. It is not important if it is true or false, supposing such thought in subconsciousness, you take away your mental energy. It is better to identify it and if it is false, to remind yourself that it is absurdity, and if it is true, to take necessary measures (for example, having studied new trading strategy), to prove its inaccuracy.

It is important 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 rock solid guarantee against losses, especially on Forex, but sometimes just one Forex books can be of big service to you.

Forex funds unite traders for work in the joint financial project. The financial companies forex funds purposefully are engaged in insertion of means of the investors in game in the currency market for reception of dividends. Investors can be quiet for the money put up by them because forex funds insure their means. Funds are very popular among traders, thanks to the given fact.

Funds make quite good profit for the investors. Sometimes the profit percent can grow to 10 in a month. Any existing bank is not capable to brag of such gain of the capital. In funds money brings money. Forex funds are the original insurance from inflation because money in forex funds works constantly that is, as it is known, the capital organic law.

Forex funds give the right to buy a share of fund which they personally operate. At liquidation of successful fund traders receive a royalty. All means in funds are used directly, and any trader forex fund not in a condition to do financial harm to other traders.
In case of the unsuccessful transaction nobody has the rights to show to it claims.

On forex funds granting of the full information on demanded themes is provided. Questions at issue on funds dare by voting. Forex funds have own rules, to execute which all investors are obliged.

Forex funds have appeared rather recently, but already had time to win here the place in the sun.

In each city, people try to earn or find additional earnings in each country. The concept of forex can become one of decisions of this purpose.

Participants get profit on a difference of currencies, and also purchase or sale of valuable currencies. It has its features, the risks in market conditions, the rules. As much as possible to lower possibility of losses and losses, first, it is necessary to begin with a so-called demo-account which will allow beginning real work without essential monetary expenses.

There are also additional tools which can help to lower losses in working conditions. One of such tools is hedging; under condition of this tool you will get more safe earnings. In general, hedging is a process elimination of risks by means of one of tools.

In the course of decision-making on hedging process, it is necessary to estimate really price risk in modern conditions. The risk can have some sources, for example, stocks of production which are not realized, the future crop or production which is not made yet, forwards.

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Certificates in favor of this hypothesis are received at original research by professors of finance Brad Barber and Terrance Odean. They have analyzed a condition of accounts of a considerable quantity of Internet traders. A subgroup identified as «self-confident», showed essential successes in the beginning of the period of supervision, but has ended with more pitiable balance in the end, in comparison with no so confident investors. Self-confident investors make much more bargains, than the others, reaching thus no big profitableness. Making much more bargains, they have paid more than commissions, which, in turn, have led to account aggravation. Young men age about thirty years and, thus, apparently, have appeared self-confident investors, basically as though self-confidence and propensity to overwork trade is inherent in this age. Though in this serious research it is supposed that some investors are more self-confident in comparison with others, in it wasn’t used any psychological measure of self-confidence, or optimism that was possible to evaluate this line. It was used some kind of an assumption that to identify self-confidence probably on bigger quantity of bargains. But self-confidence is line of the person. To show influence of optimism and self-confidence in trading, it is necessary to measure this line. The science moves forward and establishes limits and restrictions on the general conclusions. Here are necessary additional researches that it was possible to contemplate this problem.

Research of doctor James Felton and his colleagues throws light on this communication between results of trade and self-confidence. University students of a financial rate participated in 13-week modeling. To each participant it was given virtual 500,000$ for investment. There were, however, and some real stimulus for success in modeling. Students could win 500$ if somebody will appear in the top quarter following the results of the test. Optimism has been measured by means of reliable and valid psychological scale. Dangerous investments were advanced, as investment of capital to futures and options and as number of the bargains made throughout these 13 weeks. Men and women did not differ on optimism levels, but optimistic men did more dangerous bargains (futures, options, number of bargains) than pessimistic men, pessimistic women, or optimistic women. Unlike research Barber and Odean, the optimists doing more dangerous bargains, seemingly, did not have any negative consequences. Final sizes of accounts did not differ between men and women, or between optimists and pessimists.

So, is it bad to be the optimistic trader? The verdict still is not present. Additional researches are necessary. Nevertheless, most likely, not the best idea – to be the optimist and to make bargains without carefully studying of risk, restriction of a reporting limit or use of protective stops. But it is possible that are useful moderate optimism and reliance. Doctor Felton indicates that pessimists often panic, are frightened and lower hands when get to unprofitable operation. The moderate quantity of optimism, on the contrary, guarantees, that even in unprofitable bargain, the optimist will find the information without delay and will make the informed decision. In the end it a little like walking on a rope between extreme unrealistic optimism and extreme wearisome pessimism. A finding of confident balance is a key to consistently profitable trade.

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 just one Forex books can be of big service to you.

The beginner cannot orient, develop own tactics of successful trade quickly. Free trading signals help to “trim the sails to the wind”. Free trading signals Forex will help to carry out the good bargain as to the beginner, so to the skilled trader.

Free trading signals Forex function as signals of the technical analysis and signals of the fundamental analysis, concern short-term and intermediate term prospect. The short-term prospect allows getting profit at once, during short time (sometimes – for days).

Free trading signals on intermediate term prospect give the chance to predict profit for some weeks forward. As a rule, free trading signals Forex characterize movement of the basic currency pairs: the euro-American dollar, the British pound sterling – the American dollar, the American dollar – the Japanese yen, the American dollar – the Swiss franc.

Free trading signals are carried out automatically in a regimen of real time; warrants on the train diagram of currencies are exposed by the electron trader. It concerns both the postponed warrants, and the market.

The signal on an input in the market is given simultaneously with the advent of the price of stop-loss and take-profit. The equipment signal in a break-even position, as a rule, arrives, after warrant opening. The signal is possible at position closing under the current price (with profit or the loss) even if established stop-loss or take-profit yet has not worked.

Free trading signals are a possibility which will help much to get profit in the world currency market. The irreplaceable help to traders in case they while combine work in market Forex with other kind of professional work.

Forex a square Hannah (to download which it is possible in the Internet) is difficult enough for the description and understanding, however finds the successful followers, one of them is the successful trader Larry Williams turning a close attention on such factor, as Moon phases.
For more than 50 years of work at a stock exchange, U. Hannah has developed the most precise combination of mathematical and geometrical indicators for drawing up of schedules and their analysis for revealing of interdependence. Forex a square Hannah (to download which it is possible on the Internet) uses one of such original methods developed by Hannah, as a cardinal square which is way of an equalization of price both time sizes and geometrical angles.

Huge value to work methods on Forex with squares Hannah to download which give possibility specialized sites, gives the analysis of squares which represents the analysis and a finding of the future levels of support and resistance on the basis of last minima and maximums.

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To follow a trend, not to try to gain money for price little changes, to concentrate on correct entry in the market at the good price. If an item is good, adhere to it so long, how much it is possible. If the item contradicts a trend, develop it in conformity with a trend.

The range markets.

The range markets tend to try to convince short-term investors that they have almost infringed upon the items. It is necessary to trade at levels of strong interest to purchase (support) and to sale (resistance) – so-called levels of support and resistance accordingly – and to develop the item every time when it is infringed top or a hurdle rate.

Samples of behavior

As a rule it happens difficultly to advance a turn point on a trend line. Lower you will see variants of behavior of the price.

Flag – a flag upward or downward (wedge).

Triangle – descending / ascending / a symmetric triangle.

Double top or double hollow.

Threefold top or threefold hollow.

Change the Head and Shoulder or the return the Head and Shoulder.

Crack is a usual crack (Breakaway) / run out of control / an exhaustion.

Index of relative force (RSI)

The index of relative force is a comparison of average for some period of the maximum (up-close) prices of closing and averages for the same period of the average lowest (down-close) closing prices. The closing price is the maximum, if it is above, than the price of closing of a previous day. The closing price is the lowest, if it is below the price of closing of a previous day.

RSI enters into the formula giving to us this index on a vertical axis in a range from 0 to 100. If it is above 70, in the market is overbuying. At 80 – the market is considered optimistic (bullish). If RSI is lower than 30, in the market is overselling. At significance of an index 20 – the market is pessimistic (bearish).

Divergence – when RSI increases, the price moves downwards and on the contrary. It is the strong indicator of a rotary point of the market.

Versions of diagrammes

1. Columnar diagrams – show maximum, minimum and the closing price.

2. Linear diagrams – show the closing price.

3. Dot-numerical chart – price movement.

Volume and opening volume. Volume – total of trading activity (total of the executed contracts). Opening volume – total of the outstanding contracts concluded by buyers and sellers (not their sum).

Diagrams are built each 5 minutes, hour, day, week, and month.

Support and resistance levels.

Support – support area is a price range in which is possible the increase of the demand for currency (overflow area).

Resistance – resistance area is a price range characterized by increasing pressure towards sale. When to resistance area get from above, it becomes the nearest area of support for the further decrease.

Indicators.

Indicators allow to advance trends and their points of turn. They are more objective, than diagrams and are capable to ensure deeper understanding of balance of bulls and bears. The problem consists that indicators often contradict one another. Any of them work well on trend markets, while others – on range markets. One trace well turn points, others – trends.

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.

The basic preconditions on which the technical analysis is based, it is accepted to formulate in the form of following three postulates:

1. The market considers all. In other words, the price is a consequence also exhaustive reflexion of all driving powers of the market.

2. Price range is subordinated to tendencies. The market life consists of the alternating periods of growth and fall in prices so that in each period there is a development of the dominating tendency, which operates until will begin market movement in the opposite direction.

3. History repeats itself. The key to understanding of the future is covered in past studying. That fact that certain configurations on schedules of the prices have property to appear was stable and repeatedly, and in the different markets and in different time scales, is a consequence of action of some stereotypes of the behavior peculiar to human mentality.

The forecast of movement of the market, constructed by means of technical analysis, is the first constituent of strategy of the market participant behavior. On the basis of the made forecast is made the decision on opening of an item and on that, how many means to put in it. Forecasting of the prices says to the trader what to do (to purchase or sell), tactics helps to advance, when to do, and rules of management of capital prompt, what part of means to invest in the bargain.

Possession of all means fundamental and technical analysis gives the chance to the analyst to receive reliable forecasts of movement of the market, and tactical skill and discipline allow making effective decisions.

Indexes (prices) consider all. According to Dow’s theory, any factor capable anyhow to affect demand or the offer, will invariably find the reflexion in dynamics of an index (price). And, any, let it will be even earthquake, accident or any other factor. Certainly, these events are unpredictable but nevertheless, they instantly are considered by the market and reflected in price development.

In the market exist three types of the tendency. Definition of tendencies which Dow gives, looks as follows: at the ascending tendency each subsequent peak and each subsequent recession above the previous. In other words, at “the bull” (increasing) tendency should be contour of a curve with consistently increasing peaks and recessions. Accordingly, at the descending tendency each subsequent peak and recession will be lower, than previous. Such definition of the tendency is basic and serves as a starting point in trending. Dow allocated three categories of tendencies: primary, secondary and small. He gave the greatest significance to primary, or the basic tendency, which lasts more than a year, and sometimes and some years. Secondary, or the intermediate tendency, is correcting in relation to the basic tendency and lasts, usually, from three weeks to three months. Similar intermediate amendments constitute from 1/3 to 2/3 (very often half or 50 %) the distance passed by the prices during the previous tendency. Small, or short-term tendencies last no more than three weeks and represent short-term fluctuations within the limits of the intermediate tendency.

It is important to gather as much information 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, in particular on Forex market, but sometimes even one Forex books can save you much money.