Brendan used to work as an investment manager in a hedge fund whereby his job was to generate revenue for the firm using forex trading. Now Brendan specializes in teaching real people how to trade the Forex market for long term financial success. He is a full time currency trader, educator and success coach to many forex traders. Brendan is the founder and CEO of TradingEducationProgram.org, a forex powerhouse online portal that provides premium forex trading tips and resources. It strives to empower people worldwide to improve their forex trading skills and help them path their way to financial freedom. Brendan’s forte is in forex trading, forex market analysis, technical analysis and creating simple, yet powerful forex trading systems. He believes that forex trading is a MUST for long term financial success because stock investment is no longer an answer to enhance your wealth management. He believes we will face a long term recession which will depress the stock market for a long long time. Brendan had graduated with Bachelor of Business (Economics and Finance).
It is difficult for Forex traders to realize that the currency market is extremely
unpredictable. As new traders spend a long time trying to learn the mechanics of the
foreign exchange trade and focus their time and energy on trying to find a method for
predicting movements, they naturally expect there to be rules governing the movement of the market. This not being the case, many traders find themselves at a disadvantage.
While Forex traders have a number of tools at their disposal, which allow them to judge the right time to open or close a position, many prefer to rely mostly on one tool. So, having opened a position, they watch their favorite indicator and, to a large extent, base their trading decisions solely on it, ignoring the others.
This works well enough until that indicator starts telling them something different from
what the others are. Traders caught in a open position which their favorite tool is telling them to hold, will often do so, despite the fact that other tools are telling them to close and get off the market, and end up losing money.
The basic problem, of course, is that the trader is not looking at the market as is, but
through the lenses of his own expectations about it and further using his favorite
indicator to reinforce those ideas instead of looking at the bigger picture. And,
encouraged by the fact that his chosen indicator is forecasting the profit he wants, the
trader is focusing more on money than on the market.
If the Forex market was not unpredictable, it would collapse because all traders would
profit all the time. There are many tools that can help traders predict the direction of the market and they usually do an efficient job. But even in the hands of the most
experienced traders, the best tools occasionally fail to predict the market’s movements
correctly.
Losing in trade because of predicting the market wrongly is an innate part of Forex
trading and traders need to accept it. Besides, they need to learn to avoid getting in a
position where they do not have many choices.
For this, the trader needs to accept the fact that the foreign exchange market pretty
much has a mind of its own and the traders have to follow its movements instead of
trying to make it go in the direction they want it to.
Enroll for a trading education program is the best way to kick start Forex Trading. Tactical Trading Academy offers quality online forex trading education, this is the website: http://tradingeducationprogram.org/. Click here to view videos of the trades done by the trainer. To find out more, send email to metal.commodity@tradingeducationprogram.org.
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By: Neville Sinclair | 29/11/2009If you are a Forex trader operating through the Internet then your broker will provide you with a Forex trading system - the software that you need to get information about the currency markets in real time and to execute your trades. As Forex trading online is now relatively well established there is a general consensus amongst brokers on just what is needed these days and most brokers will provide both web-based and client-based systems. But which system is best?
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By: Neville Sinclair | 29/11/2009Before engaging in Forex trading, you should carefully examine the environment. The risks and money can be very high and therefore should not be neglected. Not all investments are profitable; similarly, not all investors are suited to the Forex market. If you are uncertain, you can ask for the advice or help of a Forex broker.
Forex Heaven - Advisory Services
By: Neville Sinclair | 29/11/2009Forex advisory services provide personalized consulting, currency forecasts and advice for corporations, fund managers and individual investors. It can speculate the swings and trends of the forex trading for the benefits of the investors. Using the information provided by forex advisory services you can validate, or invalidate your trading strategies.
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By: brend | 14/06/2009 | Currency TradingIt is difficult for Forex traders to realize that the currency market is extremely unpredictable. As new traders spend a long time trying to learn the mechanics of the foreign exchange trade and focus their time and energy on trying to find a method for predicting movements, they naturally expect there to be rules governing the movement of the market. This not being the case, many traders find themselves at a disadvantage.
Learn Forex: 540 Pips Profit in Forex Trading In Two Weeks' Time
By: brend | 13/06/2009 | Currency TradingThe followings are trades executed for the period of 1st June to 12th June 2009. 18 trades were executed: 13 trades won and 5 trades lost. This results in a Success rate of 72%!
Learn Forex: The result is worth getting
By: brend | 28/05/2009 | Currency TradingA good education in school equips us with the necessary knowledge so as to prepare us for a job in the society. But many a times these knowledge are not sufficient to equip us with the necessary skill in a recessionary environment. In a recessionary environment like this we need vocational skills that can help us to make money even when we lost our employers. Forex trading is one such vocational skill that can help us ride through the tough times.
Case study for Euro Yen (EURJPY)
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By: brend | 20/05/2009 | Currency TradingDifferent products (currency pairs) have different behaviours. So you must use specific indicators for specific products. From this research we have discovered BL TS System.
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By: brend | 16/05/2009 | Currency TradingI am always skeptical whenever people tells me that using fixed indicators in their forex trading strategy will turn out to be profitable. I can simply perform a quantitative test to prove that using fixed indicators on currency pairs will not work over a period of time. This is because different currencies have different behaviour and this behaviour changes over time as market condition changes. So we cannot use the same indicators for a specific currency pairs for all seasons.
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Portfolio is up 11% since January, how is yours?
By: brend | 31/03/2009 | Currency TradingFor the same period S&P500;is down 13% and Dow Jones is down 14%. My subscribers’ portfolios of 11% gain have outperformed the market by a wide margin.