Nick's Forex Blog
Hey Guys,
I try to make posts two weeks before any major Forex expo/show/conference. However, I do not want to make three separate posts this week about expos so I am containing them all tot his post.
Start: Wed, Nov 16, 2011 13:00 GMT
End: Sat, Nov 19, 2011 13:00 GMT
Address:
Caesars Palace, 3570 Las Vegas Boulevard South,
Las Vegas,
United States
Price: FREE
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I get several emails per month with people asking me to recommend single services. My response to these emails is always the same.
“Even if you manage to find a good signal service -big if- you might make some money for a while but it will not last!”
If you want to make money in Forex you need to:
This all boils down to something I call unsustainable trading. Being reliant on others to make your money for you is unsustainable. Being able to do your own analysis and enter you own trades is much more sustainable.
If you blindly follow a signal service, what will happen when the signal service shuts down? What will happen when the signals stop working? You will be back at square one, you do not know how to trade, and your income stream dries up.
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Hey guys,
I have been getting a lot of requests for another webinar.
So here it is!
On Tuesday the 15th of November I will be holding a webinar on:
Identifying Reversals With Support & Resistance
In this in-depth webinar I will show you how to use support and resistance to spot high probability trend reversal.
Date: Tuesday the 15th of November
Time: 10:30pm GMT
Registration Closed
Hey Guys,
I thought I would let everybody know that the free World MoneyShow London is coming up in about two weeks. I will be attending the conference and would love to see some of you guys there. If you’re not sure what the MoneyShow is, here is a quote from their website.
Discover the top experts’ strategies for profiting in 2011
Today’s challenging market conditions require even more knowledge than ever for private investors and traders, like you, to keep pace with the latest market intelligence, safeguard your portfolios, and profit from opportunities that may only be available for short periods of time. That’s why we’ve designed The World MoneyShow to address your concerns and educational needs in these rapidly changing global markets.5 reasons to attend FREE:
- Meet face to face with top investment and trading experts
- Acquire a global market perspective
- Network with and hear new ideas from other fellow investors
- Get advice tailored to your needs during keynote speeches, interactive workshops, live trading demos, and spirited panel discussions
- Discover and compare investment products and services in the Exhibition Hall
Start: Fri, Nov 11, 2011 09:00 GMT
End: Sat, Nov 12, 2011 09:00 GMT
Address:
Queen Elizabeth II Conference Centre, Broad Sanctuary,
London,
United Kingdom
You can register for the MonayShow for free.
Hey Guys,
I haven’t posted very much recently. I have been hard at work producing new video lessons for the FREE Plan, Prepare, and Make Pips video course!
I have just released a brand new set of lessons on Keeping a Trading Journal.
Sounds boring right? Well it isn’t!
In the lessons I show you the simple but powerful journal format I use myself. This trading journal format had been road tested by me and the members of the Super VIP so I know it works. Keeping a proper trading diary can take you from a losing trader to a pip making machine..
I also give you an excel template of the trading diary so you can start keeping your own easily.
For the next lesson
One of the most common questions I am asked is how long it takes to achieve success in Forex. Unfortunately mastering Forex is a long process, it takes on average 2-3 years to become a successful Forex trader. So for all the new guys just starting out I created an info-graphic that lays out the road to success in Forex, check it out below.
To put this info-graphic together I interviewed over 20 traders. The traders interviewed have been trading from as little a few months to as long as a few years. This gave me a very good ideas of the average time it takes to become a successful Forex trader.
While interviewing traders for this info-graphic I uncovered some very interesting facts about common mistakes new traders make.:
MT4 has alarms but the entire system is clunky and not very user friendly. For this reason I developed a useful MT4 indicator called…. The Alerter!
The indicator turns every line on your chart (including trend lines) into an alarm. You can of course deactivate any lines you do not want to act as alarms. You can grab the indicator by clicking here and logging in.
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Hey guys,
Today is day 2 of the Jackson Hole Symposium and the big event of the day is the highly anticipated speech from Bernanke.
The markets have shown a lot of indecision this week, as you see on the 4hr chart below, EUR/USD has tightened up into a wedge. In my opinion this is because traders are just waiting to hear what Bernanke has to say today.
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This week’s tip is simple…. DO NOT TRADE TIRED!
I cost myself 70 pips last week on a E/U trade because I was trading tired. I had a very late night and woke up to my chart alarm going off after only 2 hours sleep. In my tired stupor I somehow stumbled to my computer and entered a E/U long after which I went straight back to bed. When I woke up I saw that my trade had hit it’s target and then reversed significantly.
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This week’s tip is all about making Metatrader easier to use. Metatrader comes with a whole lot of very useful hotkeys that can speed up navigation of the platform and improve efficiency.
Getting accustomed to using hotkeys can be a little annoying but it can potentially improve your trading. Being able to navigate your platform faster and use it more efficiently will definitely give you a little bit more of an edge. Think about it like a carpenter who knows how to use a hammer properly!
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