Blog Review at DailyForex
By Mike Conlon | November 2, 2009
I just wanted to take a moment to thank Hillel at DailyForex for taking the time to review my blog. I guess my Mom is not the only one who thinks I’m pretty great LOL! All kidding aside, you can read the review here.
One thing I did want to note about the review is that while I typically don’t offer tutorials on the blog for newbies, I do assume that my readers have a certain level of currency understanding and basic knowledge.
And that’s my role here at FXEDU. I am an instructor. It is my job to make sure that you, the reader, understand the currency market and are comfortable placing trades and participating in the largest financial market in the world.
It is my opinion that a little bit of knowledge can be dangerous in the “wrong” hands. And by wrong I mean “uneducated”.
It is very true that there is a lot of good, free information out there on the internet. But the problem for the novice trader is that it is very unorganized. Because of the nature of being new to something, one might not necessarily know what they should be looking for and could miss very basic, fundamental information that could be critical for their success.
And that’s what we do in our courses. I’m not here to act like some big-shot guru and promise you wild success and if you follow my methods that you’re going to be rich, etc. like you see out there on the internet.
What you’re going to get in our courses is a step by step plan that will take you from start to finish, and help you put together a trading plan that is right for you. The course is an online format, and you have access to our instructors 24-hours a day to ask as many questions as you like. So you can take the course on your own time, at your own pace. And its affordable. Only $100. If you are serious about getting started in forex, our course is the greatest value out there on the internet.
And it won’t cost you an arm and a leg. But it just might save you one. So what are you waiting for???
Get enrolled in a course today!!!
Click here to see all of courses.
Tags: article, blog, course, currenc, currency, currency market, education, financial, forex, forextrading, free, fundamental, fx, fxedu, Il, instruct, instructor, lot, Mike Conlon, news, time, trade, trader, trades
Topics: What To Look At In The Market | No Comments »
Massive sell signal on USD/CHF today!
By Sean Hyman | May 28, 2009
Want to go against the crowd? Traders are piling in long USD/CHF in a major way. The only problem? USD/CHF is in a downtrend. Therefore, these guys will either get stopped out (which causes selling pressure) or they will freak out and reverse their positions which also adds selling pressure. How do I know they are so “long” USD/CHF? Look at Dailyfx.com ’s SSI reading and you will see: http://www.dailyfx.com/docs_pdfs/research/FXCMSSSI05282009.pdfWant to take advantage of this? Then you can open up a demo account here: http://www.fxedu.com/practice-forex-accountOr a live account here: http://www.fxedu.com/live-forex-accountNeed to learn more about this market first? Go here (http://www.mywealth.com/currency-trading.php)to get started in an inexpensive online course that’s available 24 hours a day…no matter where in the world you’re at…you have live instructors there to answer your questions anytime 24 hours a day Sunday evening through Friday evening. Sean Hyman
www.forextradingblog.com
Tags: account, blog, CHF, course, currency, dailyfx, demo, demo account, dow, downtrend, forex, forextrading, fxcm, fxedu, instruct, instructor, live, market, mywealth, practice, Sean Hyman, ssi, time, trade, trader, USD
Topics: What To Look At In The Market | No Comments »
How much money should you start up an account with?
By Sean Hyman | May 18, 2009
I’m often asked the question in our courses….”How much money should I start my account with?” Good question.
Let me give my personal opinion on this.A micro account CAN be started with $25 and a standard mini account CAN be started with $2,000. However, the less you start with, the bigger percentage of your account that you have at risk generally.
So one way you can increase you chances of success is to have a well funded account. Let’s say that you have a 100 pip stop on one lot. That would be a $100 loss in the mini account and a $10 loss in the micro account. Let’s focus on the micro account, since that’s the best place for most beginning traders to start out anyway.
If I have a $25 micro account and lose $10…then I’ve lost 40% of the account balance. However, if that balance were $100, then I’ve lost 10% of my account balance. I’m much more able to recover from a 10% loss than a 40% loss. Emotionally speaking too…it’s easier to handle the loss of 10% than it is for 40%. Now, if I had an account balance of $200, then my loss would be 5%.
This is why I suggest people start micro accounts with at least $500 to $1,000 and start off trading only 1 micro lot at a time. In the end, you’ll be glad you started this way vs. starting with the minimum. Again, this is strictly my opinion as a trader and as an instructor.
Ultimately, it will be your decision as to what you feel is the most prudent thing to do for you. However, a lot of people don’t think about the impact of their “beginning balance” upon their trading and the likelihood of their success and that’s why I bring it up here. Happy trading!
Sean Hyman
P.S. - Get your live micro account started, here: https://secure2.fxcorporate.com/fxtr/?plugin=0&locale=en_US_FX_EDU_LLC_MICRO
Tags: account, blog, course, decision, forex, forextrading, instruct, instructor, lot, money, pip, Sean Hyman, time, trade, trader, trading
Topics: What To Look At In The Market | 2 Comments »
How to get started with a Forex Demo Trading Station
By Sean Hyman | March 31, 2009
I put together a couple of very quick videos to show you where to get a demo and how to download it (http://www.youtube.com/watch?v=WQMvavXrPMY) as well as how to understand quotes, lots, pips, and how to place a trade with a stop and a limit (http://www.youtube.com/watch?v=WhLChCWtw9M). Enjoy!
Tags: course, currencies, currency, demo, dow, easy, explain, forex, fx, fxedu, instruct, invest, lot, mywealth, pip, pips, quotes, Sean Hyman, simple, teach, trade, trading platform, trading software, trading station, video
Topics: What To Look At In The Market | No Comments »