We all know the value of the dollar is constantly changing. We hear this on the news that the value of the dollar is going up or going down. Currency trading can be a great part of a diversified portfolio for investing. Most people already know, or believe they know how the stock market works. However there are some distinctions between forex and stock or option trading.

To be successful at learning the currency trading basics otherwise known as forex, information is king. It has been said that the closer you are to the information the better the information it is. The major benefit of trading forex is this information you know about a given currency or other inside information can be used for your benefit.

In short you can be an insider trader and take advantage of it when you find out about a given event or nonevent as it so happens. With stocks, bonds, and options you cannot trade or influence others based on what is called “insider information” or information that is not yet public knowledge. In some cases in the forex markets facts may be leaked days before the information is made public.

Brokers for stock and options traders make money on commissions from each trade that you make. The commissions vary from broker to broker and can be much higher for a full service broker or broker-assisted trade. Commissions for currency trading for the brokers is much different in that they make the difference between the bid price and the ask price.

For a beginner trader forex trading may not be the best choice to learn without some training and a basic working knowledge of how it works. For technical analysis a trader, chart reading ability is a must. If you new to all of this there is hope to get started making more relatively fast if you have the proper training or a good mentor that can be there for you when you need help.

“It has been said that the most expensive advice is bad advice.”

Finding a mentor that will teach you the currency trading basics will put you months and years ahead of others who try to learn on there own. Remember you don’t want to be cheap in the market. When you buy cheap things what do you usually get? A heap of junk and you have to spend more money to fix the problem. Cost should not be your first consideration in any market. Instead look for the best value and the dividends will pay you fortunes.

One great place to find a good forex signal service is 1st FX Services. He has over ten years experience and has been trading for a living for 3 years. A lot of people claim to be great traders but they don’t do it is a full time job, and make full time money consistently.

Check out for yourself, you can start the first 2 weeks free to try it out. This is the only forex call service I found that will let you try it for free!

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Learning the Trade Before Jumping in

This is a very important step. You see, the reason most people quit trying to day trade before they see real success is because they jump in too soon and lose money. This would not have happened if they would have taken the time to slow down and absorb some information on it first.

There are tons of stock trading books out there that will explain any strategy you can imagine to you in incredible detail. Think about it this way, a book will cost you $20, but the information you get from it will make you $1000’s if used correctly!

Starting Small and Building up to Bigger Profits

Another big mistake many beginner day traders make is trying to jump in with to big of a splash. Listen to me, you are going to be new at this. You need to take your time and make sure what you are planning is going to work.

Start with small investments. Better yet, make an imaginary portfolio. Use this time as a time to learn what is going to work for you and what is not going to. Do not worry, we are going to start making the big bucks before you know it!

Make Goals and Selling Once You Have Hit Them… (Stop Being Greedy!)

It is very tempting to make a good trade and instead of selling, you think you can let it keep going up. The problem with this is that you will likely be wrong. When you have hit your goal, just take your earnings and split. Again, do not worry, those earnings will continue to grow in our next investment!

These are just a few tips that I wish I had known when I started day trading. They have been a huge help to me and I know they will help you as well. learning how easy day trading for a living is can be very surprising for a lot of people, but with persistence and the will to succeed, you can do it without doubt.

You can find some great tools I use to day trade all the time here: http://www.pennystocksmadeeasy.com

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More likely, though, we are missing opportunities in the market on a daily basis.

If you have the characteristics of a successful trader, taking the reins and participating in “etf trend trading” may be a better option. Let’s quickly take a look at what the characteristics of a successful trader are so that you can begin to discover what style of investing may be right for you.

First of all, you need to be willing to follow the system of “etf trend trading”.

A person who is too engaged, who wants to jump at every perceived opportunity and who cannot rein in their impulse to click their mouse is probably not going to find success.

Another characteristic of successful traders is preparedness. Having all your ducks in a row will make the process quick and smooth. If you are well prepared, there is no need to spend hours at your computer puzzling out your next move.

Another point which corresponds to one’s ability to stay the course is emotional detachment.

Thinking with your head and not your heart and seeing the long term, “big picture” benefits of a system will make you successful. Along with this, successful traders have the courage of their conviction.

With “etf trend trading”, you must know that you deserve prosperity and stay the course to that goal. Finally, successful traders have had successful mentors.

Look for someone who has done well in the market who can coach you along the way and encourage you to continue on track.

Characteristics needed for successful “etf trend trading” are part personality, certainly, but many of the needed skills can be learned if one is willing to apply themselves.

Do your research carefully before you dive in to the market. Seek advice from those you know to be successful.

Finally, look to people with proven systems, like the folks over at trendtradingadvisor.info. If you think you may have what it takes to trade successfully, now is the time to evaluate your options and start your journey to the prosperity you deserve.

“As Seen On Bloomberg, CNN, and CNBC”

For a free guide to financially successful ETF Trend Trading, go to:http://www.trendtradingadvisor.info.

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The Bullish View

Abby Joseph Cohen, the Goldman Sachs senior market strategist, said yesterday that “We do think the new bull market has begun.” The Wall Street Journal says she is calling for the S&P 500 to reach 1050 to 1100, based on an improving economy and corporate profits.

The Bearish View

On the other hand, Paul Tudor Jones, celebrated hedge fund manager, has a decisively different outlook. He categorizes the rally off the March 6th lows as a “bear market rally.” As reported in the CNBC Stock Blog, the Tudor Investment Corp. sent a letter to clients saying, “The bottom line is that we are not inclined to aggressively chase the market here. ”

The Dilemma

How does the average trader reconcile two fundamentally divergent predictions from two recognized experts in the industry?

The best answer to this dilemma is to accept neither expert prediction, but to rely on your assessment of the markets.

Expert Predictions are Usually Wrong

We know from numerous studies that expert predictions – particularly predictions about the future behavior of financial markets – are usually quite inaccurate. Enlightening studies from behavioral finance have had expert panels give forecasts of a wide array of financial metrics and economic indicators. In most instances, the expert panels were off by a significant margin. In one study, the expert panel actually did worse than students.

It reminds me of the WSJ article that surfaces periodically comparing expert stock managers against dart throws. Guess who usually wins!

Listening to expert opinion runs contrary to good trading and good trading psychology. Based on the evidence, the odds of winning with expert opinion is low, perhaps exceedingly low.

How it Affects our Trading Psychology

Although we all like to be right and may believe that others must know more than we do, when it comes to the markets, this is just not true. When we listen to others we are affecting our own trading psychology in negative ways. We are relying on others to make decisions for us, rather than on our own knowledge, skills, and abilities. Trading is a game of independence; listening to expert predictions leads us into an unhealthy dependency that keeps us from developing sound trading skills.

What you can do

Expert predictions are just more of the noise of Wall Street. It’s really best not to listen. Instead, ask yourself what would it look like for the market to begin falling back into a bear market? What would it look like for the market to continue the current rally? Develop your own understanding of bear and bull moves and then put yourself into the position of being able to anticipate (rather than predict) both. If you spend time anticipating what both would look like, you will be in a position to act appropriately when you see one or the other occur. This, and not following an expert, will help you develop a true psychological edge for trading the markets.

Keeping current with advances in the field of trading psychology will help your trading. You are invited to visit Dr. Gary’s blog where cutting edge research and techniques to develop your skills are discussed: http://www.tradingpsychologyedge.com/blog

When it comes to trading, the technical side is only part of the picture. The mental side is just as important. For a free, seven-part e-course on developing your trading psychology skills, you are invited to visit http://www.tradingpsychologyedge.com

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Yet once you actually sign up for the newsletter, all you get is half-baked information and uneducated picks. You try to cancel your “trial,” and you find getting your subscription cancelled is nearly impossible. As unscrupulous as this sounds, this type of day trading newsletter story is all too common in the day trading world.

Yet finding a good stock trading newsletter can pay you great dividends. Not only do you get stock picks by a trader with a proven track record, you practically get to look over the shoulders of a proven pro and analyze how he thinks and why he makes his picks.

The trick, then, is in finding the profitable and reputable business. The best way to make sure you’re signing up for a legitimate day trading newsletter is to get a recommendation from a trusted source – A recommendation by a leader in the industry, or being quoted by a well known financial publication, or even a testimonial from a fellow trader, for example.

Whatever the case, it’s usually best to not give too much credit to what’s written on the sales page. While there are legitimate day trading newsletters that publish testimonials and track records, unscrupulous newsletters can also reproduce these are ways to build false credibility.

Get your ETF Trading System and sign up for my free weekly online trading system newsletter here at: Click Here Now

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Mark: I remember there was a friend of mine who wanted to get into trading, and he wanted to know if it was hard or difficult, and I said to him, “I’m actually psychic. I’ll prove it to you, I’ll show you how easy this market is.” It was the first Friday of the month, and it was 8:30, New York time, and I put him down on the market and said, “In thirty seconds, this market is going to shoot up — or down, but it is definitely going to go one way”, and he said “I don’t believe you.”

And he’s watching this and the market leaped like 200 points in 30 seconds, and he goes “Wow! Can you do this every time?” Yes, that was actually before news trading became so popular. You can’t predict what is going to happen to your money management, and staying in the game is the most important part.

David: Okay. This leads me to a question I do want to ask, because it is one thing that crops up all the time. People always like to know, if you are so successful trading the markets, why is that you are out there teaching others how to do it? Wouldn’t you be better off trading the markets and sitting on the beach somewhere just counting your dollars?

Mark: That’s an easy answer – to make money. I mean, that’s why I teach people how to check the markets. It doesn’t matter how philanthropic you would like to be, your first objective is to make money for whatever you are going to do with it. But there are lots of different parts of the business of trading, and if you think of learning trading, you probably couldn’t learn how to count, unless somebody read a book to you some time. Somebody has to teach somebody. Now here I am. I’m in Australia, in Melbourne, and I’m not trading.

So even though a large part of your trading — you really have to be active in trading if you are going to be active, even if you use daily charts, you have to monitor it on a regular basis. So when I can’t, on occasions like this, the royalties, or the money that I make from selling books and courses, or I don’t teach people anymore, but the little money that I make from the other interests in trading is what helps support me.

It takes out the fluctuations if you like, because trading, regardless of how well you do, has ups and downs. So the teaching part, or the educational part, brings in enough income to take the pressure off when I’m not trading, and affords me the luxury of doing things like this, coming over here and seeing you guys. So why do I teach if I’m so successful trading? To make money.

David: I think that’s a good answer. What are your thoughts on how much money do you need to actually make trading your full-time gig. Should other people look at other things as well, like yourself? You’ve got courses and things like that that you do. Is that something that other people should aspire to, or what are your thoughts on that?

Mark: I think you should do it. As long as it is morally acceptable to you, there is nothing wrong with doing anything inside the business of trading or any other business that you want to do.

Who Else Wants A Step-by-step, Blueprint Anyone Can Follow To Design Profitable Trading Systems?

Visit: http://www.ultimate-trading-systems.com/

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Here is the strategy:

Buy (sell) a momentum stock after it has moved higher (lower) than its morning high (low) after the first pull back from the morning high (low) has taken place. Trades should not be entered in the first 15 minutes of the market open with this strategy. All trades should be in the direction of a longer term trend.

Apply this strategy to stocks that have shown longer term momentum. A list of such stocks can be generated by running a screen for: top (bottom) performers in a sector; 52 week highs (lows); Certain % percentage of above moving average(s); Exchanges top dollar or percentage gainers for the week or month. Any screen that isolates stocks that are in a trend or likely to move should be OK.

Other indicators can be used to give trade signals validity. For longs, additional signals could include: MACD making new highs on moves above old highs; ADX line on DMI indicator rising with the positive line above the negative line; A short term moving average crossing above a longer term moving average; Volume increasing in the direction of the move. Any one or a combination of these tools (or the many possibilities not mentioned here) can be used to further validate a trade signal.

Set stops above a recent swing high if you going short, or below a recent swing low if going long. A major support or resistance level can also be used (these may end up being the same prices as the swing high/lows).

Cory Mitchell, CMT

If you would like to know more, are interested in learning how to start trading, need help with trading methods or want to know who to trade with, visit me at http://vantagepointtrading.com/trading-courses

You will have access to tons of free information or you can contact me directly via the site and I would happy to help you out.

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There are many benefits associated with financial spread betting. One, the profits you get through this type of trading is completely tax free. Secondly, you do not have to pay any unnecessary commissions. However, you will be required to pay some money to the betting company based on the spread, that is, the difference between buying and selling price.

Another benefit is having access to most of the global markets 24 hours, 7 days a week. You can do your stock trading in multiple markets through only one account. You also get to choose the currency you think is most appropriate for you, thus you will be saved the trouble of having to pay for currency exchange. Financial betting allows you to bet on movement of the market prices. You can go long or short, but either way, you can make a lot of profit if the market prices move on the direction of your bet.

All investments that deal with shares, currency or stock trading have to have an element of risk, and financial betting is of course no exception. Loses in this type of investment occur when the market shifts in the direction opposite what you placed you placed your bet on. You can monitor your funds, and maybe control your loses through some of the stop loss mechanisms available to you.

One of the forms of betting that is similar to spread betting and equally popular among many people involved in stock trading is contacts for difference, or CFDs trading. However there are a number of differences between the two. There are no commissions, but in CFD trading you have to pay some commission. CFD trading is subjected to Capital Gains Tax while financial betting is not. There are no dividends in spread betting, but CFD traders do get dividends when possible.

Binary bet is yet another betting option that has more or less the same properties as financial betting. However, unlike spread betting where prices are based on the underlying instrument price, the price of a binary bet is based on the odds of the occurrence of an event. Binary betting is popular among stock traders since it offers a lot of flexibility.

Opening a spread betting account does not involve much. You can open one online or through the telephone. Spread betting offers a very simple way to gain when the stock trading market seems to be falling. Financial spread betting is not the best option for making a long term investment plan. However, this type of trading is appropriate for those who would like to make short term profits from stock trading.

Find out more about Financial Spread Betting Guide and Compare Financial Spread Betting Brokers.

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And that is the silly thing about videos showing traders making $10000 a trade. In my world, you would need about a 2 million dollar account to risk that sort of capital on a single trade. Now there are plenty of traders out there with far more capital than two million, but they aren’t posting their trades on YouTube. Why would they?

For the average trader, you can make a great living on the ES emini contract only trading one contract. I sometimes trade as high as ten, but generally I trade one or two contract and feel I am managing my money efficiently. I suppose I am more of a singles hitter than one to try to hit a home run. I am very content to consistently make 500-1000 dollars a day with relatively little drawdown. In fact, I generally only risk 2% or so of my capital on a given trade, especially during volatile sessions.

And that is a funny thing about paper trading on a demo account. I see paper traders entering order of ten or fifteen contracts and being amazed at the amount of money they can earn trading at that level. It is my belief that you should paper trade just about the way you plan to trade a real account. One or two contracts is a nice place to start on the ES Emini contract, and 2 or 3 contracts is a nice place to start on the YM contract. Why influence your thinking on paper when correct money management technique dictates you trade lower amounts in a live trading account?

So practice sound money management and don’t overtrade and don’t overload your risk tolerance with excessive numbers of contracts. Paper trade the way you plan to actually plan to trade. Practice doesn’t make perfect, perfect practice makes perfect.

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And the Art of Scalping could be the most under rated form of day trading discipline.

The day trader who scalps for no more than 10% and then sells regardless will never go broke, he or she won’t ride the big waves of course, but think of it this way

Your Canadian $5,000 TFSA, when traded and scalped for 10% profits could look like this

Day 1 – $5,000 invested, a $500 profit earned
Day 2 – $5,000 re-invested, a $500 profit earned
Day 3 – $5,000 re-invested, a $500 profit earned
Day 4 – $5,000 re-invested, a $500 profit earned
Day 5 – $5,000 re-invested, a $500 profit earned

At the end of week 1, no big profit days, but at week’s end you are up 50%. Now repeat that in week two, still only investing your original $5,000 TFSA and your original $5,000 is now worth $10,000.00 by the end of week two.

And further, if you did that for 50 weeks, your $5,000.00 TFSA would be worth $130,000.00

Don’t be tempted to invest more than your original $5,000.00 for at least a few months, for safety sake.

If you buy 25,000 shares of a Canadian .20 stock on the pullback, the stock only has to move up 2 cents and you’ve earned 10% .. let me give you two great examples:

If you caught the Canadian drilling news at Stock Research Portal on Friday August 14, 2009 for Aura Silver Resources you could have scalped likely a lot more than 10%. As the stock did run on the news from .15 at the open to over .50 during the day on 9 million shares traded.

And just two days prior to the Aura news release, Lydian International had news of their own. News that lifted the stock from the open of .55 to a high that day of .88 on 1.8 million shares traded. So clearly the news matters, but it matters most, when the volume is there to support it. In the case of these two Canadian companies, the trading volume increased immediately after the news was released.

But as a disciplined process oriented day trader, you take your 10% and say “thank you very much”.

So what if you left money on the table, you had a profitable day and in the end, that’s the discipline, void of any fear or greed. Discipline is not easy I admit, we’re all human, but it’s that discipline that keeps you from making emotional trading decisions. Emotional trading is death to a day trader!

My strategy is pretty simple, I check the Stock Research Portal site (just sign up for a free membership) for Canadian drilling news releases regularly, then see if higher than usual volume comes in. If it does, I will always wait for a pullback in the share price, never EVER chase it. On the pullback you are ready for some disciplined stock scalping.

So there you go, “the art of scalping” scenario, and how it can keep you focused, disciplined and in the money.

Mike Perras is a former media executive and faculty of business professor. Today he is a freelance writer and also manages the Canadian Stock Alerts blog. It is updated weekdays in real time, and the primary focus is to find stocks with higher than usual trading volume. Mr. Perras doesn’t advocate buying the stocks he mentions. Nothing in this article is either designed to meet readers personal financial situations, or intended or taken to be investment advice.

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