There are lots of forex courses to choose from and most are not going to help you make money – but there are some good ones which can lead you to currency trading success and you can find them – with these simple tips…

The first point to keep in mind with forex courses, is that many rely on hyped claims they cannot deliver, so ignore any which claim the following:

- You Can Earn a Regular Income

Who can say this in forex trading profits are irregular NOT regular and if you trade, you need to be aware of this.

- To Reveal Little Known Secrets

Well if their revealing them their hardly secrets!

- They Predict with Scientific Accuracy

These are normally based on the far out theories of Gann, Elliot Wave and Fibonacci.

Well if you could predict markets with scientific accuracy then there would be no market, as we would all know the price in advance.

- A Simulated Track Record as Proof the System Works

You see this all the time. Most traders simply see the track record and take it at face value however, its best to read the disclaimer to see if the record is real trading or a paper simulation. You see this one a lot:

“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.

This means nothing in terms of future profitability, just the vendor can make a track record up knowing the past data.

Now those are some things to avoid when looking for a forex trading course but what should you look for?

- Check if their Traders

This is simple, just ask some questions and see what answers you get back. This is also a good test of what sort of support you are likely to get if you deal with them.

- Try and Get a Free Report or Trial

Many currency trading courses do this as a taster so you can sample at least some of the forex advice and see if you like it.

- See what Value There Method Has

What actually are they selling that can add value to your forex trading strategy and lead you to currency trading success?

They will normally tell you what it is even if they don’t reveal it, which is fair enough but look for some solid reasons you should buy.

- Look for Money Back Guarantee

You have to trust the person selling the material that its good forex trading education and you should have the right to a full refund if not delighted. Never buy a course if it doesn’t offer you a guarantee.

Use Common Sense …

A forex course should teach you tools which you can learn for yourself and apply.

While a course can teach you to trade you have to execute the trading signals and for this you can never follow a system or course blindly – you must know how and why it works, to follow the method taught with discipline.

Take your time in choosing a course, don’t be afraid to ask questions before you buy and use common sense if the copy, track record or claims appear too good to be true – they probably are.

If you want to engage in online currency trading then your aim is to make big profits – you have to risk more so the only reason to trade is to make more big gains. Most currency traders fail to do this as they don’t understand risk and reward, so here we are going to show you a simple method anyone can use to make huge forex profits.

First accept this

If you want to make money you have risk it!

The bigger the risk the bigger the reward -risk though is not just related to the market traded but also the traders strategy.

While it may appear that you are risking more with the online currency trading strategy oulined below, you are actually taking calculated risks and trading the odds and this actually increases your chance of winning.

So let’s look at how to do this.

1. Trade only the big trends.

Check a forex chart and look for the really big trends, the ones that produce the profits of $10,000 – 30,000 or more and you will notice:

They only come around a few times per year.

With this forex trading strategy, these are the trades you are going to focus on.

If you like the adrenalin rush of trading and simply trade for excitement, take up an extreme sport and don’t read any further, this method is designed to make money only.

2. How to spot the mega trends

Most forex traders don’t realize that the biggest trends of the year start form new market highs – NOT market lows.

This means that you need to look out for important valid breaks of resistance or support.

We don’t have enough room to discuss breakout methodology in detail – simply check our other articles but we will discuss one fact in relation to them.

Why Most Traders Can’t Buy Breakouts

Most traders fail to buy a breakout because they are obsessed with buying low and selling high, however the way to make money is to buy high and sell higher.

When a currency breaks to the upside, they wait for the pullback but in the really big trends, prices don’t pullback.

They then sit and watch the trade disappear over the horizon.

You need to have the mindset that if the break occurs you go with it. Sure, you have missed the first bit of profit but history shows there is normally plenty more to follow.

3. Trading the odds

You shouldn’t just buy a breakout – you should check that price momentum is accelerating to increase the odds of success. For this you need some momentum indicators and two great ones are the stochastic and RSI – There easy to use and very effective.

4. The hard bit!

The hard bit comes next, that’s having the courage to accept the huge gain the market is going to give you.

Most people simply can’t do this. They get obsessed with taking a profit as the profit develops, their not used to big profits and can’t accept them.

When normal volatility causes pullbacks in the trend they panic and bank early, better to have a small profit than none at all.

What happens next?

The trade powers on making thousands, or tens of thousands of dollars and their not in but they could be, if they had courage to accept drawdown in open equity as normal market behavour, which it is.

Placing a stop on a breakout is easy ( under the breakout point ) holding the trend longer term is the hard part and having the confidence to accept dips in open equity, while focusing on the bigger prize.

In terms of other ways of making money in online currency trading the above idees are not commonly accepted, but don’t let that bother you most traders lose!

Eyes on the prize

If you think about the above, you are only trading the best trends, you are confirming entry to increase the odds of success and risk is low.

Finally, it is the ability to accept the risk of dips in open equity and focus on the longer term that will help you make extraordinary gains in the forex markets.

Here we will discuss 3 tips which if you include them in your FX Trading strategy can turn a trading account making marginal money into big forex profits. These tips don not conform to the consensus way of making money but most forex traders don’t win!

1. Cut Back Trading Frequency

Most traders simply trade too much and you need to remember you don’t get rewarded for the amount you trade – just how many trades you get right and the profit they produce. The high odds big trades only come around a few times a month so look for them and trade them.

For example, I know traders who trade less than 10 times a year yet make 100% + annual profits and you can to.

Forget short term trading like forex scalping or day trading and hit the high odds trades only – the big trends that last for weeks or months. Look at any forex chart and you will see them, so lock into them and trade them.

2. Hit High Odds Trades Hard

When you have a high odds trade – hit it hard in terms of money you are prepared to risk. You hear a lot about risking 2% per trade but for a retail trader this is ridiculous. If you invest $1,000, that’s 20 bucks and your risk is so small, your going to get stopped out by random volatility. If you have a high odds trade risk up to 20%.

This is not being rash. If you have a high odds trade your confident in then you need to take a meaningful risk to make a worthwhile profit.

3. Don’t Dilute the Above!

Only run high odds trades and forget about diversifying. Diversification is supposed to reduce risk and maybe it does – but one fact is clear, it will dilute your profit potential at the same time.

Why when you have a great high odds trade do you want to dilute and reduce its profit potential?

Many people diversify so much, they never make anything! So don’t bother spreading trades around, hit the high odds trades, risk as much as you can afford and focus on it.

Many traders try so hard to reduce risk they actually create it and ensure they will never make any decent gains.

Trading is all about taking risk but this is not being rash, it’s about taking calculated risks, at the right time and knowing when to bet, how to bet and what stake to risk.

Your not trading forex to make 10 or 20%, you can do that with less risk elsewhere!

Your out to make 50 – 100% or more and the above is really common sense and if you try it, you will reduce your risk, turbo charge your gains and enjoy currency trading success.

Online currency trading is now within reach of anyone who has a computer, an internet connection and a few hundred dollars and here we will outline a simple, timeless currency trading strategy anyone can make big profits with…

If you look at a currency trading chart you will notice currencies trend up or down and these trends can last for many weeks, months or in some instances years.

Now if you can lock into these trends and hold them, with leverage on your side you can make huge gains – so how do you do it?

Look at any currency trading chart and you will see that all the biggest trends start from breaks to new chart highs or lows and they continue from these as well, so if you want to make profits, you should buy or sell breaks of resistance or support.

Breakout trading works because when an important level of resistance or support breaks the odds favour a continuation of the move and the reason is obvious:

Stops are behind these levels and when they are hit traders exit the market pushing the price further away from the breakout point next, technical trading systems are triggered to enter and push the trend further and then the retail investor gets on board and helps the new trend continue.

Its logical and it works but you might be asking what is an important level of resistance or support? Generally, you are looking for a few tests ( a minimum of two) and the more the level has been tested the more important traders will view it. We normally look for six tests or more and when the level gives way, the odds are really in favour of the breakout continuing.

If a level breaks, use some momentum oscillators to confirm that the velocity of price is accelerating and this will increase the odds in your favour even more.

The above all sounds simple ,you may say so why don’t most traders do it?

Most traders simply cannot trade breakouts due to having the wrong mindset; they think they have missed the start of the move ( and of course they have) so they wait for the price to pullback, so they can get in at a better price but as we have seen, this simply doesn’t happen and the trader misses the opportunity.

Breakout trading is easy and the risk reward is excellent, as the stop is just behind the breakout point keeping risk small but the profit potential is huge as big breakouts can give massive returns.

If you are patient and trade the best breakouts and use a simple system, you can soon be piling up triple digit profits in under 30 minutes a day.

A managed forex trading account simplifies the life of an investor. It’s designed for investors that do not have the time to manage their trading activities. There are several institutions that will offer this feature with their clients. A managed trading account is desired by investors that wish to jump into the highly profitable forex market without having to stress over the learning curve.

With the forex market being fairly complex in nature and with success in the market requiring education of the basics, it could be quite a drag on the individual who is looking to take on this opportunity. A managed trading account allows the traders funds to be monitored on someone who is a professional in the field of trading the market.

There are several types of managed trading accounts. One type is accounts that are controlled by computer programmed robots. A trader using this type of managed account has no human interaction with trading the market. This has advantages as taking away the emotional trading that could come into play when making discretionary trades. These automated systems are programmed by professional individuals and usually sold to investors looking to have their accounts managed. It runs completely off of technical signals that the professional programs into the system. This makes trading the forex market really simple.

Another type of managed forex trading account is where an investor lets a professional control their account. Every execution decision is made by a professional which basis his decisions on his expertise of the markets. The funds in the account remain the same as if the investor is trading the account themselves and can withdrawal their funds at any time. A managed forex trading account is not like mutual funds where you are pooling one investors money with a number of other investors funds to get profitable results. They are created to solely benefit the direct investor. This simplifies forex trading for the investor even further.

If you are trader looking to trade the forex yourself, then you must understand that you will have to educate yourself and follow the rules to successfully trading the market. Getting pointers or advice from professionals is usually highly recommended. Demo trading is a critical step into the learning curve of trading. Investing in a demo account allows you to invest in the markets with play money. This way you can learn to trade the market without risking you own real capital. This makes trading a little more difficult as compared to someone else managing the account for you.

With every investment there comes a risk. Forex trading can be risky if you do not know what you are doing. A managed forex trading account can place your funds in the hands of professionals with proven records of success in the forex market.

There is a popular saying in our current times which goes “Survival of the fittest and elimination of the unfit”; hence, it is a tendency of everyone to always look for a way to get an advantage on the competition in any field. The Forex trading market is no exception especially if you are attempting to get into this business. Most if not all forex new entrants spend countless precious hours trying to find out the magic forex trading formula that will yield consistent good returns without getting the major risk.

Foreign Exchange trading also known as forex trading is a worldwide buying and selling of money or currencies. Most countries around the world are involved in the forex trading market, where money is traded based on the value of that currency at the time. This is considered as one of the most viable investment with an unlimited room for improvement because forex capital market has become the biggest financial market in the world with a daily turnover close to US$4 trillion. It has been regarded as largest financial market which is over 7 times larger than all the combined stock exchange markets in the world.

Because of the very lucrative business in the forex trading market many investors are attracted to join the business without assessing and understanding the major obstacles and risk of the whole business process. It is of the utmost importance that there should be a good perspective and a ready answer and to resolve or to tone down the problems and obstacles which are encountered along the way. One of the most tragic outcomes in the forex trading market is to lose substantial amount of money quickly due to the failure of the investors to learn the process of the trade.

Fortunately there is a tool which is available to those who are looking for an edge when trading in the currency market. This tool is recommended especially for beginners in the forex trading market in order to prevent unnecessary loss of money. This tool is called as the Forex Demo Account which is an instrument that allows new traders the ability to practice currency trading without any risk of losing real money. It is a great learning tool, and also the best source of first-hand information about forex. This demo is only a simulation and is like a flight simulator of an airplane. By analogy, it is like spending a lot of time playing with fake money. In addition there is a great advantage here because there is no risk and emotion involved when trading a demo account, a position which normally happened to the owner when losing the trade. Hence, this Forex Demo Account helps to minimize the degree of failure in the trade.

In most of the Forex trading markets there are retail forex brokers that offer free forex demo accounts. The brokers do not require anything from the forex demo account owner but only an opportunity for the brokers to get a chance to show what it has to offer and hopefully encourage the account owner to open an account with them. This is a good business opportunity for beginners and enthusiasts in the Forex trading market.

Enclosed you will find two equations which most traders don’t understand and that’s why most traders lose however if you understand them and incorporate them in your Forex trading strategy you could be on the road to huge gains…

Let’s first of all start with the equation which relates to how and why markets really move and it’s this:

Supply and Demand Fundamentals + Human Perception of them = Price

Simple?

Yes it is but most traders fail to see its signifcance which is:

It’s not the facts that are important, its how humans perceive them that is; always remember humans are creatures of emotion and don’t conform to some scientific theory which means all the commonly perceived views below about trading Forex are wrong:

- You can predict market movements in advance
 
- You can trade breaking news and the facts

- Markets move to some mathematical theory

- You can make money from short term moves i.e. scalping or day trading.

Its clear that markets move to probabilities not certainties. So using complex theories or mathematical theories is doomed to failure; its also impossible to work out what millions upon millions of traders will do within a day, as all short term moves are random and breaking news stories and facts cannot be traded, as the facts by themselves not important, its how there perceived that determines what happens next.

So how do you trade online Forex markets and win?

In an odds based market, simple systems works best and you should simply trade the reality of price change on a Forex Chart. Most traders make Forex trading more complicated than it really is. Having a successful trading system though is not enough next, you now need to understand another simple equation to succeed.

A Simple Robust Forex Trading System + Disciplined Execution = Forex Profits

The key to winning long term at Forex is disciplined execution of a system. If you can’t execute your trading system signals with discipline, you have no system and don’t be deceived, trading with discipline is very hard.

The reason discipline is so hard is you are going to have losing periods ( all traders have them) and you are going to have to keep going while the market takes your money and wrong foots you and makes you feel a fool. When this is happening, you need to keep your losses small and stay on course until you hit a home run and this is hard.

Most traders think they will never lose and believe the rubbish that vendors of “sure fire” systems tell them which is – losing periods don’t occur or are very short.

When they hit a period of losses, they simply cannot cope with them and throw in the towel. if you understand that you have to lose to win and can trade with discipline, you can enjoy currency trading success.

Most traders don’t really understand how markets really move and lack the mindset to win. Above we have shown you what it takes to win at online Forex trading and the rest is now up to you – good luck!

If you want learn forex trading, you need to get the right Forex education and work smart and you will be able to join the elite 5% who make big profits and avoid joining the losing majority. Let’s look at how to learn Forex trading the right way.

1. You are Responsible

If you think that someone can sell you an e-book or forex trading system and make you rich think again. While you can get good forex education from some sources you can’t follow it blindly.

Successful trading comes from within and means having a forex trading strategy you understand and have confidence in, so you need to do some homework.

If you don’t understand EXACTLY how your Forex method works, you won’t have confidence in it and you won’t have the discipline to follow it through losing periods.

2. Avoiding Common Pitfalls

Many traders put in a lot of effort but get the wrong forex education and try methods that are never going to work.

Here are the two most common errors you can make:

Day trading:

This method makes me laugh, you can’t win and its obvious why – all the data is random. 95% of forex traders lose but this increases to 100% in the case of day trading.

Predicting:

Many traders think they have to predict where prices are going to win – but predicting is really hoping or guessing and you won’t make money relying on hope. You need to act on confirmation and I will come back to this later.

Also many traders fall for the markets move to scientific theory – rubbish! They don’t. If markets moved to scientific theory, we would all know the price in advance and there would be no market.

There the two most common mistakes and there are many more – they are mostly believed by lazy traders who think trading is easy.

3. A Forex Trading System For profit

You can build one easily and it only needs to be simple and your all set to trade for profit.

If you learn Forex trading correctly you will see why – simple trading systems are more robust and have fewer elements to break.

Use Forex technical analysis and charts and ignore the news. If you do it based upon charting you will be able to simply follow price trends and lock into them.

A simple currency trading system that trades support and resistance is ideal – you either look for it to hold or break and go with the potential move. What you need to do is CONFIRM you’re trading signals before entering.

Most traders like to simply buy into support and hope it holds and predict.

What you really need to do is wait for support to hold, by watching price momentum turn up – You are then trading with the odds. If you don’t know about momentum indicators look them up.

If prices break above resistance learn to go with the break and learn breakout methodology. Most major moves start from new market HIGHS not lows – so learn to go with the breaks based upon momentum.

That’s a simple system outlined that will work just support resistance and some momentum indicators.

4. Deal With Risk and leverage

Leverage is what makes Forex trading so lucrative and also destroys novice accounts because they can’t handle it.

You need to learn to take calculated risks when the odds are in your favour and employ strict money management. Don’t make the mistake of trying to restrict risk to much as you will simply create it and guarantee you will be stopped out.

It’s a balancing act you need to take risks but make sure the odds are in your favour when you do

5. A Plan For Profit

In any business you need a plan and Forex trading is no different, set a target and work towards it.

If you were to compound 100% per annum you will be up there with the best traders in the world.

Be patient in reaching your goal – good high odds trades don’t come around everyday, so trade sparingly.

I know traders who trade just a few times a year and compound 100% or more!

Keep in mind in forex trading you get paid for being RIGHT not the amount of times you trade.

If you want to be professional Forex trader you can, if you learn Forex trading the right way and get the right Forex education.

Most traders are too lazy, or think it’s easy to win and while it’s not difficult, you do need to take responsibility and work smart in the right areas.

Do you want to make triple digit gains? Then these simple forex tips will help you if you’re a novice or an experienced trader. There simple but many of them don’t conform to majority opinion, don’t let that worry you though, the vast majority of traders lose.

Here are your forex tips.

1. Trade Less to Make more

You can trade less than once a month and make triple digit gains – trading frequency has no bearing on how much money you make. In forex trading you get rewarded for being right with your trading signal – NOT the effort you put in.

People who day trade and scalp for example simply trade low odds trades, pile up transaction costs and get nowhere, don’t make this mistake.

Only trade high odds trades and be patient.

2. Trade High Odds breakouts

Most major moves start from new lows or highs so trade breakouts that are considered valid by the market.

This means numerous tests, in different time frames and if possible wide apart. We have covered breakout trading in our other articles so look them up, for more information on this timeless way to trade and catch the big trends.

3. Don’t Diversify

This is simply a way to dilute your profit potential.

Why add in some low odds trades to diversify a high odds trade? – It doesn’t make sense. All you will do is make smaller gains.

Concentrate on one high odds trade at a time.

4. Load Up The Trade

I often hear traders say you should only risk 2% per trade but this for most forex traders means you won’t make big gains. Why?

Because your account is too small. Consider this – if you have a $1,000 to trade 2% of that, you risk $20.00 un leveraged. You won’t make much on that, as you will probably have your stop to close.

To make money you need to take calculated risks at the right time.

If you’re confident risk more 10 – 20% and make your money work for you. Your better off to be patient and trade one big high odds trades, than lots of smaller risks on low odds trades where your almost certain to lose.

If you want to make money, you need to take a risk – just make sure you risk it at the right time.

5. Don’t Lock in to quickly

This goes with the above tip.

Most traders are so concerned about restricting risk they actually create it, by moving their stop to soon and getting stopped out by random volatility.

Don’t do the same with your forex strategy, give the market room to breathe and take short term losses in open equity and keep your eyes on the bigger prize.

The big trends last for weeks, months or even years, milk them for as much as you can.

You may say the above strategy is high risk – but risk is not just related to how much you risk, it’s related to your chances of success. Most traders think if they take a small risk that’s great – but its not so great if your odds on to lose.

The above forex trading tips are for the trader who knows that to make money you need to risk it. There is a big difference though, between taking calculated risks at the right time and simply being rash.

The above forex trading strategy will work with a robust long term forex trading system and is not designed for excitement – but to make bigger long term gains.

So if you want to make big long term gains in forex trading, the above tips will help lead you to forex trading success.