Wednesday, August 29, 2007

Online FOREX Trading - To Be Successful Don't Listen To The News

The online forex trader today has a vast amount of news at his fingertips due to growth of the web and many investors think the more news they study and act on the more likely they are to win, however the exact opposite is true:

Pay to much attention to the news and you will lose.

The reason for this may not be obvious, so lets look at this question in more detail and see why.

Will Rogers once said:

I only believe what I Read in the papers

He was joking but the majority of new online forex traders think they can use the news to their advantage, but they cant heres why:

Markets discount

Lets face it, we see stories all the time from news wires that are full of convincing reasons why a currency will rise and fall, but in most cases there simply good stories and the currency often moves in the opposite direction.

The markets however dont move on supply and demand fundamentals and opinions nor do they move logically.

Currency prices move to the following equation:

Supply and demand fundamentals + Investor psychology = Market movement.

Investors are in the equation and it is how they view the news that is so important, not the news itself.

Investors are driven by emotions greed fear and hope and it is they that determine the price.

Markets discount news instantly in todays world of lightening fast communications, so it is almost impossible for most traders to trade off news stories.

Throw in the unpredictably of human nature and trading news for most investors means losses.


If you pay to much attention to the news, your emotions can well come into play.

You will hold positions you should not, simply because the experts are saying they are right in the press.

Dont forget these experts are selling stories and are not traders.

If you pay to much attention to the news you will simply let your emotions get in the way and discipline will go out the window.

Its a fact, that:

Major market tops are formed on bullish news and major market bottoms are formed on bearish news.

A compelling conclusion

For small traders the best way to trade fore markets is with a disciplined technical system.

Why? Because it takes the news into account anyway.

All it assumes is that fundamentals are instantly discounted and will show up in price action.

Not only does technical analysis take into account the fundamentals and news, it also takes into account investor psychology.

Taking into account investor psychology is critical, as investors determine the price of anything.

Human nature never changes.

Repetitive price patterns can be seen in charts that reflect human psychology and can be traded for profit.

That is the opportunity, if you trade with a technical system and ignore the news.


On all aspects of becoming a profitable trader including info and for an exclusive Gann Trading Course visit our website at

Forex Currency Trading Systems

While the market is swamped with websites and books offering advice on the best' and newest' forex currency trading systems, it is important to do a thorough check of the system to ensure that it really works. There are a large number of such forex trading systems that are completely fraudulent or simply do not work, and have been created with the sole intention of making a quick buck. But despite this, there are plenty of forex currency trading systems out there that do work and can be quite reliable if used in a disciplined and consistent manner.

Everyone is looking for a forex trading system that works and gives them high and continuous profitability over a period of time. One must be realistic in searching for a good system, and keep in mind some essential factors when selecting a forex trading system. Firstly, it is critical to fully understand the logic on which the trading system is based. Only a complete understanding will enable you to use the system effectively over a long period of time. Not only grasping the logic, but also agreeing with it is important. The forex trading system of your choice must seem logical and intuitive to you or else you will find it impossible to stick with it.

Secondly, you should embrace a good forex currency trading system for the long term, and put in the appropriate amount of research and trial based on this idea. A solid system will tap in to long term patterns and the potential for sustained success of any system in the short term is negligible. Thirdly, be ready for a hit. Be financially prepared for a downturn and based on the assumption that at some point you will face this event, plan for your staying-afloat strategy. Emotionally and money-wise, be ready for the big one when it comes.

When you commit to a forex currency trading system, ensure that you give the system adequate time to start showing profitability. This may be not be months, but possibly years, since every system experiences a time when it produces losses or lowered returns. Give your selected system a fair trial and try to trade consistently and logically. In addition, some forex trading systems will not offer real trading data, but will be simulations that are based on a particular logic and work using historical data. As long as the logic is solid, there is no reason to reject these systems outright.

The simplest forex trading systems tend to work most effectively in a rapidly shifting market place. Just because a system seems complicated, doesn't mean it will perform better. Pick a forex trading strategy that's easy to learn and easy to use and you feel comfortable with. Identify the major trends that affect a currency and select a forex trading system that works in tandem with it. Finally, a cardinal rule of the trade: Always rely on a system that is disciplined and rational. Do not be swayed by emotions. This has spelled the downfall of some of the most influential and successful forex traders, including the pros, and must be avoided at all costs. While it may seem unlikely to you now, once you are in the midst of your forex trading experience, you will find it easy to be moved by your emotions.

The biggest advantage of a forex currency trading system is that it works completely without emotions and if you can follow it mechanically, it will be the key towards a long term career in forex trading.

Andrew Daigle is the owner, creator and author of many successful websites including a free forex currency exchange training site called ForexBoost and Forex Training blog for the Novice and Advanced Forex trader.

Harddrive Crash Helper

If you have lost some data due to either hardware failure or physical damage it is very likely that you will not be able to recover the data yourself. In such a situation you will need to look elsewhere to get your data recovered. In the, now, big business of data recovery there are many companies offering service. It is important to choose the right data recovery service for your business. In addition to choosing wisely it is also important that you move quickly.

While deciding which service provider to choose from look for one that has a good track record and has the capabilities to recover data lost due to multiple reasons. For example, they should not only be able to assist if you have a general hardware failure but also if your harddrive itself has failed or is damaged. If available, review any references from other clients.

Some service companies specialize in particular brands of harddrives. It is often prudent to contact the manufacturer of your harddrive and see if they have a list of service providers they can recommend to you.

After selecting a service, read the service agreement very carefully. You will need to understand your financial obligations. Some services will only charge full price upon the successful recovery of your data while other services base their fees on the time and attention your situation called for. Ask for an estimate of the final cost. This will give you the best ballpark figure of your final expense. Although data recovery services can often be expensive, the value of the information you recovered can be priceless.

In this day of age it is not unheard of for a laptop computer to be dropped in water or for lightning to strike your phone line and damage your computer through your modem. Businesses loose thousands of dollars of information every year to data loss. For individuals the cost can seam much higher when personal photos and videos are at stake. If you computer suffers damage and you loose some files the best course of action is to pay the price of contacting a professional service.

Find out more about what to do when your harddrive crashes by visiting, a site dedicated to making the task of recovering your lost data easier.

Forex Trading Knowledge Is Power Not in FOREX Trading It Isn't!

I read all the time about how important it is to learn lots of information to trade forex and how you continually need to learn, but this is NOT true.

Succesful Forex trading is actually very simple and the knowledge is easy to acquire, yet 90% of traders lose - so why is this ?

Because knowledge alone is not enough, furthermore you need to learn the right knowledge and most forex traders dont.

There are plenty of very smart people who lose and plenty of small potato investors who make a lot. The fact you have a lot of knowledge or are clever does not ensure success and in most cases ensures you lose.

Lets look at this in more detail.

The right knowledge

Is not hard to acquire and starts from learning yourself and not trying to get a short cut to success by buying it - if you think you can buy success you are going to lose.

Trading means getting knowledge that works and you can have confidence in.

Your aim is to make money, not be clever and you can build a simple system from free resources on the net.

Simple systems beat complicated systems as they are easier to understand, easier to apply and make more money as they are more robust.

Fact is most of the top traders in the world use simple systems.

We have been traders for over 22 years and our system is simple:

Trend lines, support and resistance to spot trends and 3 confirming indicators and thats it and it works.

The right knowledge is easy to acquire but the trick is you MUST understand it, to have confidence and this gives you the trait that most traders lack.


If you try and follow someone else you wont have confidence and you wont be able to follow a system with discipline.

Unless your knowledge is acquired by you and you have confidence, you wont be able to follow your trading system through losing periods. You will simply throw in the towel

Discipline sounds easy to acquire but it isnt its extremely hard to hold your emotions in check.

How do I get the RIGHT Knowledge

Forget all the e-books, courses and other forex education sold on the net.

Go to Amazon and get some books by top traders, who have walked the walk rather than simply talk the talk.

Most sold info on the net is not worth the money and you can get far better knowledge cheaper at your local bookstore.

Good books to start with are Jack Schwager Market Wizards and New Market Wizards the interviews here are all with legendary traders and is a great inspiring read.

Then get some books on trader psychology.

I am a big fan of Jake Bernstein who really shows how important and elusive getting the right trading psychology is and really hits it home.

Another favourite of mine is Trader Vic by Victor Sperandeo, a fantastic book covering all you need to know from money management to system building.

Done that?

Then go on the net and build a simple system based around technical analysis, a breakout methodology find a few indicators you like to confirm trend momentum and youre all set to go.

Sounds simple?

Building the system is the easy part getting the right mindset is the hard part - good luck.


On all aspects of becoming a profitable trader including features, downloads and some critical FREE Trader PDF's and more FREE Forex Education visit our website at

Mika Brzezinski Sets Paris Hilton On Fire

This story is entirely true. I swear that this did happen. In a parallel universe. And if you don't believe in parallel universes, you are a scientifically illiterate monkey and you should stop reading this article right now.

Okay, okay... I was only joking. As a theoretical physicist by training, I may be wrong about the monkey part (and may I suggest that you consult it with a zoologist to be perfectly sure about it), but the idea of parallel universes, as crazy as it sounds, may not be that crazy after all. Certainly not by scientific standards.

Now, in the Universe we happen to inhabit, also known as "the best of all possible worlds," the effect of Paris Hilton set on fire turned out to be pretty washed out. Fortunately for Paris... I am not so sure about the rest of the world, though.

In this Universe, Mika Brzezinski only attempted to set on fire a report about Paris Hilton release from prison having found it trash- rather than news-worthy. Since the lighter she was using refused to fully cooperate, she ended up tearing the report into pieces.

This simple act of journalist defiance against conveying trash information and, let's be perfectly honest here, some well calculated showmanship (or should we rather call it "showpersonship??") as well, made Mika Brzezinski an instant journalist superstar on and other hot Internet channels.

Nice job, Mika, although if I am to be totally honest, and with all due respect, this somewhat pales in comparison to what some Polish journalist, also a female (you male brownies take a note!), did some 17 years ago, when she publicly and demonstratively told the audience of TV news that she was quitting her job because she could not stand relaying the news the way her bosses insisted on. She then walked out of the studio. It was all live.

Mika Brzezinski is a daughter of Zbigniew Brzezinski, arguably the most influential Polish-American political strategist, a former member of the Carter administration.

For another, more interactive, version of this article, please see this page:

Waldemar Puszkarz, Ph.D., is a web veteran with 15 years of web surfing under his belt. By training, he is a theoretical physicist, but his interests are much broader than science and include trading financial markets, sports betting, poker, and researching online business opportunities. He is also an avid book reader and sports afficionado. Currently he is making his living mostly as a day trader. He has been in the trading trenches for almost a decade during which he has traded a variety of financial instruments. He is the owner and webmaster of ( which provides free common sense trading education and simple trading systems for e-mini and stock markets as well as reviews of honest online business opportunities in Meet HOBO ( section of his site.

British Pound Live Trade - A Short Trade and a Big Profit Awaits

Here we will look at a trade in real time and look at reasons why the BP will not sustain current levels and looks set to blow off and trend lower. The majority of traders think the BP is going higher against the dollar, but the odds are shifting to the bears.

First lets look at the long term trend on the monthly chart and look at some important resistance.

The Monthly Chart

If you look at it you will see a triple top at the $2 level and this represents near term resistance. Now look back to 1992 and you will see resistance again at this level.

Resistance is at multi year highs and we think it will hold on a monthly basis. This resistance is major and we think the market is to bullish now for it to be penetrated in the short term.

The Weekly Chart

We have a weekly new near term high and the RSI is approaching 70. On the two previous occasions that the RSI hurdled this level (the high was 80) prices could not be sustained and the Pound traded lower.

The Daily Chart

On the daily chart just like on the monthly chart, we can see a triple top at just above the $2 level - The RSI is now in overbought territory and the previous high is exactly the same as on the weekly (80).

With multi year resistance being tested and a triple top at current levels, are there any other indicators we need to take into consideration?

The answer is yes, we need to look at the bi weekly net traders positions issued by the CFTC.

This is a great market for checking if a market is overbought.

Its a known fact that markets normally crash when speculators are most bullish and they certainly are with the last report (July 2nd) showing BP longs at record highs. The previous high in these positions saw 7.5 cent decline and due to the overbought level of the market at current levels a similar fall should occur.

The market is simply overbought and the momentum does not look to be there to push it higher.

Trading the Move

So the bears have the nod and we expect a good decline to unfold from current levels.

If you are looking to trade the short side:

Look for RSI Momentum to peak and fall and a cross of the stochastic lines with bearish divergence to give you confirmation.

Be alert from Mondays open and wait for the bears to take charge.

If you trade options:

If you are an option seller, selling premium looks a great way to take money off the speculators and if you are a buyer Look to buy at or in the money options with plenty of time to expiry.

Options are great as they will give you the staying power just in case we get one final blow off to the highs.

The above trade right or wrong, has compelling evidence supporting it and has low risk and high profit potential and you cant ask for more than that!

Good luck and good Trading.


More on becoming a profitable trader some critical FREE Trader PDF's and more FREE Forex Education visit our website at

FOREX Trading Software Programs Improve Your Trading Skills

The foreign exchange market, or Forex, is where one currency is traded for another. This market is the largest financial market in the world, averaging a daily trade exceeding $1.9 trillion. The major players in this market are large banks, central national banks, governments, currency speculators, multinational companies, and other financial institutions.

The foreign exchange market is huge, and quite complicated, with a lot of factors affecting the exchange rates between currencies. And unlike the stock market, in which having inside information can play a huge part, the foreign exchange market operates on information which is available to every participant. Analyzing this data and following the trends can be done manually, but it is an extremely detailed and difficult job, and the likelihood of missing out on some profitable trends is high.

This is where Forex trading software comes in. These programs and software were created to help humans in the task of keeping track of every piece of information that is relevant to the Forex market. That task is actually well suited for a computer, as it involves a huge volume of information to be sorted and analyzed.

These software programs can take some of the drudgery out of the process by organizing the information and displaying it in more helpful charts and graphs. They can automatically retrieve the relevant information through an Internet connection, and then depending on your settings, use particular algorithms to interpret the data. The more sophisticated of these programs would then be able to offer detailed and in-depth analyses after the processing. Simpler programs would just determine if you should trade, and if so, what.

The simpler (and thus cheaper) Forex trading programs would be good tools to start with, for a beginner. Although they would lack some advanced features, this would also mean that the beginner would be less likely to be overwhelmed. Using these programs still allows for learning, as you can observe which factors combine to give the final analysis.

More experienced Forex traders can then move on to more advanced software with more options and details to work out. These will give more detailed predictions, but would also require a bit more work on the part of the user.

Max Walker is a keen and active day trader, and recommends using FOREX Trading Software

eBay Feedback : How to Grow It and Keep Positive Feedback for Your Business

Positive feedback is vital for growing a business and good reputation on eBay, especially when building feedback to sell BUY IT NOW or open a shop on eBay. Bad feedback can be avoided, even removed, read on to learn how.

eBay Feedback is the process where buyers and sellers rate one another based on actual trading experience. If the transaction is good you can expect positive feedback from buyers and sellers. Neutral feedback indicates room for improvement; negative feedback denotes an unacceptably flawed transaction


I say usually because things dont always go according to plan. Feedback is subjective some people are more easily pleased than others, some more forgiving while some are more honest. I have seen positive feedback left by people who havent even received their product yet, and negative from others who just enjoy being cruel or havent even paid the seller. Jealousy, bad hair days, downright nastiness, all contribute to negative feedback which few sellers can avoid.

Positive feedback is vital for growing a business and good reputation on eBay, especially when building feedback to sell BUY IT NOW or open a shop on eBay. Feedback positive and negative (neutral doesnt count for % rating) is represented as a proportion of overall feedback. So the lower your feedback rating, the higher the impact negative feedback has, unlike PowerSellers with, say, 10,000 feedbacks, for whom one more negative has little or no effect.

Once feedback is given, even in the heat of the moment, it cant be changed, so a negative stays with you for life. Thats more or less what eBay says, but the reality is different. Feedback can be retracted by mutual consent (learn more via Feedback in your eBay account) and via firms like SquareTrade who mediate between members to remove negatives.

It's vitally important to understand why people leave negative feedback and take steps to avoid these most common reasons:

* Delay in sending product. Delay for some people is more than a day between paying and receiving their product, for most three or four days is acceptable. Seven days is too long. If there is a delay, be upfront about it, write to buyers, apologize and give an explanation and revised delivery date.

* Sending product badly wrapped. Pack products carefully, using bubble wrap or padded bags. It can be expensive but you are allowed to add packing charges to postal costs.

* Not sending product at all. More than three negatives for this will get you suspended or barred from eBay. Not sending a product is inexcusable and you should only list items you already have or can easily obtain.

* Item not as described. Describe items as carefully and comprehensively as possible and always include a message like: Item described to the best of our ability. Money back on all items with inadvertent listing mistakes or errors.

* Not answering emails. Often the problem isnt yours, the other person may have spam filters preventing your email getting through, often they just dont check before leaving negative feedback. An estimated one-third of emails miss their intended destination, mainly due to spam filters.

But most PayPal letters make it through spam filters and theyre rarely missed by people whove binned many of your earlier communications. Virtually everyone opens emails saying Theres money in your PayPal account. Poor communications can be solved by sending a small amount of money via PayPal with a message You have spam filters in place, contact me asap. Or similar. Be careful, remember the recipient of money usually pays PayPal a transaction fee. Not so where you partially refund someone paying you through PayPal. Do this by entering the appropriate transaction within your PayPal account, scroll down to refund, pay a small amount back. The recipient wont pay but he will get your message. Dont refund by PayPal for buyers paying you by cheque or cash. They will be charged. The exception is where you send a token amount, plus PayPal charge, to the recipient.

* Charging high postage and trying to make more money that way. You can charge extra for packing and processing but be realistic. Dont charge $10 for a package costing $3 to post and $2 for packing materials. It's unprofessional and will earn negative feedback and complaints to eBay.

* In retaliation for leaving negative feedback for other eBayers. This is the most common reason for negative feedback and something you must learn to live with. If you're honest and leave negative feedback to warn other buyers and sellers against a member you consider dishonest or untrustworthy you will get negatives. You must decide if warning others is worth the red mark!

* Just Because! You will never please them all and it isnt worth your time trying.

Getting Good, Avoiding Bad and Managing Problem Feedback

* Retaliatory negative feedback is the most worrying aspect of all for serious business eBayers who, though they know its their duty to warn other sellers about undesirable customers, are often too afraid of incurring negatives in return. I only give feedback when its already been left for me. In my listings and compliments slip I say: If you have a problem email us at myemailaddress and well sort it out right away. Otherwise, leave feedback to let us know your product has arrived in good order and we will reciprocate within 24 hours.

* Reciprocate is the important word, and if someone leaves positive feedback we normally leave the same; if they leave neutral or negative we contact them to ask why. If we consider reciprocal neutral or negative feedback is warranted, thats what they get. To my mind it is totally, totally wrong to leave neutral or negative feedback for anyone without first trying to resolve the problem. In this case our negative or neutral feedback isnt retaliatory, its simply to warn other sellers about the buyers lack of care and communications skills.

* You can pre-approve bidders, allowing you to sell purely to individuals who have no negative feedback themselves and dont leave it unnecessarily for others. You might get people to email you before bidding, you check them out, you approve or bar them from bidding. Personally, I cant see the point.

* You can cancel bids or forbid certain people from bidding. Visit eBays Feedback Forum for lots of advice and comments from seasoned sellers.

* A friendly, considerate disposition, and the ability to handle difficult people, all help avoid the Big N* which can seriously damage your business. (*Negative feedback!!!). Now let us get real, bear in mind the bigger you get, the more items you sell, the more negatives you might genuinely earn, and the more difficult people you will encounter. Be careful, considerate, communicate.

Learn from earned negative feedback, try to avoid undeserved complaints, and learn to live with whatever else happens.

Avril Harper is a triple eBay PowerSeller and editor of eBay Confidential and webmaster of She has produced a free guide - 103 POWERSELLER TIPS - which you can download with other free to distribute reports and ebooks at