Currency Trading - A Simple 1 2 3 Step Method For Huge Gains

Many traders look to buy a currency trading system and don’t realize how easy it is to build their own. Here we want to look at building a sample trading system for huge profits.

Before we look at an actual system a couple of points need to be stressed:

1. The system we are going to look at is simple

It’s a known fact that simple systems work better than complicated ones, as there are less elements to break and they are more robust.

You don’t get paid for effort in currency trading you get paid for being right.

2. Because you built it you will Have Confidence

You will understand it and this understanding leads to confidence which leads onto discipline. People who buy ready made systems don’t understand what their doing their just following and have no confidence.

Here is your simple 1 2 3 currency trading method.

>> Step 1 Methodology

You need to base it on a methodology and here we are gong to base it on simple support and resistance and a breakout methodology.

The fact is most big currency moves start from new market highs NOT market lows so were going to look at buying breaks of these. All you need to do is look at valid resistance or support and trade the breakout.

Very Important!

You want the odds on your side so be very selective of the breakouts you trade - trade only ones that are valid and considered important by the market.

You don’t get paid for how often you trade in forex you get paid for being right.

Have patience and only trade the high odds trades and you will increase you chances of winning dramatically.

>> Step 2 Confirm - Confirm - Confirm

Now breakouts don’t always carry on so how do you spot the ones that do - you confirm them.

If you don’t know anything about price momentum you should learn.

Once a break occurs you need it to make sure momentum oscillators confirm the break.

You can look up several good ones on the net or in our other articles and a couple of good ones are the RSI and stochastic - check them out and use them to confirm every trade.

>> Step 3 Stops and Money Management

If you trade stops the stop is behind the break and you should hold it their until the trade is well under way.

You’re not looking for small moves so don’t trail your stop up to soon.

When you trail your stop do so behind key moving averages or support way behind the noise of the market i.e. the short term volatility.

How much should you risk per trade?

We would say 10 -20% - hang you might say most traders tell me only 2%. Well you can - but if you are a small trader i.e. $10,000 or less account that’s $200 and if you don’t risk much you wont make much - PERIOD

You’re trading high odds trades so only trade one at a time and hit them hard.

Don’t be tempted to diversify that’s just another word for diluting profits. If you have a high odds trade focus on it.

So there you have a simple system for profit - its easy to understand easy to build and easy to apply.

All the best Currency trading systems are simple robust, easy to understand and apply and generate high odds trades and the above one will help you enjoy currency trading success.

Tips for Opening a Online Forex Trading Account

Forex exchanges serve as one of the best investment avenues. There are several forex market experts who get incredible returns on their investment and that too within a short span of time. The amateurs, on the other hand, badly lag behind. They not only feel scared investing capital in the forex market, but also lack the expertise to trade in the currency. It is here that the online forex experts come to their rescue and help them earn good amount of profits. There are many merchants who’ll lure you to sign up a forex trading account with them. Unfortunately, not all of them are authentic. Almost every forex trading service provider makes big claims, which are more often left unfulfilled. Therefore, it is of utmost importance to do an adequate homework and then go about finalizing the merchant whose services you would like to avail.

Choose a merchant who enjoys a sound credibility in the market. It takes years to build a reputation and no merchant can afford to indulge in unethical practices that can spoil his/her name, leading to a heavy loss of profits. Prefer going in for a well established merchant who can be depended upon for providing the requisite services. In the forex market, ACM is one name that you can truly rely on. Our forex market experts possess the best of knowledge of the industry and nothing can beat their expertise. They can be approached at any point of time from any corner of the world. They are there to serve you round the clock.

We at www.ac-markets.com attempt to provide complete protection to our customers. We aim to minimize their losses by reducing the risk involved. We specialize in online forex trading services and offer our customers with the benefit of carrying out on the spot silver and gold trading. We look into the case of each individual and devote adequate time and attention to find out the best trading policy for them. Our automated trading system is highly secure. There are varied kinds of user guides and trading platforms that are absolutely user friendly. Everything is taught step by step so that there is no scope for making mistakes. The ACM experts strive hard to help you climb the ladder of success and earn fortune.

Nepal's forex reserve hits 2.61 bln USD

Nepal's foreign currency reserve has scaled up to 171.56 billion Nepali rupees (around 2.61 billion U.S. dollars), local newspaper The Kathmandu Post reported Saturday. Remittance stood at 72.39 billion Nepali rupees during the first nine months of the current fiscal year and the amount was 3 percent more than the same period last year.

According to Nepal Rastra Bank (NRB), the central bank, the amount however is less than 177.94 billion Nepali rupees recorded a month ago mainly due to the 4.44 percent appreciation of Nepalese currency against the U.S. dollar within a month. The official exchange rate in mid-April was one U.S. dollar against 68.40 Nepali rupees and the rate slipped to 65.46 Nepali rupees within a month. According to a NRB official, the accumulative appreciation of the domestic currency against the U.S. dollar has scaled up to 13. 26 percent within the current fiscal year, starting in mid-July.

U.S. dollar stood at 96.5 percent of the total foreign currency reserve while the remaining was Indian currency. The NRB had held almost 79 percent of the total foreign currency reserve while the commercial banks had kept the remaining till mid-May 2007.