Many people today feel like they don’t have enough money in their lives. These days having only one stream of income isn’t enough. People are always looking for more. Life is getting expensive. People want to be able to go out and do what they want, take vacations, have fun, and in general enjoy life. The problem is that they usually don’t have enough money or time to enjoy these things. This is where E-Currency Trading comes in.

Finding the solution to this problem is not easy. Most people fail when they start their own business. Most people will never see the light when it comes to building a successful online business. It’s just not something that can be done, it takes money, time and a lot of effort to put together something that will work and bring you profits all the time.

What most people don’t realize though is that it is possible to find a profitable business. You too can have a business online that generates a lot of income for you every month. And with the right knowledge you can manage it and make it very successful without you sacrificing your entire life in return for money. You could someday say “no more living hard, barbeques everyday, do what you want any day”

Living your dreams is what life is all about. Having a lot of money is one of the main keys to living the reality you want. The moment you own a successful business your life becomes much better in term of quality. One business opportunity that has constantly reported to change people lives is E-Currency Trading. The success ratio in this business is so high mainly because it’s so easy to do, requires very little time, and you can get started with as little as a couple hundred dollars. This combined with the fact that you don’t really need any special skills, it’s what is making such a hot opportunity on the online world.

If you’ve been having a hard time keeping up with your bills, you feel like you want more money, or you feel you need to grab a hold of your life, then I recommend checking out E-Currency Trading.

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What if the average American could not invest in the stock market or buy mutual funds? What if only the wealthy could do this? Well, as more and more regulations are put on the financial investment industry and more and more minority shareholder lawsuits abound, we may see a time when the little guy gets shut out.

In fact many financial planners will not take to anyone who has less than 500,000 dollars to invest. Why? Well they feel it is not worth their time and with all the regulations in the financial planner industry, well, it I really isn’t and it is not worth the risk that they might lose their license as the SEC is quick to launch an investigation over any little complaint whether legitimate or not?

What can the little guy do? Well you can go down to Merrill Lynch and open up a brokerage account where some young stockbroker will read the latest stock picks on a 3 X 5 index card and tell you where your money should go, while they churn the ever-living-crap out of your account?

Why is this happening? Well, the SEC has it in for the little guy, as every 6-8 days they make another rule, causing more paper work and costs to little financial planners and Broker/Dealers forcing them to adjust their business model or quit business.

This means they cannot make money taking on small accounts under 500,000 and therefore, the little guys gets to go to the wire houses to get bent over; so my question to you is how do you like your SEC now? Think on it.

Lance Winslow

Fifty years ago, uranium fever hit Wall Street. It was then just a few years after a Navajo shepherd in New Mexico, by the name of Paddy Martinez, discovered “yellow rocks” on his property, mistaking them at first for gold. An avalanche of 1950s dollars (more valuable than the ones we have today) poured into mutual funds and uranium mining stocks, sending their values to astronomical levels. Get ready for déjà vu all over again, as Yogi Berra once said. Trend spotter, James Dines, editor of The Dines Letter, believes uranium mining stocks could become just as hot, or hotter, than the Internet stocks of the 1990s. (Editor’s note: StockInterview.com interviewed James Dines on July 20, 2004, when he forecast a “buying panic in uranium.” Since then, spot uranium (U3 08) prices have nearly doubled. Over the past 35 years, Dines has successfully predicted mega trends in gold, internet, palladium and uranium price movements). And now investors are chasing uranium mining stocks again.

A look at industry leader, Cameco (NYSE: CCJ), which money manager Robert Mitchell called the “Saudi Arabia of uranium,” shows a three-year gain of more than 700 percent. Over the past few years, Australian-traded Paladin Resources, skyrocketed from under a dime to over $2/share (A$). A recent Forbes magazine cover story, entitled Going Nuclear, analyzed uranium’s recent price surge, “One reason the price of uranium should keep escalating is that producers are only starting to ramp up to meet the strong demand. Utilities globally need 180 million pounds of uranium annually, but at this point a mere 108 million pounds are coming out of the ground.”

Why the sudden jump? A Morgan Stanley institutional report, published in December 2004, explained that through the 1990s, uranium oxide prices stayed low because surplus uranium came into the market from weapons decommissioning. That surplus inventory worked its way through the market. The Morgan Stanley analyst forecast a “deep supply-side shortage” of uranium, citing that new mining production hasn’t yet come online to remedy the deficit. In the year-ago forecast, the uranium deficit was expected to grow to nearly 20 million pounds this year (from a surplus of 6 million pounds in 2003), and then leap to a peak deficit of more than 35 million pounds in 2006. Deficits in excess of 30 million pounds were also anticipated for 2007 and 2008. According to the Morgan Stanley analyst, $50/pound may be possible in the spot price for uranium oxide, known in the trade as “yellowcake.”

Mining Newsletters Favor Strathmore Minerals

What’s that mean for uranium stocks? Higher prices should be anticipated as more investors, mutual funds and hedge funds search out the best returns. While the lion’s share of investment dollars is likely to chase Cameco’s price higher, the robust percentage gains in that stock may have already peaked. Generally, new money searches for well-capitalized junior mining stocks with solid uranium projects in their portfolio. One of those most frequently recommended among mining newsletter writers is Strathmore Minerals Corp, trading on the Toronto Venture Exchange (ticker symbol STM.V). Prominent among Strathmore’s projects are in-situ leach mining operations proposed for Wyoming and New Mexico, plus an aggressive exploration program in the world’s richest uranium areas, Saskatchewan’s Athabasca Basin (home to uranium mining giant, Cameco).

In September, letter writer Lawrence Roulston of Resource Opportunities recommended Canadian-based Strathmore Minerals (TSX-V: STM), writing, “The company is systematically adding value to the projects most likely to be significant in the near term, especially those with near-term production potential.” Also in September, Resource World contributing editor, Alf Stewart, wrote, “The two deposits Strathmore is developing were ‘cherry picked’ from the inventory of Kerr McGee, largest private explorer of uranium prior to that industry grinding to a halt in the early 1980s. As these properties are largely drilled off, Strathmore may be considered more of a uranium development company than an explorer.” This past June, money manager Adrian Day recommended uranium stocks in his research report, writing, “So I am focusing on four main areas in uranium, with one or two buys in each… top exploration companies that have the goods and are likely to bring properties into production. Strathmore Minerals, with technically strong management, lots of properties, and a strong balance sheet, is arguably the best.”

New Uranium Discovery in the Athabasca Basin?

Here’s one of the stronger reasons why investors might anticipate a strong rally in Strathmore’s share price over the coming twelve months: In a November 16th news release (http://biz.yahoo.com/bw/051116/20051116005591.html?.v=1), Strathmore Minerals announced a discrete conductor, more than 30 miles long, after completing an airborne geophysical survey on the company’s Davy Lake property, in the north central portion of the Athabasca Basin. According to the company’s news release, “The conductor’s profile response indicates a deep and in places, broad source.”

Virtually all the significant unconformity uranium deposits known in the Athabasca Basin are directly associated with fault structures associated with graphitic conductors. Deposits such as Key Lake, Cigar Lake and McArthur River were found by drilling electromagnetic conductors located within magnetic lows.

In an interview with Jody Dahrouge, of Edmonton-based Dahrouge Geological Consulting Ltd, he told StockInterview.com, “Early indications are that this conductor is similar with other known uranium deposits, graphitic conductors with magnetic lows.” On a scale of one to ten, Dahrouge rated the Davy Lake conductor a ten. “It is a long conductor, cut by structures, with deep depth and associated by a late fault,” explained Dahrouge. “It is a high quality conductor that continues to depth, and it is typical of those occurring that are associated with known uranium deposits.” Dahrouge described how the MegaTem II airborne geophysical survey was able to pinpoint the conductor as shallow as 600 meters and running deep to 1200 meters. Dahrouge made comparisons to other uranium deposits in the Athabasca Basin. “The Sue Deposit near McLean Lake is associated with an electromagnetic conductor that is approximately 2.6 kilometers long,” he said. “Based on our work at Waterbury Lake, we identified an 8 kilometers long conductor associated with the Midwest Deposit(s). The ‘P2′ conductor at McArthur River is approximately 13 kilometers long. This feature was first identified in 1984, by a ground Deep EM Survey. The Shea Creek deposits, located south of Cluff Lake, are associated with an approximately 25 kilometers long conductor, known as the Saskatoon Lake Conductor.” Dahrouge added, “These deposits are located at depths similar to what we expect at Davy Lake.”

What is probably most significant is Strathmore’s gamble, by exploring away from the eastern parts of the Athabasca Basin, some 300 kilometers from the eastern Athabasca Basin, where the major discoveries have been made. “It was virtually unexplored,” Dahrouge said with excitement in his voice. “It’s really virgin ground.” While there is ample evidence suggesting multiple uranium deposits in the Athabasca Basin, other junior exploration companies are looking at the shallow parts of the eastern basin, which may not likely yield economic uranium ore. One pundit acidly questioned some of the current exploration activity in the Athabasca region, “Are they really re-flying old ground that’s already been flown a hundred times, or are they just releasing old data to save money?” Dahrouge pointed out that the uranium appears to be running deeper for many of the newer discoveries, as he believes the Davy Lake property might hold true for Strathmore Minerals in the north central part of the Athabasca Basin.

Important features in many Athabascan uranium deposits are the cross-cutting fault zones. Dahrouge confirmed the Davy Lake conductor has cross-cutting fault zones with a sinistral (left-sided) fault about halfway along its length. According to Dahrouge, there is also a “conductor extension which crosses the fault from west to east and ‘flows’ out into a small, sub-circular magnetic low.” As with many of the Athabascan uranium deposits, which tend to be found between overlying sedimentary units and underlying basement rocks, the Davy Lake conductor fits the bill. Strathmore Mineral’s president, David Miller, told StockInterview.com, “the 50-plus kilometer geophysical anomaly appears to indicate a basement conductor.” However, Mr. Miller tempered the exhilaration in the air, “A geophysical anomaly does not make an ore body. These exciting initial results will be followed up with infill geophysical lines, followed by ground geophysics, followed by shallow drilling, looking for alteration. When we have narrowed the target to drill, we will pull in the big rigs and test the conductor at the unconformity.” Dahrouge remains excited about the Davy Lake conductor, and said, “Clearly this represents an excellent exploration target for unconformity type uranium deposits.

What does all that mean? It could explain why Strathmore Minerals might well be on the road to a world-class uranium discovery as further exploration more clearly defines how valuable those newly discovered conductors might become. Meanwhile, Strathmore’s New Mexico and Wyoming properties (amounting to potentially several million pounds of uranium resource) are in the preparatory phase of the permitting process. As the spot uranium price inches forward to the widely accepted short-term target above $40/pound, several of Strathmore Mineral’s properties may become instantly more valuable to a utility company who will someday need the company’s uranium oxide to fuel their nuclear reactor.

James Finch regularly contributes to StockInterview.com, which can be visited at http://www.stockinterview.com. Mr. Finch does not hold equity positions in the companies he features in his column.

1. 3 stages of Trading Life Cycle

Survival – Learn to survive in the market. Trading is never easy, if you have to pay for your mistakes, make sure it is an affordable mistake and that it will not wipe you out of the game. Trading is a lifelong game. Money is your oxygen, if you lose it; you are out of the game.

Profits – Once you can survive in the market, you will notice you have the ability to make small profits from time to time. Reinvest and see how your account grows in this stage.

Massive Profits – This final stage comes when you can take bigger positions in the market. As your trading account grew in the “Profits” stage, you will be able to take position of bigger size and hence your profits will be more. Also, this is when you will be able to spot and sit on big runners consistently.

Passing through each stage requires patience. If you are too hurried, just like speeding, it will kill you.

2. Money management , Trading System , Manage your emotions

Every trader must know these 3 critical success factors in trading.

Money Management
Money to us is what oxygen is to a diver. He must know how to use it wisely in order to last a diving trip. Just like in the stock market. You must pace yourself and manage your losses wisely. Always know how much you can afford to lose. A sound money management rule is to enable you to trade even if you suffer multiple trading losses.

Trading System
No matter what technical indicator you use, make sure you have a cut loss and a profit taking target. A sound system will also include a sensible risk and reward factor. Reward should always be more than the risk you are taking. Also, the trading system that you use should be personalized to your lifestyle and personality.

Manage Your Emotions
There will always be hope, greed and fear. Many hope that their stocks will move further north or rebound from a decline even though the charts tell a different story. When a sell signal occurs, they are greedy for more profits and choose to ignore the signal. After many losses, they are fearful to buy when their trading system tells them there is a strong buy signal and thus they miss a stock! After the stock moves, they got greedy and jumped in. Stock declines and they hope it will rebound for them to get out. This is what we always call emotional trading. Learn to keep them under control and do not base any of your trading decisions on them.

3. Disciplined Cut Loss

While we dare to buy when there is a buy signal, not many people are willing to take losses when there is a sell signal. This is human nature, when it comes to pocketing profits, everyone did it very fast! When it comes to losing something, everyone will be hesitant. It is high time you start to think differently.

4. Exercising patience

There are times to buy, time to hold and not do anything and there is time to sell. These are the 3 things that we can do in the stock market. It is when the time where we shouldn’t do anything that requires us to practice patience. When I miss a trading chance, I tell myself, patience, if I chase after the stock, the risk is not worth the reward. There will always be another opportunity. Stock market will still be around even after I die! Stock market is a marathon and is not a short sprint (quick buck). Those who tried to go for quick bucks without giving themselves enough time to understand trading often gets killed.

5. Always consider Risk/Reward in every trade

Before you put in a trade, make sure you have a sensible risk/reward factor working for you. This risk/reward is defined as a small loss when I’m wrong and a big profit when I’m right.

6. Have a plan, Stick to your plan

When you put on a trade, make sure you have defined a cut loss price and a profit target. Just like a flight path, there is a take off and a destination. Trade without a plan is like flying towards the Ocean hoping to see land. You will crash if you run out of fuel (money) or you met a storm (Sudden sell down due to crisis).

7. Look at both weekly and daily charts

Weekly chart shows the longer term trend and daily chart shows the “noise” or volatility. While we may find entries on daily chart, it is often important to look at the weekly chart for an idea of the “real” trend. It’s like looking at the bigger picture.

8. The longer time frame for the support or resistance the better

A support not broken for a few weeks or months is stronger than the support of a few days. This is especially true if the support of the longer term is tested and not broken. The same goes for resistance.

9. Never make decision during intra day unless unusual volume or news

I will never make decision during intraday. As mentioned earlier, a plan has to be formularized before putting on a trade. It is advisable to follow the plan and not be affected by the “noise” during intraday. Unless there is a sudden spike in volume which usually means something is brewing. Or there is some news about the stock.

10. Focus on market leader stocks and the sector in play.

Very often, the biggest gains are the stocks that are in play or from the sector in play. Pay attention to the top volume everyday and watch what group of stocks keeps hogging the list. You should be able to smell the play of the day or week. After that, look at the top stocks in this sector.

11. Livermore’s probing method

When a stock breakout at 0.300, I will buy 50% of what I intend to buy at 0.300. After that if it continues to 0.305, I will buy the remainder 50%. This helps to minimize loss if the breakout is false alarm.

12. Symptom of a Stock Market Crash

If everyone is talking about stocks especially people you know who were never in the stock market, it will mean everyone has invested and there will be no new buying to sustain a bull market. The same goes for bear market, if everyone has sold and got out of the market, there are no more selling to sustain the downward momentum.

13. Know what you want, trading or investing

This is the same as rule 6. Many a time, I see people who got into a position with the intention for a quick buck end up becoming a forced investor. Their stocks declined instead of incline as anticipated and they sat on paper losses telling themselves it is a great company and soon the price will rebound. If you want to trade, make sure you follow your plan. Same for investing, if you are an investor, do not be bothered about the daily volatility. Business fundamentals do not change as sudden as the chart changes. But it will be a shame on you if you refuse to cut loss if the fundamentals have changed.

14. Understand relationship between price actions and volume

When looking at charts, be sure to count the number of up days on heavy volume and vice versa for down days. It is helpful to read at past price and volume relationship to form an anticipation of what will happen next. Price and volume tells consolidation and distribution.

15. Beware of 1 day volume spike of more than 50% forming the shooting star

If the stock price touches a high during intra day but closes near or at its low of the day with high volume of more than 50% of average volume, time to get that parachute in your hands.

16. Buying at break out from resistance or buying near support

You should only buy at 2 locations on the chart. Firstly you can buy if the stock breaks out from the resistance. Lastly you can buy very near to support. If you buy between support and resistance, you will be squeezed.

17. Chart formation cup & handle, double bottom, triangles, box range

Chart formations show the consolidation and distribution of a stock. Always look for the shapes and pattern on the chart when analyzing.

18. Psychology of stocks breaking new highs (A reason why blueline theory works!)
Holders missed the chance to sell high. Price retraced and they hold on to it waiting for the next high. When price reached the high, these holders sell. It flushed out all these stale holders thus creating a clear road for more upside.

19. Go through past trades to review mistakes

Looking at past trades enable you to know your mistakes. It is highly important that you should avoid the same costly mistakes from happening. It also gives you the ability to spot the danger signs on a chart quickly as you get familiar with them. The same goes for remembering what you did right hence you will be very familiar with charts that are gold mine!

This list will certainly grow longer as I continue my trading journey. But it is by far the most useful rules that enable me to crawl back to the black from a negative trading account. Remember, rules are simple to create but not many people have the discipline to follow. To be successful, you must have that discipline.

You can join me at my blog at http://growmoney.blogspot.com daily to understand how I apply these rules to my trading. See you there!

http://growmoney.blogspot.com/
The Art Of Growing Money

If you have money to invest, you might contemplate investing in mutual fund. What is mutual fund? Mutual fund is simply a collection of stocks that are bought using money pooled from various individual investors. Historically, average mutual fund returns 2% less annually than a stock market index.

While the return is less than stellar, there are several advantages of investing in mutual fund. They provide diversification, economies of scale and liquidity. So, the question you want to ask yourself is whether you want to have a smaller return for the advantages mentioned previously.

While two percent difference looks small, it is not pocket change. Investors who set aside $ 1 a day, would have $ 562,000 of savings in fifty years if he invests in stock index fund growing at 10.5% per annum. The same investors would collect ‘only’ $ 271,000 if he invests in average mutual fund that grow at 8.5% per annum.

There are also disadvantages investing in mutual funds. There is a problem on how to choose the ‘right’ mutual fund. If average mutual fund returns 8.5% annually, the below-average fund will give you less than that. Just like picking a stock, you would find some stocks that outperform the average and other stocks that do not perform well.

The next question would be if we investors can do better than stock market index fund of 10.5%? A lot of people believe they can. But, the path ahead is full of obstacles. First, you need to get educated about stocks in general and how to calculate the fair value of a common stock. Next, you need to open a brokerage account to execute your buy and sell order. Finally, you need to keep abreast of new developments. Business comes and goes. Industry rises and falls. Examples of industry that used to dominate are: typewriters, cassette players, sewing machine and traditional camera. If you don’t read often, you may predict that certain stock has a high fair value even when the entire industry is collapsing.

It all comes down to individual investors. Would they want to learn more and get a few more percentage return each year? Or would they let someone else manage their money? Me, I prefer to learn how to manage my own investment. Sure, it is time consuming. But giving a little bit of your time may give you the potential to double your retirement money in fifty years. The potential is rewarding and someday you might even manage someone else’s money.

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This is a good question that I have thought a lot about over the years.

When I first began trading, a fairly substantial percentage of futures contracts actually ended up in a delivery–certainly more than we see today. Today only 3% of contracts result in delivery.

The economic and social justification for the futures markets is to provide a venue in which producers and users can hedge against excessive fluctuations in price. With hedging as its justification, speculation in futures serves as a way of providing liquidity, efficiency, and price discovery. The speculator serves as the person who is willing to take the risk the hedger wants to avoid. Without that justification, trading futures is nothing more than outright speculation.

However, it is difficult to see how trading a 1, 3, or 5-minute chart meets the criteria for providing liquidity and price discovery for the hedger. Does a producer or consumer need to hedge for only 1 minute? It is hard to argue, on the basis of short-term intraday trading, that anyone is actually providing a social or economic benefit of any kind.

Whereas with longer-term trading it is easy to see the social and economic benefits provided by the speculator, it is virtually impossible to see that such benefits are derived from short-term trading. That renders day trading to be nothing more than speculating. To that extent, the futures markets may have become giant gambling casinos.

That raises a question: What is the difference between the gambler and the speculator?

True speculation is based on taking advantage of the realities of the market. Gambling is an attempt at trying one’s luck.

The true speculator is willing to accept the risk of price fluctuation in return for the greater leverage that comes with that risk, in the hopes of earning a greater profit. The true speculator makes his trading decisions based on knowledge gathered from information about the behavior of the underlying, seasonality, historical and current trends, chart analysis, fundamentals, the market dynamics, and knowledge of those who trade it. But what about the gambler, how does he make his decisions?

The gambler makes his trading decisions on gut feelings, hopes, dreams of getting rich quick, tips from the broker, “inside information” from friends, and from the improper understanding and use of indicators, oscillators, moving averages, and mechanical trading systems. In general, he is looking for a way to shortcut having to truly learn what is going on. Unfortunately, most people who attempt to trade fall into this category. Many wannabe traders are gambling and they don’t even realize it. Anyone who attempts to trade without essential knowledge of what the markets are all about, and how they truly function, is gambling.

There is one more aspect to this subject. It has to do with morality. I am often asked if trading goes against the teachings of the Bible. Is it a sin to trade? Is it a sin to speculate in the markets? I have been asked this question numerous times even by church pastors. My friend Kent Calhoun said it this way: “You did not pay to be born. Life is a gift that was freely given to you. The ways in which you repay God for your life is by using your natural talents to the best of your ability, and constantly creating positive change in your life and the lives of others. This quest fulfills the meaning of life, to make the world a better place because you were here. What are your talents and abilities? What is the most important goal in your life? How do you exercise your talent on a regular basis to achieve that goal? How are you creating positive changes in your life and the lives of others? What is the legacy you will leave behind to show mankind that you ever existed? May God bless you and your efforts to become the best person and the most consistently profitable trader you possibly can!”

In my own life, I use my trading to support my prison ministry, mission work, and my local church. I believe that produces both economic and social benefits to the world in which I live.

Joe Ross
Trading Educators Inc

Joe Ross has been trading for more than 47 years, and is a well known Master Trader. He has survived all the up and downs of the markets because of his adaptable trading style, using a low-risk approach that produces consistent profits.

Joe is the creator of the Ross hook, and has set new standards for low-risk trading with his concept of “The Law of Charts™.” Joe was a private trader for most of his life. In the mid 80′s he shift his focus and decided to share his knowledge. After his recovery, he founded Trading Educators in 1988 to teach aspiring traders how to make profits using his trading approach. He has written 12 major books on trading. All of them have become classics and have been translated into many different languages.

Joe holds a Bachelor of Science degree in Business Administration from the University of California at Los Angeles. He did his Masters work in Computer Sciences at the George Washington University extension in Norfolk, VA. Joe still tutors, teaches, writes, and trades regularly. Joe is still an active and integral part of Trading Educators.

A lot of investors may wonder if they should have invested in stocks or bonds or both. Both investment vehicles have their own merit in the investment world. However, the best investment choice depends on your investment horizon and your risk tolerance.

Bond is a certificate of debt issued by governments or corporations which will be repaid later at maturity. Bond investors get steady stream of interest while the principal will be paid at maturity. Currently, the ten year treasury bond yield 4.48 %. This guarantees investors that held the bond to maturity, an annual 4.48 % return on investment assuming a default risk of 0. Since treasury bond is backed by the United States government, it is safe to say that the default risk is nil. Treasury bond price fluctuates daily. But the potential capital gain from the price change is fairly minimal. As of Tuesday December 6th 2005, the 10 year treasury bond is priced at around par value of $ 100. Therefore, the investors’ main return on investment is through the interest payment of the bond.

When investing in common stock, investors may be rewarded with either dividend payment or capital appreciation or both. Mainly, investors are aiming for capital appreciation profit when they invest in stocks. Historically, stock market indices has returned 10.5% since world war II. Stock investors may be exposed to a lot of risk due to the price volatility. When the company is doing poorly, investors may lose half or all of his principal. Bond investors do not have this problem if the debt issuer still survives.

In my opinion, investors are well served investing in stocks if they will not use the savings for more than five years. The reason is simple. Common stock gives a much larger return than bond. Investing in bond merely get you even with inflation. Some common stock can even give you that kind of return from dividend alone. If stock investors properly calculated the fair value of the common stock, the short-term volatility of stock will not matter. In the long run, stock will be traded close to their fair value.

There is no need for investors with five year investing horizon to avoid common stocks. While investing in treasury bond is theoretically safe, its return barely match inflation. In other words, investing in treasury bond will not make us richer.

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There are many trading systems and strategies out there. There are many free ones printed in trading articles, journals, books and on trading-related websites. You can buy them as software or you can subscribe to them periodically.

Novice traders say they do not have the time, the aptitude, the talent nor the brains to work out how to trade properly. They would rather purchase a program or subscribe to a trading system for hundreds – or in some cases – thousands of dollars. They say they do not have to do anything except be told what to buy, when to buy and how much of it you need to buy. Some ask me if this strategy or approach is advisable for trading the financial markets. To answer this question, I am then forced to consider the advantages and disadvantages of using such an approach to trading.

There are reasons why a trader would use a system or strategy that someone else developed and tested:

1. It is easy. A novice trader does not need to study how the market works and how he interacts with that market. He does not need to educate himself: he does not need to bother with books and seminars. He does not need to test the system, since the seller has already done that for him and reported promising hypothetical or actual results.

2. A novice trader hopes to get a trading system at a ‘bargain’ price… sometimes even for free.

Hazards of trading a system or strategy developed and tested by someone else are the following:

1. Faulty Systems

There are many faulty systems out there. They may be faulty because their assumptions and their mechanisms may no longer be true, accurate or valid. As a novice trader, how can you distinguish between the good systems and the bad systems if you don’t know how trading systems are built?

2. Discipline and confidence

All systems have drawdown periods. Some good systems may not make money for six months or an entire year. Even if it was a good system, can you continue to follow it even if it gives you a loss after a loss after a loss? How can you follow it if you do not have confidence in it? How can you be confident if you do not know the ins and outs of the system and if you have not tested it yourself?

I do not believe that people would blindly follow a system even if they were told that it would bring them riches. I can give someone a trading system, I can supply him with exceptional hypothetical or actual results and still, he would not be able to follow it.

I remember giving my dad a fully-mechanical trading system I developed. I told him a few simple rules and I told him not to question them. All he had to do was to follow them. We both traded it for two months, I grew my small account by roughly 50% (it happened to be a good two months), but he was losing. He wondered why. I asked to see his trading records. When I looked at his trading records, I found that he kept disobeying the rules. When I asked him why he disobeyed them, he wanted to improve the results after it had a couple of losing trades. He was trying to improve the results. According to him, the system asked him to do what he thought was not right during certain market conditions, so he did not follow it.

I found simple errors too, including opening trades at market price instead of waiting for buy and sell stop orders at support and resistance levels to get triggered. I also asked that he executes trades at the close, but oftentimes he traded two hours before or after the close at his discretion. There were many more rules he breached. He is a smart man: a former civil engineer and now a manager for a big organisation. Why could he not follow instructions? It is simple. He did not know the reasons behind the rules I had set and so he did not appreciate them. His money was on the line and after a series of losses, he lost faith in the system easier than I did because he did not develop and test it himself.

To overcome the hazards above, I see no way except for a trader to learn how to develop his own trading methodology. This is the only way a trader can know if a particular system or strategy is good or not.

Once a trader learns how to develop systems and strategies, he can then be better equipped to test them as well. By this point he might even find that he is better off using the system he created, because it becomes increasingly difficult to find another system more suited to his profit objectives while operating within his risk tolerance levels. It is likely that once he develops this level of competence, he will simply acquire other systems only to dissect them, grab the parts he likes and add them to his own system. To me, the irony is that for a trader to know which system to purchase, he must first learn how to create a system. And after knowing how to create a system, he will no longer have the need to buy one.

In conclusion then, I would have to say that if you are not inclined to learn how to develop your own trading methodology, then perhaps you should consider giving your money for someone else to invest. Give it to someone who is trading a system that he developed and tested himself because he is more likely to have the confidence and courage to follow his own set of rules.

Please include the paragraph below if you are republishing this article online or in print.

Marquez Comelab is the author of the book titled: The Part-Time Currency Trader, a book for novice and intermediate traders. It shows how anybody can develop their own trading methodology to trade the currency (forex) market. See: http://www.marquezcomelab.com.

Candlestick charting is great for traders wanting an extra edge in their quest for profits – this is due to the way the candle bodies are drawn, that gives a better insight that is visual, and shows trader psychology.

More traders than ever are using candlestick charts due to the extra trading edge they can get with this form of charting – if you have not used them before, then this article is for you.

Candlestick charts are not new, and have been used for hundreds of years by Japanese traders to predict and act on market movements.

Candlestick charting giving greater insight into human psychology

In the 1700′s, Homma, a Japanese trader in rice, noticed how the price of rice was influenced by human psychology as much as the supply and demand situation. Homma used candlestick charts to trade rice and amassed a huge fortune in the markets. In fact, it was rumored he never to have had a single losing trade!

Human psychology has never changed, and has remained constant over time – candlestick charting is therefore just as useful today, as it was hundreds of years ago.

The Re-emergence of Candlestick Charting

Steve Nison, book, “Japanese charting techniques,” bought candlestick charting back into the public domain in the 1990s. Currency traders soon started using candlestick charting instead of bar charts for greater insight into market movements.

So why use Candlestick Charts?

1. They complement other Technical Tools

You can use candlestick charts as you would use the common bar chart, and you can combine them with traditional market indicators. Candlestick charts are a great way to spot opportunities, and then filter, and time trades with other indicators.

2. Spotting trend changes

Because of the way candlestick charts are viewed, they can give warnings of market reversals, far more visually than traditional bar charts.

If you look at candlestick charting, the human psychology of the move literally jumps out the page at you.

3. Straightforward to use

Candlestick charts use, the same open, high, low and close data that traditional bar charts use, and are easy to draw.

In addition, there are many packages like supercharts and tradestation that will draw them automatically for traders.

The different candle names are also easy to remember.

4. Define market momentums

The way the candlestick chart is drawn not only gives the direction of price, but also the momentum behind the move.

The candlestick chart graphically illustrates the relationship behind the open, high, low, and close by the body – and adds an extra visual edge, due to the way they are drawn.

The candlestick has a wide part, called the “real body.” This real body represents the range between the open and close of that day’s trading.

When filled in black, the real body means the close was lower than the open.

If the real body is empty, it means the opposite – the close was higher than the open.

Above and below the real body we see the “shadows.” We see these as the wicks of the candle (which give them their name), and the shadows actually show the high and the low of the day’s trading.

If the upper shadow on the filled-in body is short, it indicates that the open that day was closer to the high of the day. On the other hand, a short upper shadow on a white, or unfilled body shows the close was near the high.

A Visual Aid to Give You an Edge

Candlestick charts should be used rather than traditional bar charts because they give you an extra visual dimension.

Regardless, of whether you are a day trader, position trader, system trader or a trader who likes to make your own trades, there is really nothing to dislike about candlestick charts!

Easy and fun to use, and providing a greater insight into market moves, along with the ability to use in any type of trading, means if you aren’t already using candlestick charting, then its time to start.

New! A valuable FREE Currency Trader CD containing 9 critical trading reports, tips, strategies and candlestick charting. Visit our web site now and grab your CD http://www.tradercurrencies.com

Information about the stock market and stocks are everywhere. Unfortunately, it isn’t really easy for the average person to understand. It is best to have a professional handle your stocks if you are going to seriously get involved in buying, trading and selling, but it is also important that you have some basic knowledge of your own.

Stocks are pieces of a companies net worth that you buy. When the companies net worth grows so does the price and worth of your stock and visa versa when the companies net worth decreases. Companies usually sell stocks to gain capital (money). It is a easy, risk free way for them to raise money. When you own stock in a company you own a piece of that company.

Buying stock can be difficult. That is why most people go through a stock broker. There are a few different kind of brokers and their names can give you idea of how much they will charge you : full service brokers, discount brokers, and deep-discount brokers. Some brokers will look at past performance to decide if it is worth buying a companies stock. Other brokers will look at how the company has grown over a period of time. The Securities and Exchange Commission (SEC) makes the rules and governs over the stock market.

Here are three simple tips to help you make the most out of your stock market experience.
– Keep stocks that are making money.
– Dump stocks that are losing money.
– Look for companies with good CEO’s.

Once you decide on your broker and what stock you are going to buy, keep up=to-date on how your stock is doing by watching stock returns on TV or reading them in the paper. Keep alert about your investment and you should do all right.

The Stock Market article was written by Craig Dawber, The infomation found in this website can without doubt can help with starting in the stock market check it out http://stockmarketpages.info.

Currency markets never sleep and several trillions dollars are traded everyday, making currencies the world’s biggest and most exciting investment market.

In recent years, mechanical currency trading systems, using technical analysis to predict trend movements have become increasingly popular as a way of locking into, and profiting from the longer term currency trends.

Making Money from the Longer Term Trends

Currency trading systems are ideal for making profits from longer-term currency trends, and they occur in all currencies.
The longer-term trends in FOREX markets reflect the health of the economy.

As economic cycles are relatively long and take years, so do the currency trends that reflect these cycles.

A good currency trading system can enable traders to lock into, and make profits from these longer-term trends.

When choosing currencies to trade, it is important to have good long-term trends, but just as important is liquidity, which enables traders to lock in profits and exit losing trades quickly.

Currencies that offer good trends and liquidity include:

· The US Dollar

· Swiss Franc

· Euro

· Japanese Yen

· British Pound.

Currency trading systems remove emotions from trading, which is the major reason the majority of traders end up losing.

Removing the Emotion from Trading with Systems

There has been plenty of material written about using currency trading systems, and the works below provides informative reading for anyone thinking of using a currency trading system.

Traders should try to read the following authors:

Edwin Lefeurve, Jake Bernstein, Larry Williams, Ken Roberts, Van Tharpe and Jack Shwager whose books “Market Wizards” and “The New Market Wizards” interview some of the most successful traders of all time, including the “turtles”. The Turtles are group of traders who had no prior trading experience, but went on to earn hundreds of millions of dollars, using very simple mechanical trading systems.

Currency Trading Systems that Make Money

The developments in recent years in computer software, the growth of the Internet, and online trading, has seen currency trading systems become more popular than ever.

Software Packages such as Tradestation, Supercharts, Omni trader, and many more, allow traders to back test systems, using a variety of technical indicators that include:

· Stochastics

· Bollinger bands

· RSI

· moving averages

· ADX

And many more.

The currency trading system picked can then be analyised, to see how it would have performed in the markets with commissions and slippage deducted.

Traders, who don’t want to develop a currency trading system, can buy systems off the shelf from vendors.

How do you Choose a Successful Currency Trading System?

If you are buying a currency trading system, there are several things to consider before parting with your hard earned cash:

1. Are you interested in being a day trader, or a trader looking for longer-term trends? You need to pick a system that you’re comfortable with and this is mostly down to personal preference. Some traders like the excitement of day trading others prefer a longer-term approach.

2. Do you want to have any input into the system, or do you want it to be totally mechanical?

3. Do you want to trade just one currency, or a basket of currencies? Using a currency trading system that trades just one currency can be more profitable but keep in mind, the converse is true, i.e losses and drawdowns can be larger.

4. When choosing a currency trading system you need to have confidence to trade with it, and follow the system through losing periods. To do this you should know the logic the system is based upon. If you understand the system and its logic, you will derive confidence and be more likely to follow it – in contrast to one where the logic is not revealed.

5. What are the average profits you can expect in relation to drawdowns? All currency trading systems will have periods of drawdown and losses. Generally the larger the profits the bigger the drawdowns tend to be over time – so pick a system that reflects your investment aims and risk tolerance.

6. When you are buying a currency trading system, check out the system seller’s experience, track record, customer support, – and whether they have a real-time track record, or a hypothetical one.

A real time track records means the system has performed in the market and made money, i.e it’s proven. Trading systems that simply rely on hypothetical track records mean they have been back tested, – and with the benefit of hindsight we can all make money!

While hypothetical track records should be treated with a degree of caution, you can find out a lot about whether the system is likely to make money, by knowing the logic the system is based on.

When considering a hypothetical track record, look for one where the logic is revealed and not a “black box” system where you have no idea how to system works.

In conclusion, you can make your own currency trading system, or you can buy one from a vendor – when choosing one from a vendor make sure you do your homework, and remember – if it looks too good to be true, it probably is!

Currency trading systems can, and do make money, and the effort you put into finding the system that suits your personality, risk tolerance, and profit objectives, will be time well spent.

We have lots more currency trading articles to help you sharpen your trading skills, on our web site. New! Free Currency Trader CD available through
our web site! You can grab this valuable CD, which contains 9 critical reports on how to improve your trading. Everything you need to trade successfully is enclosed, including tips strategies and href="http://www.tradercurrencies.com/trading-currencies-articles-sitemap-2.htm">trading systems.

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Even traders want to be trendy when they buy stocks. Many traders make trades because of public opinion, not because the trade itself makes sense. When a particular stock seems popular, they rush in so they don`t feel they`ve missed an opportunity. As a result they end up buying at a price point where the trade can`t possibly work out. You should always avoid the emotion of the “hot” stock.

Here`s an example of what not to do when you buy stocks: Let`s say you`ve been following a particular stock which is in a “hot” sector, and it just announced a stock split. The stock is now at $18, and you calculate it could get to $25 or more by the time of the split. The market is currently bullish, and it looks like a great trade.

The problem is that the stock has been rising for the past four days. It started at $12, but you didn`t notice it until it hit $18, and it`s still rising. The stock split is a month away, and you know it`s likely to fall in price somewhat between now and the split. Still, everyone is talking about this stock. What if it continues to rise and becomes the next blockbuster? You become afraid that if you don`t make a trade you`ll miss a great opportunity. (And besides, you want to be able to tell people that you hold a position in this stock, because it makes you seem smart.) So you buy 1,000 shares at $18.50.

During the next two weeks, the stock goes to $19, then levels off, loses momentum, and drifts down to $17. Then a couple of leading NASDAQ companies give earnings warnings, the market drops, and the stock slides to $15, triggering the stop you`d set at $16 on half your holdings. The stock trades in that range for a week, and then begins to rise slightly going into the split. Your plan is to sell a day or two after the split. The stock rises a little beyond $20.50 by the second day after the split, and then the volume dries up and you sell it for a $2 profit. But since you stopped out of half your shares at $16, you lost $2.50 per share on that half, with a net loss of $.50 on 500 shares. What went wrong?

What went wrong was that you didn`t let the stock come to you. Instead, you chased it as its price rose, knowing perfectly well that, following the stock split trend, it would probably pull back before running up again. It was more likely to pull back than it was to continue on an uninterrupted run to $25, and you knew that if you bought at $18 or higher you were probably paying too much. You ignored what you knew was more likely in favor of what might happen.

You should have given the stock a chance to come to you, at a price you felt was reasonable. If the stock had pulled a surprise and never gotten down to where you thought it would, that would be okay. There were many other stocks to trade, and some of them would have come down to your price. You didn`t have to own this particular stock.

What was the right way to play this particular scenario? When the market is bullish, it`s very likely for a stock to rise when a split is announced, drift down after a few days` rally, and then begin to rise again a week or so before the split. If that`s the trend and there`s no solid reason to think the stock will rise immediately, wait a few days for the stock to drift down and stabilize before buying it. If you had done so in this case, you could have bought it at $16.50 and then sold it for $20.50 for a $4.00 profit on the entire 1,000 shares.

If you had a solid reason to think the stock might continue to rally, you could have bought half the total number of shares you wanted at a price that might have turned out to be too high, and waited for a lower price to buy the other half. If it had turned out to be too high, it would only have reduced your profit. (No stock goes up or down in a straight line. Wait for a pullback before buying.)

There is a good way and a bad way to buy stocks or trade a “hot” stock. The good way requires discipline and careful market evaluation. The bad way is to trade from your feelings. As you can see from this example, it`s always more profitable to trade the good way.

David Jenyns is recognized as the leading expert when it comes to designing profitable trading systems.

Discover the “secret formula” of trading that anyone can use to consistently generate BIG profits from the market by downloading your FREE copy of David’s new Ultimate Trading Systems course. >Click Here To Download ==> Trading Systems http://www.ultimate-trading-systems.com

A beginner usually feels very attracted to the stock market while for example discovering a stock that’s being reported in CNBC or the news program and watching it rise fast and make new highs from $10 to $35 in just 2 months.

While learning about this successful news story he’s saying to himself … ” Oh boy if I was one of those lucky guys who bought that stock back when it was priced at $10 i easily would have tripled my money by now … That means my 20 grand would transformed in to a whooping 70 K ! hassle free … I would have been able to grab one of those big HUMMERs on the spot and probably pick up a nice Rolex by the way !

The stock market news constantly reports of hot stocks that are breaking out and making tremendous gains on the same day or doubling in price in just a few hours. Back in the bull market of the late 90′s you could easily see a good number of hot stocks sprouting out every week.

Those years surely made it look like every body could easily take LONG SHOTS and make a shiny pile of gold every day in the stock market. But today’s market is a different story. A totally different animal.

Some say that the stock market has gotten more realistic. Fantasy land is over and GAMBLING YOUR WAY TO RICHES is not an option anymore. You might get lucky a few times, but your constant loses can wipe you out sooner or later.

The fact that the bull market period has ended for now doesn’t mean that you can’t make a great deal of money in today’s market. A lot folks from many walks of life keep making excellent profits on a daily basis, pocketing hundreds & thousands of dollars by trading stocks online.

Success in day trading starts by applying a wiser and REALISTIC methodology for choosing hot stocks as well as for getting in and out of them with profits in mind.

You need to look at the stock market more realistically. You got to learn that you can benefit when stocks go up and also when they FALL down. You got to WORK SMARTER and get more selective about the hot stock trading opportunities that you choose. You need to embrace the nature of day trading and be fully prepared to take advantage of stocks that are poised for a BIG RISE on the same day.

The bottom line is you have to PREPARE YOUR SELF to be successful, just like you would do it in other areas of your life in order to achieve success.

Fortunatly there are some excellent day trading information websites that can help you prepare your self to pick hot stocks in a simple yet effective way.

In the end, stock trading is all about buying and selling according to your especific knowledge FILTER. Once you master and follow your proven filter parameters like a clock, you can expect to start making serious amounts of cash on a consistent basis.

Momentum Stock Pick helps day traders and investors pick hot stock trading opportunities every day at http://www.MomentumStockPick.com.