12 - Steps to Good Trading - Step 2 - Using Your Imagination

Not long ago I was reading the book Imagine That by Dewey Friedel. It was a timely read as it coincided with my plan to lay out these 12-steps to good trading and especially the second step, which is Using Your Imagination. In the book he describes an event in the French Revolution where an experiment in a prison showed the power of imagination and suggestion. A prisoner sentenced to death was told that he would not be guillotined as was the custom then Instead he was told that one night the guards would come in and put a sack over his head and he they would slit his wrists and he would just fall asleep and die. I guess they left this thought for him to stew on a while and finally the night came where they came to him and stuck a bag over his head then proceeded to run ice over his wrists. He felt the cold wetness and laid down and went to sleep and within 20-minutes he was dead.

Now I don't know if this is a true story or not. I am guessing if it is true that it was winter or something because I just cant picture how else they come up with ice back then. Regardless of whether the story is true or not it illustrates a truth about the power of our imagination over our lives and also in our trading. A lot of people die a death like this with every trade by focusing on the bad that can happen. It is my belief that we get what we focus on....good and bad. This is a Biblical law written plain as day in the Bible so as a Christian it is easy to believe but even before becoming a Christian this truth was playing out in my life. Modern marketing is catching up with some of those laws in the form of books like The Secret and techniques like NLP and we cant ignore them as a factor in our trading.

I am including this topic early in the 12-steps because it is a foundational one that will be used in every aspect of our learning period. It is vital that we learn to use our active imagination to reflect on the things we want to accomplish and to master our methods and understanding of the market. I say active imagination because this is a step in which you have to redirect your thoughts to those things you need to focus on and meditate and imagine those things playing out. If you don't your own emotions and outside forces will drive your thoughts and that will not end up well for you or your trading. We are always in thought and imagining on some level. Lets choose our own topics.

At this point we don't have a trading method to talk about with examples, nor should we because we are building from the ground up and the entry method is the last part you need to worry about, but I am going to make some suggestions now to start building this mental muscle of imagination and when we do get a method to work with we will just apply that muscle to learning and becoming one with the method.

Lets start with something really easy and useful. Each day during the next two weeks before the next step is released I want you to start each day by doing your breathing exercise as you learned in step number one. Do this on your knees or sitting down so you don't fall right back asleep. After you have reached your calm place your mind should be clear. What you want to do is to actively imagine your day. See it played out the way you want it to go. If you are already actively trading with some method you can include some of that but see the whole day through and don't get bogged down on individual trades or anything too specific. See the outcomes not all the details at this point. When I say "see" I mean see it in your mind and feel those feelings. If it makes you smile while doing it then smile. The whole thing should only take a minute or so. You are not running through the day in detailed real-time speed but just breezing through it like a to-do list almost with pictures and feeling. Feel, see and hear as much as you can without stopping in on any one thing too much. Focus on the results or outcomes.

This may be very difficult for some of you at the start if you have not done it before. So would bench pressing 300-pounds or running a marathon. We are building a muscle. If what I described seems like too much then just imagine your morning or the next hour or two. It's the concept not the specifics. We want to build this muscle so when we get into charts and visual stuff you can have something to work with. We are also building upon the step we already learned, which was to control our breathing. After you do this morning exercises take 2-minutes to write out what you imagined your day would be like in a journal. It doesn't have to be too detailed at this point. You just want to get it down on paper. As the day moves forward and you feel under pressure from outside forces and you catch yourself imagining or focusing on what the world throws at you then return to your journal so you can see what you wanted for your day and get back on track.

I said not to get bogged down on specific details in this exercise. However, if you have big items in your life that day or in the near future that you need to spend more time on then once you finish your daily outline and journal you can go deeper into those items and see them through the way you want them to go. Just don't do it until you get your broad day down in your journal. Using the power of your imagination to visualize those bigger items through completion will help your prepare and find peace. Just actively take control and not let the dialogue or whatever develops take you out of your controlled breathing and calmness. When it does start to do that just actively clear your head by placing your tongue just below and behind your upper teeth and focus again on your breathing.

If you are really struggling with this idea of using your imagination let me make a suggestion that might help. Imagine something you have already done and will likely do again such as going to the grocery store with a list. See yourself get to the store...walk in...glance at the list...grab the cart...flash to the isles...cart is filling...next item...next item...look at the check out....number 8 looks clear...put items on the sliding thing....swipe the card...smile...say bye...go home...etc.

It may take using your memory muscle to develop your look-ahead muscle. The only difference is the timeline. You need to be looking forward in time so make that shift. Work on this for the next two weeks and email me when you have trouble or need help. Actively combine steps 1 and 2. We will be using our imagination when we get more into the market. When you are in control of your own imagination and not letting it run free under the influence of every suggestion the world throws at us then you have real power and learning is accelerated. And just as important, we get in our lives what we actively focus on or imagine.

I promise you that we will be getting to trading specifics but if you don't have this stuff in your arsenal you will be just like every other person who fails so stay with me and we will build it from the ground up.

To learn more about using your imagination for trading or to learn more about my trading method and trader support system please visit http://www.wattstrading.com

Ryan Watts is a full-time technical trader, money manager, and trading coach with over twelve years experience in short-term trading. For more information on his trading system and live trading room visit http://www.wattstrading.com

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Forex Trading Education - How Long Should I Demo Trade?

Demo trading is an indispensable aspect of every retail trader's career. It would be foolhardy to trade 'live' in the Forex market without first getting your feet wet with paper trading.

What Is Demo Trading?

Demo trading (or 'paper trading') involves normal trading activities such as entering into buy (or sell) trades, setting stop orders, and exiting the market. It's basically the same as actual trading except for one crucial difference: you're not trading with real money.

Most Forex brokers provide this service at no cost to retail traders because they hope the retail traders will move on to using their paid services when ready to 'go live'. The brokers will typically provide you with a demo trading account where your winnings (or losses) are calculated, and also a trading platform for you to monitor the market and to place your trades with.

Why Is Demo Trading Recommended For Beginner Traders?

It allows new traders to familiarize themselves with the brokers' trading platforms - for example, to learn how to place buy and sell orders, as well as how to set stop orders etc.

It's a common occurrence for new traders to enter into a buy trade when they want to sell, and vice versa. Without a paper trading account, they'll be paying for such simple errors with real money!

What Demo Trading Can't Help You With

Within the 'safety net' of a paper trading account, many conservative traders are unwilling to start 'live trading' accounts. These traders take comfort in knowing that they can't lose any real money.

This is a dangerous mindset to adopt because actual trading inherently involves taking real risks. When amateur traders grow too comfortable within the confines of a demo account, they stop their learning process: the important aspect of psychological discipline is ignored.

So don't wait until you're completely sure that you're making money before you trade 'live'. That day will never come. My advice is to trade live as soon as you've mastered the controls of your trading platform, but to trade with smaller amounts first.

One of the most important lessons to be learnt in Forex trading is how to manage the psychological impact of actual losses, and you can't get that by paper trading.

To learn more, Click Here to download my free 26-page guide, "Forex Trading Traps!"

Harold Hsu is the owner of ForexSystemProfits.com where he provides premium Forex trading tips and resources.

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Ten Trading Tips to Contemplate

Entry Strategy is important for making profits and minimizing risk. Knowing when you are going to buy a share will always give you an advantage because, if you buy under the right conditions, then you will have less to lose than if you buy at the very top of the market.

Exit Strategy means having a plan for either taking profits or minimizing losses. No exit strategy means more losses.

Taking Profits is about having a business plan that enables you to make a living from the share market. Businesses make profits for their owners to spend on their lifestyle. Share traders work for themselves and need to make profits to survive. Regularly taking profits on the share market is how traders make their money. Other people will leave their money in a share stock for years and, in some cases, they will see a reasonable return, but more often than not, the majority of people wished they had of sold their shares when they were at their previous highs.

Minimizing Losses is as essential to survival on the share market as taking profits is essential. Cutting losses quickly means that you are not financially and emotionally damaged from a huge loss. A series of large losses can blow your bank or even bankrupt you, whereas a few profitable trades quickly cover a series of small losses.

Key Indicators are the only tools that you need to use to trade successfully. Trading is easier than people realize. For the Technical Analyst, there is no need to be studying reports and having to have an ear glued to the news. Simply using about half a dozen basis indicators is sufficient to be successful as trader. In fact, the fewer the better.

Basic Patterns help you understand how simple the market is to read. There are excellent formations like a double bottom and an inverted head and shoulders, which are very reliable and other formations within a trending market, like triangles and pennants that confirm the trend.

General Trends give an idea of what is happening in the market. Some stocks will buck the trend, but most will not. What happens to these stocks forms the trend. Because of this is it profitable to trade the indices.

Small Caps are known as the lower end of town, and this is where some very good value trades can be made, because they have greater a chance for growth.

Large Caps can be safe investments, but often they are slow movers. Exceptions are when there is a mining boom and large mining companies are growing or some other industry is experiencing phenomenal growth. Meanwhile the other industries might be lagging for years and the companies fully capitalized or over capitalized. Unless you are using options, it is best to keep away from large caps, if you are looking to make serious money.

Trading Options provide excellent leverage on large caps. This is the way to make money on these stocks. Owning a share might cost you $40.00, but the option may be obtained for only $1.00. If the share moves up $4.00 and you sell the share, you will make very little because you will have to pay brokerage of the total value of the share and not the $400 profit on the 100 shares sold. On 100 options you would make 300% profit and only have to pay a small amount on each option purchased. The difference in outlay and profit is enormous.

Happy Riches knows how to show you how. Happy Riches also runs an educational membership club which has a focus on people becoming healthy, wealthy and wise. Happy Riches can be found at http://www.happyriches.name

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All About Forex Trading

Forex trading, short for foreign exchange trading, involves the buying and selling of the many currencies of the world. It does not operate via a central exchange site, like traditional stock market trading, and may, thus, fully function a 24-hour basis.

When compared to other exchanges, the trading market is the largest in the world, even beating the New York Stock Exchange (NYSE) by over a hundredfold, in terms of daily trading volume, most of which are conducted by private entities and individuals.

Because of the absence of a central exchange, trading happens between two parties directly. Buyers and sellers communicate and trade via the phone, the Internet or other communications networks worldwide.

In addition, trading forex is also speculative, meaning, they are based on expectations on whether a certain currency would rise or fall, depending on current market conditions. It is risky business, but the returns have often proved themselves worth the risk.

Basic forex trading

Forex trading involves the buying and selling of two currencies at the same time. This combination is often dubbed a cross, because it occurs between two moneys; for instance, the US dollar/Japanese Yen. The highest traded currencies in forex are the US dollar, the euro, the Japanese yen and the UK pound - the "majors".

Trading normally occurs in the spot market, which is the largest because of its volume. Here, trades are made and completed directly and on the spot. You don't have to wait too long to settle.

Advantages of forex trading

1. No 4pm trade closing time.

When you're trading forex, you have 24-hours to do so from Sunday night to Friday night. This opportunity allows you to retract your moves and react immediately when a currency suddenly goes up or down. Breaking news are vital to trading.

2. Very liquid.

It is easy to convert your trades to cash in the market, especially if yours involves one of the majors. The high liquidity helps ensure that spreads are narrow and prices are stable throughout the period.

3. Strong potential for profits

This is particularly true with falling currencies. Because trading involves two currencies, when one rises, the other naturally falls. When a currency depreciates, it could be the perfect time to buy into it so that you can sell it for a hefty profit when it's its turn to appreciate.

4. The higher the currency's liquidity level, the cheaper it is to trade it.

This is why most forex trading patrons opt to trade majors, because they have the highest liquidity. In addition, trading is also more attractive to some money movers because of the absence of a commission. Thus, currencies are actually traded for their real merits and not because they come with misleading incentives.

There's a lot more to learn about trading and the above merely scratches the surface. To be able to further understand what forex trading is and how it can help you grow your coffers, it is advised that you speak to an expert who more likely has all the answers to your questions. Or, yet, ask somebody who's already had experience with forex trading.

Our mission at the Options University is to provide investors around the world with the very best in options education and tools, empowering them to use options for greater profit protection and less risk. To learn more on the options trading strategies for safer investing and bigger profits, please visit our blog at http://www.options-university.biz/blog/ for free trading tips and video e-Course.

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Trading Futures

Today, trading futures is one of the best and most profitable financial investment methods. Of course, trading on the stock market is not for the faint hearted. You need to be strong, have the ability to take risks, as well as have the emotional strength to overcome a significant loss. A highly leveraged market, the trading futures market doesn't discriminate and offers everyone an even playing ground to try their luck. From Warren Buffet to Donald Trump to others, trading futures is a profitable and interesting way to make money and climb the ladders of success. Of course, you should never take futures trading lightly and continue to educate yourself in the latest techniques even if you have been trading for some years. Remember, a sound trading strategy and knowledge about the market you are trading in are your biggest defense against any potential damage.

Whether you are already trading in the stock market or have some experience, trading futures is a completely different ball game. It is advisable to have access to some professional and expert advice. However, if you are looking for a broker, you should check the experience, reputation, fees, testimonials, and customer support of the broking firm before choosing them. An experienced broker can be a highly valuable help in making money from trading futures. Not only does a broker know the latest market trends, he also knows some of the tricks and effective trading methods that can prove to be beneficial for both of you. While their charges may be slightly high, the fact that they can bring you heavy profits while adding worth to your portfolio of futures can not be neglected.

Brokers also help if you are new to trading futures. Since there are so many choices, he/she can help you choose the more popular and most traded commodities as well as educate you on the contracts that are best for your investment types and requirement. After all the formula for success in trading futures is simple and can be written as success = knowledge. With so many types of online trading systems, you'll have just too much information to sort and utilize. However, a broker can do this for you with relative ease, leaving you with time and ability to simply take advantage of the various trading future trends. Some of the factors for future trading include the capital requirements; the leverage; liquidity; and volatility.

Today, trading futures online is a quick and easy way to high profits and more comfort. Whether you are at work or at home, access your futures trading system online and making sales and purchase can be a very easy and responsive affair. So also, the commission charges for online futures trading firms are lower than brick and mortar firms. While this doesn't guarantee profitability, it surely eliminates the need for visiting your broker on a daily basis for carrying out trading. Seeking help of professional broker is very important for ensuring you can minimize your losses and avoid possible pitfalls.

For further information, please visit Trading Futures

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Broker Forex Trading - An Overview

Broker Forex trading is the exchange of foreign currency. With forex trading you are actually exchanging one form of currency for another, this is referred to as buying and selling. There are a number of companies who will buy and sell their products to a foreign market place, they then take the profits they make and convert them into the local currencies. Eighty-five percent of trading is done in the major currencies of the world, currencies such as Australian Dollar, Japanese Yen, US Dollar, British Pound and Euro to list only a few.

Many people find forex trading to be a bit confusing especially now with the constant fluctuations of the world currencies. It is a fairly easy concept. However having a broker to help you in currency trading will assure you better trades and you don't have to spend a lot of time doing research in the market.

Broker forex trading is much easier than doing it on your own. Although it is true that anyone can profit from forex trading, no matter if they have experience or not it is also true that more than half of the people that get into forex trading will lose money over time, as trading can be risky when you are not familiar with the product. When you use a broker some of the risk is removed because a broker has some familiarity with the market trends.

When trading currency it can be difficult and a constant profit for most is hard to achieve. A method that is more proven to help you make a profit is broker forex trading. The evidence can be found by the number of people that have realized a profit and have made small fortunes with the assistance of a broker. A broker can help you no matter what the currency and financial market you are interested in trading in and they can help you to understand how to read the market trends and make recommendations.

When dealing in forex, it is crucial to know how it works and you should also be aware of the pros and cons of trading currency. Forex trading has become a very popular choice for many investors who are looking to make money. With the Forex market and investments made in it, there are benefits as well as risks. Some of these are profitable and others are not.

Brokers that work in the forex market on a daily basis spend time learning and analyzing what changes are taking place in the market. They know when to place a bid and when not to. This is just another of the numerous reason that broker forex trading is important. Brokers know the pros and cons of the currency market and this is useful, as they will help to place you on a path that will eventually become profitable for you. By knowing both sides of the market, the negative and the positive you have a better chance of being in a position that is profitable as well as safe.

Now that you have found out what you you should be doing, go to Forex Killer to discover why it's so easy to create 10's of thousands of dollars by trading forex with the very best cutting edge information available!

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Forex Trading - What is Scalping?

The best way to catch pips quickly is by scalping. Scalping is available for all traders in the Forex market.

If you don't want to sit in front of your computer all the day watching the chart, then scalping can put smile on your face. Lazy traders use this.

Now back to the story: What Is Scalping?

Scalping is a focused technique that involves making a minuscle trade to generate profits within short period of time. This method of trading the Forex market is high probability trades which extremely small risk stops and predefined profit objectives.

It is also a means of taking million trades to make a million dollars.

There are different types of traders:Position traders, Day traders and Scalpers. A position trader would engage in trades that are intended to last for multiple days or month with huge pips target of hundreds to thousands. A day trader could typically engage in trades that might last for less than a day aiming for targets of 20 to 100pips while Scalper often engages in trades that might last for few minutes and the minimum targets could be 5 pips plus.

Now pick you calculator and calculate 5 pips on 2. 00 standard lots of 5 days trades per day for 20 trading days. Your answer will be $10, 000 monthly if all the scalping technique is adhered to. Are you saying it's not possible! Just demo trade this for a month and see what I am saying.

A Scalper normally trades higher lots size or volume depending on your account size and risk acceptance for the fact that this technique requires a minimum stop loss of 20 pips, you must also maintain a good equity management principle.

As a scalper, you could rake in more profits to your bank account without stress compared to day or position traders.

That's all about scalping. Happy Trading.

Do you want to know how to trade the Forex without losing a dime? Then go over to http://quickforexpips.blogspot.com You will get free informations there.

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The Forex Tracer - Can Automated Trading Systems Increase Your Wealth?

Have your ever tried something that worked automatically to help reduce your workload as well as increase efficiency and productivity? How about trying out math based systems to help you figure out the probable outcome of a certain event?

If you are familiar with the forex trade industry or is a forex trader yourself, then you would have already heard of the Expert Advisors. What these Expert Advisors do is to act as stand-in modules that works with your Metatrader 4's automated trading systems to aid in executing the trades that it has calculated to have a better probability in getting you're a higher profit.

The Forex tracer is one of these automated trading systems. It can calculate and figure out all the highs and lows of a possible trade. It can even go as far as to create points for the stop loss and take profit options that are included in the system. The system can also function without you so even as you sleep or out with your family, someone else would be working out all the best trades for you. Best bit is it doesn't even need a salary!

It also eliminates the hassle of the learning curve and you pretty much learn as the system does its work. You can observe how it does the trading as well as calculating which ones can give you the best possible profit. Imagine all the time you can save when you use this automated system. You no longer have to spend hours in front of the computer while trying to figure out how things work. The system would do all of that for you!

Do you want the very best forex trading robot? Well I have some good news for you, I bought and tested the top 7 forex software's and put a review of the top 2 on my website: ForexTradingReview.Info I made over 900 dollars a day with one of the softwares listed on that site. Just Imagine if you purchase a couple of profitable softwares!

You have to be very careful when purchasing a software though. Some of the software's just sit around and never make you any money. If you want to make thousands every week with forex I suggest you take a look at the website: Forex Trading Review

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Day Trade Penny Stocks - Your Way to Financial Freedom Today

If you can day trade penny stocks, you can make a killing in the stock market! Many people think thy cannot day trade penny stocks but they are wrong. Anyone can day trade penny stocks with great success. All it takes is a few tricks many people do not know. Well, I have been day trading penny stocks for a long time now and I know what works. If you follow these simple tips, you can day trade penny stocks just like the best of them.

Some people say that is to risky to day trade penny stocks but that is just not true. If it was to risky, people would not do it everyday for years. The thing that gets most people is they do not know what to look for in a company. They pretty much just pick a penny stock at random and go for it. You cannot successfully day trade penny stocks this way. It has to be with informed decisions and educated guesses.

To day trade penny stocks is all about trends in a company's history. If you look back at a company's history you will see trends in there stock price. It may rise for a while then plummet, only to slowly rise again over a few weeks. Knowing that this company follows such a trends lets you know when it is a great time to buy. Once that company's price plummets, you know that it is most likely to raise over the next couple weeks. It is that easy to make a profit with very little risk.

So how do you do this and make a big six figure income? You document the trends of many companies. That way you are likely to always have a company to invest in for a low risk profit. Most people make the whole process to difficult to day trade penny stocks. It really is not that hard! Once you fall into the right method and approach, you will become very confident and invest more money. That turns into a bigger profit and complete financial freedom!

Keeping track of so many stocks can be difficult at first but with a little practice it becomes very easy. You can find a review of my favorite tool I use to day trade penny stocks here. Click Here Not only does it help me stay very organized, it even tells you good buys based on past trends. I highly recommend it to anyone. Thank you for reading and good luck!

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